Malaysia launches climate finance innovation lab to boost green solutions
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
Malaysia rolls out innovation lab for climate finance solutions. (Photo: asianbankingandfinance.net)
Kuala Lumpur (VNA) - Bank Negara Malaysia (BNM) and the Securities Commission Malaysia (SC) on June 18 announced the launch of the Climate Finance Innovation Lab (CFIL), a𓄧 groundbreaking initiative♚ aimed at promoting innovative financial solutions in the fight against climate change.
CFIL is a collaborative platform involving public, private and philanthropic partnerships to identify, co-develop and implement innovative climate financial solutions that strengthen Malaysia's climate resilience.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity. Building on past initiatives and pilot projects, it marks a significant milestone in Malaysia's sustainability journey.
Administered by Bank Pembangunan Malaysia Berhad (BPMB), CFIL will adopt a modular approach for ongoing efficiency and effectiveness in the ideation and design of financial solutions.
Eligible project owners will have access to funding, technical assistance and a wider network of stakeholders to implement their projects./.
Univers said in a statement that the new centre will serve as a hub for innovation, bringing together digital intelligence and climate ambition to accelerate Sarawak's transition toward a low-carbon, tech-enabled economy.
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