Malaysia
2024
July 24, 2024
Securities Commission Malaysia, Bukit Kiara, Kuala Lumpur
July 24, 2024
Securities Commission Malaysia, Bukit Kiara, Kuala Lumpur
MYR 280
Virtual (Free)
The momentum on climate action has gained pace in Malaysia in the past year, with new government-led directives and national roadmaps launched to accelerate the energy transition and spur investments into the country’s burgeoning green economy.
But challenges remain — as the federal government races to table a climate change bill by 2025, it has had to navigate the demands of different stakeholders. Amid concerns about rising costs of living and a weaker ringgit, Malaysia’s leaders are under pressure to implement economic reforms. Can policymakers respond to these competing demands, and ensure that the nation’s climate agenda stays on track?
Malaysian corporates are also grappling with increasing climate-related disclosures and sustainability reporting standards. A large swathe of smaller- and medium-sized enterprises (SMEs) urgently need capacity building and lack resources to keep up with ever-evolving standards. What role can public-private partnerships play in addressing the capacity gap, and will Malaysia’s emerging carbon market help mobilise large scale financing for the country’s decarbonisation?
This year’s Malaysian edition of Unlocking capital for sustainability seeks to bring together leaders across government, private sector, academia and civil society to shed light on these questions and explore the way forward.
Minister YB Nik Nazmi Bin Nik Ahmad
Minister of Natural Resources and Environmental Sustainability
Speaking on:
Salmah Bee Mohd Mydin
Executive Director for Market Development, Securities Commission Malaysia
Mydin
Speaking on:
Azmir Abdullah
Head of Sustainable Finance, Commercial Banking Malaysia, CIMB Malaysia
Abdullah
Speaking on:
Dr John Loh
Director of Operations, Sustainability & Digital Transformation, Emerging EPC
Loh
Speaking on:
Dr. Ruth A. Shapiro
Co-Founder and Chief Executive, Centre for Asian Philanthropy and Society (CAPS)
Shapiro
Speaking on:
Tan Ai Chin
Managing Director, Senior Banker and Head of Investment Banking, OCBC Malaysia
Tan
Speaking on:
Jessica Cheam
Founder and Managing Director, Eco-Business; Independent Director, Wilmar International and ComfortDelGro Group, MSID, ICDM
Cheam
Speaking on:
9:30
Welcome remarks
9:45
Opening remarks
10:00
Plenary 1 - Disclose and Decarbonise: The Sustainability Pathway for SMEs
Small and medium-sized enterprises (SMEs) make up the backbone of Malaysia’s economy and are crucial actors in the country’s globally connected supply chain. As sustainability-related disclosures come into force, however, these companies have found themselves in tough competition with larger corporates when it comes to the resources and talent needed to collect report on environmental, social and governance (ESG) metrics. Amid a challenging economic landscape, many have also found it difficult to build capabilities in understanding carbon and sustainable development.
Recognising this, Malaysia’s government, regulators and private institutions have developed a gamut of tools to support SMEs in their sustainability reporting journey. As global sustainability standards are adopted by financial regulators, capacity-building programmes are also being developed with smaller firms in mind. This panel will include a stocktake of progress in Malaysia’s sustainability reporting landscape and discuss how future efforts can be best directed to spur SMEs further on their decarbonisation pathways.
Speakers
11:00
Keynote: Decarbonising growth, accelerating sustainability
11:30
Plenary 2 - Energy Transition: Financing the Tripling of Renewable Energy Capacity
At the heart of Malaysia’s net zero by 2050 target is its energy transition strategy. The recent establishment of the Energy Transition and Water Transformation Ministry, promulgation of policies such as the National Energy Transition Roadmap (NETR) and the recent announcement at London Climate Action week on halving Malaysia’s coal fleet by 2035 and complete phase-out by 2044, highlight Malaysia’s commitment to pursuing its energy transition targets.
Still, Malaysia is still highly dependent on fossil fuels, particularly in rural areas. Battery storage solutions are also prohibitively expensive, limiting the broader adoption of solar power. How can existing policy frameworks be enhanced to accelerate the country’s energy transition? Will transition finance help to funnel large scale financing to the projects needed? This plenary will explore specific solutions to Malaysia’s context and discuss how the public and private sector better collaborate in ensuring an orderly and just transition for Malaysia.
Speakers
14:15
Plenary debate: This house believes Malaysia’s carbon market should be guided by market forces instead of regulation
Malaysia has less than 5 years to reduce its GHG emissions by 45 per cent by 2030 and achieve net-zero by 2050. Is there sufficient time for the markets to drive decarbonisation? Or should the government take a more direct hand in regulating carbon emissions?
Free market advocates say carbon markets and trading should be guided by market forces, which allow them to be more responsive and efficient in addressing climate change. However, would these end up being mere fronts for greenwashing and market manipulation without the safeguards of government regulation?
As Malaysia ventures into carbon trading with the 2022 launch of Bursa’s voluntary exchange. the idea of trading carbon credits and sponsoring/funding nature-based solutions has gained wider acceptance. Morever, Bursa Malaysia is slated to hold the first auction of Malaysian carbon credits tomorrow, and more corporate players and state governments are beginning to explore this growing market space.
Other topics also impact this discussion, such as land management, which falls under individual states’ jurisdiction. How should the market deal with this issue. Furthermore, how would a free Malaysian carbon market integrate itself in an international trading framework, with different standards and reporting frameworks? How would a free market respond to these issues versus a more heavily-regulated one?
Our panelists from both sides will attempt to convince the forum if more, or less state intervention is needed for carbon markets in order to drive decarbonisation.
15:15
Afternoon keynote by distinguished guest-of-honour
15:30
Special fireside chat with Minister YB Tuan Nik Nazmi Bin Nik Ahmad: Malaysia’s climate change bill
16:10
Fireside chat: Board governance and stewardship for Malaysia’s transition
Effective board governance and stewardship play a critical role in ensuring the long-term success and sustainability of organisations. Directors are entrusted to oversee the strategic direction, risk management and ethical conduct of companies — but how can boards build competence in these areas, and how can directors drive value creation by steering their organisations to capitalise commercial opportunities in Malaysia’s economic transition?
In this dialogue in partnership with ICDM, we dive into the boardroom for insights on how boards can empower their organisations.
Speakers
17:00
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UOB
United Overseas Bank Limited (UOB) is a leading bank in Asia with a global network of about 500 branches and offices in 19 countries and territories in Asia Pacific, Europe and North America. We believe in being a responsible financial services provider and we are committed to making a difference in the communities in which we operate.
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Siemens Energy
Located in 90 countries, Siemens Energy operates across the whole energy landscape. From conventional to renewable power, from grid technology to storage to electrifying complex industrial processes. Our mission is to support companies and countries with what they need to reduce greenhouse gas emissions and make energy reliable, affordable, and more sustainable. Let’s energize society.
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CIMB
CIMB Group is a leading focused ASEAN bank and one of the region’s foremost corporate advisors. It is also a world leader in Islamic finance. The Group is headquartered in Kuala Lumpur, Malaysia, and offers Consumer Banking, Commercial Banking, Wholesale Banking, Islamic Banking, Wealth Management and Digital Payment Products and Services. It is the fifth largest banking group by assets in ASEAN and, as at the end of March 2024, had over 34,000 staff and around 25 million customers.
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PPB Group Berhad
PPB Group Berhad (“PPB”) which was incorporated in 1968, is an investment holding and property investment company listed on the Main Market of Bursa Malaysia Securities Berhad, the Malaysian stock exchange. Today, PPB Group is a conglomerate with total assets and market capitalisation of RM29.41 billion and RM20.60 billion respectively as at 31 December 2023.
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Proforest
Proforest is a dynamic not-for-profit organisation with global presence that has established itself as a leader in the development and implementation of sustainable production and sourcing of agricultural and forestry commodities, including soy, sugar, palm oil, cocoa, beef and timber. We support agricultural and forestry production and sourcing that delivers positive outcomes for people, nature and climate through supporting companies, effective collaboration and developing knowledge and capacity building.
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Centre for Asian Philanthropy and Society (CAPS)
Established in 2013, the Centre for Asian Philanthropy and Society (CAPS) is committed to improving the quantity and quality of philanthropic giving throughout Asia. Our mission is to improve the social investment sector in Asia by identifying and disseminating best practices, models, policies and strategies that can contribute to positive system change.
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Institute of Corporate Directors Malaysia (ICDM)
The Institute of Corporate Directors Malaysia (ICDM) is a membership-based organisation whose mandate is to professionalise directorship in Malaysia. As the national institute of directors (IoD), ICDM is committed to providing continuous professional development - empowering boards and directors with forward-thinking mindsets, practical knowledge and essential competencies.
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Asia Investor Group on Climate Change (AIGCC)
Asia Investor Group on Climate Change (AIGCC) is an initiative to create awareness and encourage action among Asia’s asset owners and asset managers about the risks and opportunities associated with climate change and low-carbon investing.
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Centre for Environment, Technology and Development (CETDEM)
CETDEM was incorporated in 1985 as an independent, non-profit organisation with a commitment to improve environmental quality through the appropriate use of technology and sustainable development. Our work revolves around research, advocacy, education, and consultancy.
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ESG Malaysia
ESG Malaysia is the industry body dedicated to championing and leading the development and growth of the ESG services industry in Malaysia, raising awareness and fostering the adoption of ESG practices and carbon emissions, and advocating for sustainability as a whole. The core mission of ESG Malaysia is to empower ESG practitioners and professionals with relevant knowledge and skills to enhance their professionalism.
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My SDG Academy
MySDG Academy is the training center for APPGM-SDG and the Society for the Promotion of the SDGs, focused on raising awareness and localizing the Sustainable Development Goals (SDGs). Its primary goal is to help individuals build their skills and knowledge in implementing sustainable development strategies.
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UNDP
UNDP is the United Nations' lead agency on international development. We work in over 170 countries and territories, helping to eradicate poverty, implement the Paris Agreement on climate change and achieve the Sustainable Development Goals. We connect countries to the knowledge, resources and networks they need to achieve development breakthroughs.
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