Bank Negara and SC move in on climate change

Key priorities identified by Bank Negara's Shamsiah (pic) include the development of tools and capacity for identifying climate risks relevant to financial business

PETALING JAYA: Bank Negara and the Securities Commission (SC) are establishing a joint committee on climate change with industry representation to pursue collaborative action for building climate resilience in the Malaysian financial sector.

The key mandates of the joint committee include building capacity and managing climate-related risk. It will also identify issues and challenges besides facilitating collaboration between stakeholders.