Malaysia Has Strong Potential To Leapfrog In Climate-related Projects -- Liew

KUALA LUMPUR, Feb 5 (Bernama) -- 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 said the key challenge lies in directing capital into credible climate initiatives and framing such projects to attract international investors.

“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.

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“We see that there is a lot of potential for Malaysia to leapfrog (and) one of the many areas that we think Malaysia could leapfrog is climate-related projects,” he said at today’s launch of technical assistance programme Climate Finance Accelerator (CFA).

The UK-funded CFA is designed to help climate projects become investor-ready and support Malaysia’s 2050 net-zero emissions goal.

British High Commissioner to Malaysia Ajay Sharma was present at the launch.

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Liew said Malaysia is entering a new phase domestically and internationally, with growing opportunities to advance climate initiatives more rapidly rather than through traditional linear development pathways.

Changing global dynamics have placed Malaysia in a favourable position to emerge as a credible partner in climate collaboration, and building a strong knowledge base and local expertise is critical for Malaysia to develop solutions domestically and regionally, he said.

Priority areas include accelerating energy transition, re-managing cities to reduce carbon footprint, strengthening supply chain traceability and circular economy practices, and developing a comprehensive carbon ecosystem that encompasses carbon taxes and emissions trading systems.

Liew expressed hope that stronger collaboration would help Malaysia build climate expertise not only for domestic use but also for ASEAN and the wider global community.

Commenting on the programme, he is confident that with the bespoke capacity-building support offered, the CFA would spur the creation of innovative climate solutions in the country, pave a clearer path to profitability for businesses and build a strong foundation for 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 said.

-- BERNAMA