Malaysia's Joint Committee on Climate Change (JC3) released details on the rollout of the Climate Finance Innovation Lab (CFIL) at Bank Negara Malaysia's (BNM) Sasana Symposium 2025. The initiative aims to accelerate the development of innovative climate finance solutions.
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 platform focusses on four areas: Energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities and nature-based solutions and biodiversity.
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.
“There is an urgent need to scale up climate finance and nature-positive actions in Malaysia. Greater private sector involvement is crucial for accelerating our climate journey towards sustainable development,” said BNM assistant governor Madelena Mohamed.
Said Ms Mohamed, “The CFIL partnership aims to strengthen public-private-philanthropic climate finance through blended finance structures, innovative mechanisms and Islamic finance instruments.”