Securities Commission Malaysia, as co-chair of the Joint Committee on Climate Change (JC3) with Bank Negara Malaysia, published an update from JC3’s 15th meeting, highlighting early traction for the Climate Finance Innovation Lab (CFIL) and setting out workstreams on a unified Malaysian Taxonomy on Sustainable Finance, sustainability reporting implementation support, and climate data and SME capability-building. JC3 welcomed nine new members and discussed how geopolitical developments affecting global supply chains may influence the pace of decarbonisation, while emphasising a pragmatic pathway towards net zero given current technology constraints. CFIL, launched in June 2025, has attracted interest from project owners and a range of potential funders, including ASEAN-focused initiatives such as the ASEAN Power Grid and 16 other projects spanning energy transition, circular economy, sustainable agriculture, and biodiversity and nature-based solutions, with members indicating support through funding, financial protection and technical expertise. On policy infrastructure, JC3 outlined plans to co-develop a unified Malaysia Taxonomy with industry, stakeholders and ministries, progressing from a principles-based approach towards science-based technical screening criteria and quantitative thresholds, aligned with the ASEAN Taxonomy. The committee also signalled further support for the Advisory Committee on Sustainability Reporting in implementing the National Sustainability Reporting Framework (NSRF) across the financial sector, including exploring guidance or use cases to help firms meet NSRF disclosure expectations. Next deliverables include publication of the fourth iteration of the JC3 Data Catalogue in November 2025 to reflect stakeholder feedback on data gaps, alongside continued advocacy for greater access to public data and climate data capacity building. JC3 will also hold its inaugural SME climate conference, themed “Building Climate Resilience: Practical Actions for SMEs”, on 17 November 2025 at Sasana Kijang.
Malaysia Securities Commission 2025-08-11
Securities Commission Malaysia updates on JC3 plans for the Climate Finance Innovation Lab, a unified Malaysia Taxonomy and NSRF implementation support
Securities Commission Malaysia and Bank Negara Malaysia, co-chairs of the Joint Committee on Climate Change (JC3), reported progress on the Climate Finance Innovation Lab and outlined workstreams for a unified Malaysian Taxonomy on Sustainable Finance. JC3 discussed geopolitical impacts on decarbonisation and plans for a science-based taxonomy aligned with ASEAN standards. The committee supports the National Sustainability Reporting Framework and will publish the fourth JC3 Data Catalogue in November 2025.