The SC said the results of the stakeholder consultations would be taken into consideration to finalise Version 2, which is set to take effect in early 2024.
KUALA LUMPUR: The Securities Commission (SC), together with Bank Negara, will engage with energy sector stakeholders to assess companies’ readiness to meet the technical screening criteria under the Asean Taxonomy.
The consultation will be undertaken following the release of Version 2 of the Asean Taxonomy for Sustainability Financing (Version 2) last week.
In a statement, the SC said the results of these stakeholder consultations would be taken into consideration to finalise Version 2, which is set to take effect in early 2024.
“The refinement in Version 2 is a vital step in steering Asean and its member states to transition towards sustainability,” said SC chairman Datuk Seri Awang Adek Hussin.
Version 2, which was released on March 27, 2023, consists of the complete Foundation Framework and Technical Screening Criteria for the first focus sector, namely the electricity, gas, steam and air conditioning supply under the Plus Standard.
The SC said the regional initiative supports Malaysia’s aspiration to achieve a net-zero greenhouse gas emission target as early as 2050, complementing the country’s green recovery agenda and National Investment Aspirations, among others.
“The Foundation Framework in Version 2 is also aligned with the Climate Change and Principle-based Taxonomy issued by Bank Negara; and the environmental component of the Principle-based Sustainable and Responsible Investment Taxonomy for the Malaysian Capital Market issued by the SC last year.
“These taxonomies, collectively, will create opportunities and spur more investment flows, including foreign funds into the country,” it added. — Bernama
