Stock-take 2023: Are banks in Malaysia aligned with global aspirations?

Robust climate action plans are needed, as it is imperative to reduce global greenhouse gas (GHG) emissions by 2030 to limit global warming to 1.5°C. – Photo by Martin Harvey

FOLLOWING the conclusion of the 2023 United Nations Climate Change Conference (COP28), the global stocktake emerged as the central outcome, offering nations a roadmap to develop robust climate action plans by 2025.

The urgency is underscored by the scientific imperative to reduce global greenhouse gas emissions by 43% by 2030 to limit global warming to 1.5°C. And banks play a pivotal role in allocating funds and resources to combat climate change.