Bank Negara Malaysia published an update from the Joint Committee on Climate Change (JC3), which it co-chairs with the Securities Commission Malaysia, following the committee’s 15th meeting, setting out expanded membership and priorities to scale climate finance, support sustainability reporting implementation and address climate-data gaps. JC3 reported strong interest in the Climate Finance Innovation Lab, launched in June 2025, including the ASEAN Power Grid and 16 other projects spanning energy transition, circular economy, sustainable agriculture, and biodiversity and nature-based solutions, with members indicating willingness to provide funding, financial protection and technical expertise. The committee also discussed a unified Malaysian Taxonomy on Sustainable Finance to be co-developed by regulators and industry with ministries and other stakeholders, progressing from a principles-based approach to science-based technical screening criteria and quantitative thresholds, and aligned with the ASEAN Taxonomy. To support rollout of the National Sustainability Reporting Framework across the financial sector, JC3 will support the Advisory Committee on Sustainability Reporting and is exploring guidance or use cases to help firms meet disclosure expectations. Next steps include publication of the fourth iteration of the JC3 Data Catalogue in November 2025, reflecting stakeholder feedback on data gaps, and the inaugural SME climate conference on 17 November 2025 at Sasana Kijang focused on practical actions to build SME climate resilience.

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