Bank Negara Malaysia and Securities Commission Malaysia, through the Joint Committee on Climate Change (JC3), published details on the rollout of the Climate Finance Innovation Lab (CFIL), positioning it as a collaborative platform to identify, co-develop and implement climate finance solutions that strengthen Malaysia’s climate resilience. CFIL will focus on four thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity. Administered by Bank Pembangunan Malaysia Berhad, the lab will use a modular approach for the ideation and design of financial solutions, with eligible project owners able to access funding, technical assistance and a broader stakeholder network. The joint statement frames CFIL as an incubator intended to connect project owners with diverse funders, including through blended finance structures, innovative mechanisms and Islamic finance instruments.

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