Three teams from various universities - Sunway University, Monash University, UCSI University, Sunway College, Asia Pacific University and UniKL British Malaysian Institute emerged as winners.
Their innovations provided tangible solutions for Carey Island, a coastal community in Selangor facing mounting threats from sea-level rise, storm surges and saltwater intrusion. The competition also marks a significant step in Malaysia’s efforts to engage youth in climate resilience innovation.
The winning teams received the awards at the ASEAN Capital Markets Forum (ACMF) International Conference on 6 November 2025.
The national competition attracted 30 proposals from 24 different universities1 across Malaysia and abroad. Over two months, 150 university students engaged in designing resilient, financially viable solutions with sound financial models for Carey Island’s coastal adaptation.
The SC Chairman Dato’ Mohammad Faiz Azmi called the COFAR Challenge an integral part of the SC’s broader Adaptation & Resilience agenda.
“By connecting real-world challenges with financial and technical solutions, this initiative aims to not only strengthen local resilience but also build a pipeline of future leaders who understand that climate adaptation and finance must go hand in hand.”
“The SC is proud to support efforts that translate climate risk awareness into actionable, sustainable impact,” he said.
The final round, held on the sidelines of the ICAEW ASEAN Sustainability Summit on 4 November, saw six shortlisted teams pitch their innovative ideas to a panel of judges. These included representatives from the SC, SD Guthrie Berhad, the National Water Research Institute Malaysia (NAHRIM) and the World Bank.
Head of ICAEW Malaysia, Shenola Gonzales said, “Through this competition, students are developing the capability to combine technical expertise with financial insight, equipping them to design solutions that are both sustainable and commercially viable. The initiative reinforces ICAEW’s commitment to shaping future professionals who embed sustainability at the core of financial decision making.”
SD Guthrie, the Challenge’s technical partner, owns 80% of Carey Island and is committed to implementing feasible solutions developed through the Challenge.
“COFAR was created to inspire bright young minds to think boldly and solve problems from every angle. Our participation reflects Guthrie’s commitment to climate resilience. Carey Island, with its century-long battle against floods and unique ecological and cultural heritage, is the ideal test bed. By supporting COFAR, we empower the next generation to turn sustainability ideas into real impact.” said Jeffry Faizal Kamaruddin, CEO of Upstream Malaysia for SD Guthrie.
Southeast Asia Disaster Prevention Research Initiative (SEADPRI-UKM), acted as a key knowledge partner which brought expertise in disaster risk reduction.
" SEADPRI-UKM is proud to contribute our expertise in disaster risk reduction and climate adaptation, helping to shape innovative ideas that can enhance the resilience of Carey Island, which can then be scaled-up to similar coastal areas,” said Professor Joy Jacqueline Pereira, Principal Fellow, Southeast Asia Disaster Prevention Research Initiative (SEADPRI-UKM).
The COFAR Challenge featured a series of activities, from a webinar that provided useful insights on Carey Island’s climate adaptation needs to field visits to Carey Island. The challenge also included two checkpoints for feedback before the final written proposal and a video pitch.
