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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)
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), a 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./.

VNA
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