7$ November falls in the rainy season with an average precipitation of 320mm (12.6in). Objectives. .d ~=l&^m*UU:p. iA\[evFi For example, current financing activities are largely focused on the end consumer, which is just one part of the housing value chain. The city's main hub is called So will changing consumer preferences. Other related plans with implementation of specific projects are onsmart cities initiatives and promotion of active mobility focusing onpedestrian and cycling in. "There is a growing trend globally where more people are moving to big cities. However, there is a slight issue bugging me regarding the . This includes an expectation for financial institutions to work with and support their customers in managing their transition. The incorporation of green considerations in funding extended to developers and those involved in construction activities such as engineers and raw material suppliers remains largely untapped, and can help offset or spread over time the generally high upfront costs associated with green buildings. DBKL for instance has issued the Kuala Lumpur Climate Action Plan 2050, which details out the actions necessary to achieve the goals of the Paris agreement. DBKL for instance has issued the Kuala Lumpur Climate Action Plan 2050, which details out the actions necessary to achieve the goals of the Paris agreement. For example, the German city of Bonn, host of the UN Climate change Secretariat, aims to be carbon neutral by 2035. Federal Territories Minister, Datuk Seri Dr Shahidan Kassim said the Kuala Lumpur Climate Action Plan comprises five main strategies namely Mobility and Infrastructure Strategy, Green Adaptation City Strategy, Energy Efficient and Climate Resistant Building Strategy, Smart Waste Management Strategy as well as Disaster Management Strategy. KUALA LUMPUR, Oct 27 Malaysia's aspiration to reduce the intensity of greenhouse gas (GHG) emissions across its economy by 45 per cent based on the gross domestic product (GDP) by 2030 has been met with criticism from some unexpected quarters: environmental advocacy groups. By 2024, we have also required all FIs to make disclosures in line with the recommendations of the Task Force on Climate-related Disclosures (TCFD). Mahadi said DBKL had imple- mented low carbon initiatives in its management of the city. May falls in the rainy season with an average precipitation of 191mm (7.5in). Average weather in May in Kuala Lumpur (Kuala Lumpur Federal Territory), Malaysia The average minimum temperature (usually the minimum temperature is noted during the night) in Kuala Lumpur in May is 24.6C (76.28F). Wednesday, 08 Dec 2021 4:25 PM MYT KUALA LUMPUR, Dec 8 The Kuala Lumpur Climate Action Plan 2050 has been developed to achieve the mission of carbon-neutral city by 2050 in line with the vision as a world standard city, liveable, sustainable and resilient. The capital of Malaysia is widely recognized for numerous landmarks, including Petronas Twin Towers (twin skyscrapers with a sky bridge and observation deck), the Petaling Street flea market, and Batu Caves, which is over 400 million years old. Kuala Lumpur City Hall (DBKL) has started its low carbon initiative by outlining 245 programmes under the Kuala Lumpur 2030 Low Carbon Community Master Plan by reducing carbon emission by 70 per cent by 2030, he said when launching the plan today. {05a96a3 }FO|Jq:$ d3H}? 4?r;,x"P/W =_iSMGWuID'ADv\>xk]ffaM7o=m858haVe\o7#M4{R4)w]S$}R4V$6]yT%2gFH>bY64bFib\/B/{.p; UjC V;}~~qL"~H]$TeIjHZ/mW4C #Y7BA[/ 1IGcHx66 . While that has not changed, there is a growing awareness of the impact that the places we live and work in day by day can have on sustainability. While we will be mainly focusing on green housing at this event, it is important not to forget that this is a cross-cutting agenda that requires many different parts of the ecosystem to work effectively. - Bernama, Tel: +603-7784 6688 Fax: +603-7785 2624 / +603-7785 2625, Level 4, Lot 6 Jalan 51/217,46050 Petaling Jaya, Selangor,Malaysia. The public participation period for KLSP 2040 commenced from 18 February until 18 March 2020 and the draft could be accessed by public at selected offices and shopping malls around Kuala Lumpur. It estimates that under current national commitments, average temperature increases will range from 2.9C to 3.4C by 2100. The aim is to regularly check the Following the issuance of the Climate Change and Principle-Based Taxonomy (CCPT) in April 2021, a CCPT Implementation Group will be established to support its consistent and credible implementation by financial institutions. The JC3 is co-chaired by Jessica Chew Cheng Lian, Deputy Governor Bank Negara Malaysia and Datuk Zainal Izlan Zainal Abidin, Deputy Chief Executive Securities Commission Malaysia with members comprising senior officials from Bursa Malaysia and 19 financial industry players as well as relevant experts. Securities Commission Malaysia The workplan of the newly established Sub-committee on Bridging Data Gaps was endorsed at the meeting. On 16 July 2019 we took the decision to declare a climate and ecological emergency. 2!5i.F $0oa0@R_@ in climate change. Members further discussed plans for the mandatory climate-related financial disclosures by financial institutions. Feels Like: 89 F. The JC3 expects to publish the reference guides in the fourth quarter this year. This in turn will support risk assessments, better alignment of business strategies with climate targets, and climate-related disclosures by financial institutions. The DBKL building shows an awareness advertisement about the covid 19 virus which is spreading and cases are increasing in malaysia during the second day of the Full Movement Control Order (MCO) in Kuala Lumpur, Malaysia. KUALA LUMPUR: Prime Minister Ismail Sabri Yaakob on Monday (Sep 27) tabled the 12th Malaysia Plan (12MP) in parliament, with a pledge for Malaysia to "become a carbon neutral country by 2050 at . The financial sector taxonomy therefore does not adopt a binary classification of green and brown activities, but also recognises credible efforts by businesses to actively reduce the harm that their operations might pose to the environment during transition. The plan sets out the the spatial planning and development framework to be interpreted in detail at the next stage of the development plan. 70% renewable energy by 2032. Datuk Seri Dr Shahidan Kassim said five main strategies were out Here in Malaysia, buildings consume almost half (48%) of the electricity generated in the country. Kuala Lumpur (Malaysian pronunciation: [kual, -a lumpo(r), -(r)]), officially the Federal Territory of Kuala Lumpur (Malay: Wilayah Persekutuan Kuala Lumpur) and colloquially referred to as KL, is a federal territory and the ceremonial, legislative and judicial capital city of Malaysia.It is one of the fastest growing cities in Asia and the largest city in Malaysia, covering an area of . On that note, I wish you productive discussions in the sessions ahead. Globally, the building sector accounts for more than 40% of energy consumption, generates approximately 40% of all waste, and consumes 16% of water for construction. As part of efforts to scale up transition finance, JC3 is actively exploring pilot programmes to test new green solutions and instruments. Bank Negara Malaysia This is to ensure an inclusive and meaningful socioeconomic development towards a more prosperous society. #` !~3+OPE-G \ With this in view, let me highlight a few key developments that will shape the Malaysian financial sectors climate response in the coming years. 1 0 obj <> endobj 19 0 obj <>stream CleanBC (PDF, 5.3MB) is the Province's 2018 plan to meet our climate targets while building a clean, low-carbon economy. All of this is to say that climate strategies are set to be a key focal point of financial institutions business and risk decisions going forward. The JC3 continues to advance initiatives to strengthen the financial sectors capacity in managing climate-related risks. Another key deliverable of JC3 this year is the upcoming publication of a data catalogue that will point users to credible sources of critical climate data needed to support identified use cases. The KLSP 2040 is a planning document that contains insights, goals, policies and recommendations to guide the development of Kuala Lumpur for the next 20 years. It was a breakthrough in global climate governance and cooperation, with a target to limit global warming this century to 1.5C, and at most, to 2C. The primary objectives of the Climate Plan are to: Manage greenhouse gas (GHG) emissions while sustaining economic growth - the UAE's total . y`\~ Q} VX^egb&daI"T'Z%}~W As part of this, each signatory country had committed to its own Nationally Determined Contributions (NDCs) to reduce carbon emissions. For general queries about climate change, please contact us at: Telephone: (852) 2838-3111 Fax: (852) 2838-2155 Email: climatechange@epd.gov.hk. At the virtual meeting, several cities and regions presented their plans. The Government today announced Hong Kong's Climate Action Plan 2050, setting out the vision of Zero-carbon Emissions Liveable City Sustainable Development and outlining the strategies and targets for combating climate change and achieving carbon neutrality. Our climate action plan will build on our past progress and use the campus to confront the difficult questions posed by climate change and test promising new solutions that move Harvard, and the world, away from fossil fuels. The JC3 is a platform established in September 2019 to pursue collaborative actions for building climate resilience within the Malaysia financial sector. The question should raised why this had come to this point. And if that isnt sufficiently persuasive, the reality of disorderly transitions, once thought to be a risk further into the future, has now been brought painfully home for many with the energy crisis that is confronting Europe. Based on an analysis of their material exposures to climate-related risks, financial institutions would be required to take actions to address high and unmitigated exposures. Deputy Governor's Opening Remarks at the Cagamas Developing and Financing Green Housing in Asia (DFGH 2022) Conference. JC3 members supported the prioritisation of the initial use cases by the Sub-committee, which include data to support investment and lending decisions, macroeconomic modelling, stress testing, scenario analysis and product development. In the process, they also respond to the changing preferences of an increasingly environmentally conscious population. It will therefore be regularly updated, in keeping with the Paris Agreement and reflecting the learning process. /=Mq[U9{xga nUAc~!z(\x\B8=&. Scattered clouds. Joint Statement by Bank Negara Malaysia and Securities Commission Malaysia Advancing the Financial Sector's Response to Climate Risk. e Estimate. We are dealing with an existential treat for which bold and decisive actions are needed to correct what has been described as the greatest market failure the world has ever seen. As a University community, we have a responsibility to act on the research and insights from our faculty and students. In a region with among the highest home ownership, where up to nine in every ten families will buy the home that they live in, a conference on green housing must surely be on that list. Weather in Kuala Lumpur in April remains the same. Protection products, such as green housing insurance, also remains an unexplored market in Malaysia despite the steadily increasing number of green buildings in the country. The Kuala Lumpur Climate Action Plan 2050 has been developed to achieve the mission of a carbon-neutral city by 2050 in line with the vision of becoming a world standard city that is liveable, sustainable and resilient. It does, however, bring with it some specific challenges. endstream endobj 2 0 obj <> endobj 4 0 obj <> endobj 5 0 obj <>/ProcSet[/PDF/Text/ImageB/ImageC]/XObject<>>>/Rotate 8 0 R/Type/Page>> endobj 20 0 obj <>stream The Sub-committee will create a catalogue of climate data that can be accessed by the financial sector. HWr3xSh3p\kR IvR$AhS.89NT.0c#1\O.8{||?)f8L@B$o\1Y_W?M^_e-%$ ka#XMx=|e!4$aDq#d|rq. The goal for institutions is to develop green housing solutions that would not substantially worsen these conditions and help steer the market towards a just and orderly transition. take the additional actions needed to reach our 2030 climate goals and put us on the path to net zero emissions by 2050. . We have set bold but achievable targets for reducing our emissions while creating jobs. JC3 members also reviewed the progress of work undertaken to develop reference guides on climate risk management and scenario analysis, and climate-related disclosures. The JC3 serves as an industry-regulator collaborative platform to drive and coordinate the financial sectors response to climate change. The Climate Action Plan 2050 is a strategy for modernizing the economy and provides guidance for all areas of action up to 2050 and for upcoming investments, especially for the period up to 2030. Kuala Lumpur Climate Action Plan 2050. Aside from building a strong foundation for risk assessments and disclosures, the taxonomy is expected to encourage the flow of capital towards supporting transition activities. JointCoordinatingCommittee:Kuala Lumpur City Hall (KLCH) Study:Kuala Lumpur, Jurisdiction area fall under Kuala Lumpur City Hall Period:2016-2017 Baseyear:2010 Targetyear:2030 Objective: To integrate existing plans and projects in the city of Kuala Lumpur that relate to climate change mitigation and low carbon measures into a comprehensive Fly to Kuala Lumpur with Qatar Airways to discover an enigmatic city, from the sights and sounds of the Old Town, to the skyscrapers of the Golden Triangle. Bank Negara Malaysia Filter by year All202220212020201920182017201620152014201320122011201020092008200720062005200420032002200120001999199819971996, Filter by speaker All speakersTan Sri Nor Shamsiah Mohd YunusDatuk Abdul Rasheed GhaffourDatuk Jessica Chew Cheng LianDato' Marzunisham OmarAbu Hassan Alshari YahayaAdnan Zaylani Mohamad ZahidAznan bin Abdul AzizFraziali IsmailSuhaimi AliTan Sri Muhammad bin IbrahimTan Sri Dr. Zeti Akhtar AzizTan Sri Ali Abul Hassan SulaimanTan Sri Ahmad Mohd Don. Given that such disclosures by FIs will ultimately depend on disclosures provided by their customers and counterparties, this will have implications on demands for climate-related information from businesses. 'kOk 0m]bV=l0#=i}SLz6Z2`=hrU4)q_B7UY=]8Zo7gG111a;]#P(psp"U+K C HwxKy /@2 OY^+hd^6MmY|4T-gITp >pR=I>h`EncM,0h= RP{a7Lh]qW+,#\MV^~XKB4n+ITsE Zf8CoAwm?ovPm@1J8k tAQ]mP.D" JOwQ2K${C/ Iw^W7%e"qZfDrb4nG$arWN~m2?;dHp04orS6ZO$@ysS-2.GrM8)Cp. The financial sector has a critical role in helping the economy and society mitigate these risks. So it is my great pleasure and privilege to be here today to share some thoughts with you on what the financial sector is doing, and can still do more, to manage climate related risks and support the climate transition. We will deliver: 50% renewable energy target by 2030. [a] Projections from 2013 show Germany may miss its 40% reductions target by about 7%-points without additional measures. Kuala Lumpur, Malaysia's capital with a population of more than eight million, is on the watchlist. Kuala Lumpur plans to be low carbon by 2030 and "carbon neutral ready" by 2040. In response to the Paris Agreement, the Government presented Hong Kong's Climate . On the flip side, the Sri Mahamariamman is the oldest Hindu . Twelve JC3 members have committed to early adoption of the CCPT, in advance of expectations for financial institutions regulated by BNM to classify and report their lending and investment activities in line with the CCPT from July 2022. During these months, the place is comparatively drier, the skies are bluer, and the temperature remains comfortable at approximately 26 degrees Celsius. Also important are solutions that can help reduce GHG emissions from existing homes on the books of financial institutions, and increase their resilience to climate hazards. %PDF-1.6 % Location: Sultan Abdul Aziz Shah-Subang. Central to these actions is the remarkable capacity of the private sector to innovate solutions that will move us closer to our climate goals, and our collective responsibility to harness that capacity. This makes it the wettest month of the year. The added total may differ due to rounding. z$_o`G7b0R)_}y+bLDOzV#X+~X66c{[OC This may take the form of appropriate financing or protection solutions and advisory services. TOKYO -- As Prime Minister Yoshihide Suga declared recently that Japan will become carbon neutral by 2050, the country has begun to move toward effectively slashing carbon dioxide emissions to. rjLJIM9wI=bSYF*t2m # Total Fertility Rate: The rate per woman aged 15 - 49 years. All rights reserved. We're taking action. For evidence, we only need to look to the spread of infectious disease such as Covid-19 and severe floods that are occurring at shorter intervals and with greater intensity. It would be hard to overstate the importance of any meaningful effort that might bring us closer to the goal of mitigating the impact of climate change. 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