The UK launched the second phase of a climate change fund that will invest as much as £2.9 million, or RM16 million, in Malaysia over the next two years.
The Malaysia-UK Partnering for Accelerated Climate Transitions Fund (UK PACT) will focus on accelerating progress in green finance and carbon markets, according to a recent statement from the British High Commission.
“Together, each of the projects in the UK PACT portfolio will support Malaysia in reaching its climate ambitions and support sustainable growth,” said British High Commissioner to Malaysia Ajay Sharma.
Natural Resources and Environmental Sustainability Minister Datuk Seri Johari Abdul Ghani was the guest of honour at the launch event.
The second phase of the fund builds on the UK’s support from 2020-2023 and is in line with Malaysia’s climate policies, including its National Energy Transition Roadmap and the forthcoming Climate Change Bill.
The fund is jointly governed and funded by the Foreign, Commonwealth and Development Office and the Department for Energy Security and Net Zero.
The programme focus was determined through extensive consultation with Malaysian counterparts, and delivery is led by Palladium International along with consortium partners Arup and Social Development Direct.
