By Datuk Zainal Izlan Zainal Abidin
The Joint Committee on Climate Change (JC3) today released the Task Force on Climate-related Financial Disclosures (“TCFD”) Application Guide for Malaysian Financial Institutions which outlines key recommendations supplemented by the relevant descriptions, guidance notes, considerations and examples that could be utilised as practical resources to facilitate the adoption of TCFD Recommendations by the Malaysian financial industry.
The Joint Committee on Climate Change (JC3) held its seventh meeting on 26 April 2022. Discussions centred on the progress of action plans and priorities for 2022, and effects of recent global developments on transition efforts and policy responses of countries. JC3 members noted that these developments could heighten the prospects of delaying the progress of transition efforts and underscore the need for the financial sector to strengthen its response to climate change.
The Joint Committee on Climate Change (JC3) Sub-Committee 2 would like to invite written feedback on the proposed recommendations and guidance set out in the draft Task Force on Climate-related Financial Disclosures (“TCFD”) Application Guide for Malaysian Financial Institutions.
