PETALING JAYA: The United Nations-convened International Network of Financial Centres for Sustainability (FC4S) has welcomed Malaysia as its 33rd member with Capital Markets Malaysia (CMM) officially joining the network.
Securities Commission Malaysia (SC) chaiman Datuk Syed Zaid Albar said CMM’s membership of the Financial Centres for Sustainability reinforces Malaysia’s resolve to develop a holistic, sustainable and responsible financing and investment ecosystem.
“The SC will continue to encourage innovation and promote the principles of sustainable development in the capital markets, to advance the nation’s sustainability agenda,” he added.
CMM was set up by the SC in 2014, to spearhead both the local and international positioning and profiling of the Malaysian capital market. CMM profiles the competitiveness and attractiveness of the various segments of the capital market to increase participation and enhance opportunities for Malaysian capital market intermediaries.
FC4S co-chair Lamia Merzouki said by joining FC4S, Malaysia is laying out its sustainable finance ambitions for the world to see.
“As part of our network they will be able to liaise and learn from our membership of over 30 financial centres about everything from taxonomies to green bonds. In just a few years Malaysia has taken huge steps towards mainstreaming sustainable finance and we here at FC4S look forward to assisting them in every way possible.”
A key priority for CMM over the next three years is to facilitate the development of Malaysia’s sustainable finance and investing ecosystem.
In an effort to streamline its sustainable finance work CMM formed the Malaysian Sustainable Finance Initiative, led by a steering committee which is chaired by SC and includes members representing stakeholder groups within the financial sector involved with financing green or sustainable projects.
Its objective is to provide impetus for industry stakeholders to facilitate capacity building, upskilling, awareness and thought leadership on sustainable finance.
