Kuala lumpur: Malaysia has strong potential to leapfrog in climate-related projects and position itself as a global model for climate solutions if capital, policy, and knowledge development are effectively aligned, said Deputy Finance Minister Liew Chin Tong. He emphasized the importance of channeling capital into credible climate initiatives to attract international investors.
According to BERNAMA News Agency, Liew stated that the challenge lies in framing these projects to appeal to a global audience. 'There is no shortage of money in the world, but how to channel capital into climate causes, how to frame it and articulate it, not just for domestic audiences but also for global investors, that is the potential contribution," he noted. Malaysia is seen to have significant potential in leapfrogging in climate-related projects, a sentiment expressed during the launch of the Climate Finance Accelerator (CFA), a UK-funded technical assistance programme aimed at supporting Malaysia's 2050 net-zero emissions goal.
The British High Commissioner to Malaysia, Ajay Sharma, was present at the launch, highlighting the international collaboration in these efforts. Liew pointed out that Malaysia is at a pivotal stage both domestically and internationally, with opportunities to advance climate initiatives more rapidly than traditional development pathways allow. Global dynamics now position Malaysia as a credible partner in climate collaboration, emphasizing the need for building a strong knowledge base and local expertise to develop solutions domestically and regionally.
Priority areas identified include accelerating energy transition, re-managing cities to reduce carbon footprint, strengthening supply chain traceability, and implementing circular economy practices. Developing a comprehensive carbon ecosystem that includes carbon taxes and emissions trading systems is also crucial. Liew expressed hope for stronger collaboration to help Malaysia build climate expertise not only for domestic use but also for ASEAN and the wider global community.
Commenting on the CFA programme, Liew expressed confidence in its ability to spur innovative climate solutions in Malaysia, paving a path to profitability for businesses and facilitating meaningful investor engagement. 'The target group the CFA is attracting is low-carbon businesses and entrepreneurs, who are in a unique position to amplify the role of responsible businesses in Malaysia. By participating, they will be able to use their voice to reinforce that growth does not need to compromise the prosperity of future generations,' he concluded.