At its 16th meeting, the Joint Committee on Climate Change (JC3), co-chaired by Bank Negara Malaysia and Securities Commission Malaysia, reviewed progress and set strategic priorities for 2026, reaffirming a focus on mobilising finance for impactful climate and nature-positive projects and strengthening Malaysia’s climate and sustainable finance ecosystem. Key deliverables include developing the Malaysia Taxonomy as a unified national classification framework aligned with the ASEAN Taxonomy, with a call for feedback on its design and scope due at the end of February 2026 to gather views on adoption and implementation. JC3 also reviewed the JC3 Climate Finance Innovation Lab (CFIL), which had onboarded 30 projects as at January 2026 with total funding needs exceeding MYR4 billion, and will prioritise project readiness and viability support and stronger public-private-philanthropic partnerships. In parallel, development has commenced on National Sustainability Reporting Framework (NSRF) for Financial Institutions Guidance to facilitate NSRF adoption in line with International Sustainability Standard Board requirements, building on illustrative sustainability reports for the plantation and construction sectors issued by the Advisory Committee on Sustainability Reporting to support application of IFRS S1 and IFRS S2 disclosure requirements. Looking ahead, JC3’s emerging priorities include exploring risk-sharing mechanisms for transition and adaptation projects, identifying policy levers to support climate finance, developing finance solutions for carbon credit projects, integrating nature-related financial risks into regulations and initiatives, and improving access to climate- and nature-related data. JC3 will also hold its biennial Journey to Zero Regional Conference on 28 and 29 September 2026 at Sasana Kijang, with further details to be announced.
Malaysia Securities Commission 2026-02-06
Securities Commission Malaysia and Bank Negara Malaysia’s JC3 sets 2026 priorities including Malaysia Taxonomy feedback and NSRF guidance for financial institutions
The Joint Committee on Climate Change, co-chaired by Bank Negara Malaysia and the Malaysia Securities Commission, set strategic priorities for 2026, focusing on mobilizing finance for climate-positive projects and enhancing Malaysia’s sustainable finance ecosystem. Key initiatives include developing the Malaysia Taxonomy aligned with the ASEAN Taxonomy, advancing the JC3 Climate Finance Innovation Lab, and creating a National Sustainability Reporting Framework.