Last December, floods devastated seven states in Malaysia. The water from unprecedented torrential downpours damaged infrastructure, living quarters, vehicles and other forms of assets which caused an estimated RM 6.1 billion (US$1.46 billion) in economic losses.
The disaster took 54 lives and was billed 'the flood of a century' by the government; but experts warn that climate change will continue to result in more extreme weather patterns and there is growing pressure on the authorities to reassess urban as well as disaster planning, and invest in more sustainable and climate-resilient infrastructure.
The Malaysian government has made progress in recent years in sectors such as water security energy and resources, agriculture and forestry, and biodiversity. To finance these new initiatives, the country has been leading the charge for sustainable bonds and sukuk (Islamic bonds) in the Asean region. Among the ASEAN-6 countries, Malaysia accounts for US$3.9 billion of issuance value or 56 per cent of the total ASEAN SRI sukuk issuance as of November 2021.
How can Malaysia continue to attract capital to build climate resilience and green infrastructure in the coming decades? In this discussion, we focus on how Malaysia can become a more attractive market for sustainable investment, and how it can deploy the capital it raises effectively. The panel, which will bring together public and private stakeholders, as well as sustainability and financial experts, will uncover invaluable insights into the growth potential in Malaysia's journey to a low-carbon future.
Regional Correspondent, Eco-Business
Head of Strategic Investments, Employees Provident Fund (EPF)
Senior Advisor, Khazanah Research Institute, Visiting Fellow, Initiative for Policy Dialogue
Executive Director, Eco-Business