Malaysian Development Investment Authority (MIDA) and UNDP Malaysia to launch Malaysia SDG Investor Map in 2023
December 7, 2022
[FOR IMMEDATE RELEASE]
Kuala Lumpur, 6 December 2022 – The United Nations Development Programme (UNDP) Malaysia, Singapore and Brunei Darussalam and the Malaysian Investment Development Authority (MIDA) co-organised the Private Sector Dialogue on the Sustainable Development Goals (SDG) Investor Map, themed “Sustainability Does Matter: Investing for a Better Future” today.
The event aimed to engage with industry players in identifying new investment opportunities with potential contribution to SDGs, while generating attractive market returns. The dialogue, which was officiated by Ms. Usha Rao-Monari, UN Under SecretaryGeneral and UNDP Associate Administrator, has successfully received the crowd from the corporate sector. In her remarks, she stressed on the business case of redirecting funds to climate-sensitive investments.
“By venturing into new production and services that contribute to climate solutions, businesses can gain good market returns and be a leader in their respective industries. Now is the time for private businesses and investors to place their bets on climate-sensitive investments – not just to hedge their climate risks but to make real business value from green products and services, and climate mitigation and adaptation solutions.” said Rao-Monari
This call to action was echoed by Tan Sri Dato’ Seri Dr. Sulaiman Mahbob, the Chairman of MIDA, who expressed, “From the Government's point of view, the SDG Investor Map will assist in unveiling untapped opportunities that have the potential to spur rapid development. This will provide the Government with a clear direction to focus on new areas that could benefit from policy implementation and provision of resources, such as human capital and capacity-building initiatives.”
Tan Sri Zakri Abdul Hamid, a former Science Advisor to the Prime Minister and the founding chair of the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES), who delivered the Keynote Speech at the Dialogue’s plenary session also emphasised the urgency of bold climate actions from the private sector to transform themselves from “business as usual”, while shedding light on business opportunities arising from the net zero goal target that Malaysia has set for itself.
“In the face of such gloom and doom, there is not only hope but opportunity.” he said. He highlighted that every USD1 invested in the green economy yields USD4 in benefits, which can be interpreted as another future growth potential for Malaysia. As reported by the Global Commission on Adaptation in 2019, it is estimated that a USD1.8 trillion investment in a climate-change adaptation measures are expected to bring a return of USD7.1 trillion in avoided costs and other benefits.
The second half of the event featured three parallel cluster discussions between the private sector stakeholders on renewable energy, green financing, and tech-based climate solutions respectively. The inputs gathered will be fed into the draft inaugural Malaysian SDG Investor Map, a market intelligence tool that guides investors by identifying investment opportunities areas and business models that advance the SDGs.
The Map provides insights and tools needed by the private sector to increase their investments towards the SDGs, which inadvertently and significantly contributes to help to fill the financing gap faced by governments to meet the country’s SDGs targets including its climate ambitions. MIDA and UNDP are planning to launch the Malaysian SDG Investor Map in 2023 for a sustainable future in Malaysia for reference by both domestic and international investors.
MIDA is the Government's principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into Malaysia's manufacturing and services sectors. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn, TikTok and YouTube channels.
As the United Nations lead agency on international development, UNDP works in 170 countries and territories to help countries develop policies, leadership skills, partnering abilities, institutional capabilities, and resilience to achieve the Sustainable Development Goals. UNDP’s work is concentrated in three focus areas; sustainable development, democratic governance and peace building, and climate and disaster resilience. In line with Malaysia’s position as an upper middle-income country, the Country Office is focused on upstream policies in supporting the design and implementation of Malaysia’s national development priorities as well as sectoral development policies and strategies.
For media enquiries, please contact:
Ms. Surayu Binti Susah
Director, Strategic Planning & Policy Advocacy (Manufacturing) Division
Tel.: +603-2267 6773
SDG Impact Finance Specialist
Tel.: +603 8689 6049