LocationsScaling climate action through philanthropy
July 9, 2025
From left to right: Mr Edward Vrkić, Resident Representative for UNDP in Malaysia, Singapore and Brunei Darussalam; Datuk Shah Redza Hussein, CEO of Malaysia Forest Fund; Mr. Shahril Jimin, Group Sustainability Officer, Maybank; Ms. Wan Faizah. CEO of Amanah Lestari ALAM (ALAM).
Climate Finance in Malaysia
9 July 2025: UNDP’s Climate Finance Network (CFN), supported by the Government of Sweden and the UK’s Foreign, Commonwealth and Development Office (FCDO) is one pillar of the broader Climate Action for Resilient Asia (CARA) programme. As a regional peer-to-peer network and technical support facility, CFN works across Southeast Asia and the Pacific to help Ministries of Finance, sub‑national governments, private sector actors and development partners scale up climate finance.
As part of this approach, special emphasis has been placed on philanthropy as catalytic grant‑based funding that fills critical early‑stage gaps, de‑risk innovation and unlocks far larger pools of public and private capital for climate solutions. To advance this agenda, CFN hosted a webinar on philanthropy for climate action in March 2023, followed by a two‑day training in Bangkok (18–19 February 2025) that convened senior officials from 12 countries, including Malaysia to explore how philanthropic capital can drive sustainable finance.
Building on those regional exchanges, Malaysia launched its own Climate Finance Innovation Lab (CFIL) on 18 June 2025, initiated by the Joint Committee on Climate Change (JC3). Led by Bank Pembangunan Malaysia Berhad (BPMB), in partnership with UNDP Malaysia, CFIL adapts CFN’s peer‑to‑peer model at the national level, aiming to foster collaborative action among commercial banks, impact investors and local philanthropists to pilot resilience‑focused financing tools.
This alignment underscores how Malaysia’s CFIL both draws on and contributes to a shared strategy for mobilizing private and philanthropic capital. By integrating CFIL into CFN’s network, UNDP and its partners ensure that local innovations reinforce a broader, cross‑border effort to strengthen due‑diligence, risk‑sharing mechanisms and impact‑monitoring frameworks for climate finance. BPMB has since partnered with UNDP Malaysia to operationalize this initiative, creating an opportunity to explore how philanthropy can align with and support national climate finance priorities.
“This workshop brought together diverse perspectives and sparked important conversations on how philanthropic financing can help unlock innovative climate solutions. It was a valuable platform to exchange knowledge, build new connections, and reflect on how we can work together to scale-up climate finance. The British High Commission KL is proud to support such initiatives and explore new approaches for mobilising climate finance.”
- Carol Koh, Sustainable Development Adviser
CARA is proudly funded by the UK’s Foreign, Commonwealth and Development Office, as a central component of the UK government’s commitment to tackling climate change, restoring nature and supporting countries at the forefront of the crisis.
High-Level Dialogue & Peer-to-Peer Learning on Philanthropy for Climate Action in Malaysia
UNDP Malaysia, in collaboration with key partners, hosted the High-Level Dialogue & Peer-to-Peer Learning on Philanthropy for Climate Action on 9 July 2025 in Kuala Lumpur. As part of the regional Climate Finance Network under the broader CARA programme, the event mobilized over 80 stakeholders from the philanthropic, finance, corporate, and policy sectors to examine how philanthropic capital can be strategically leveraged in the climate finance landscape.
Keynote and panel discussions explored the potential for philanthropic funding to drive innovation and support blended finance strategies that benefit both people and planet. The event featured case study on CFIL illustrated the practical implementation of public-private-philanthropic partnerships.
Key participants included representatives from leading institutions such as Maybank, BPMB Bank, MBSB Bank, CIMB Bank, Yayasan Hasanah, Yayasan PETRONAS, the Securities Commission, British High Commission, and civil society organisations.
Please find the presentation content here
What’s Next:
📘 August 2025 – Launch of the Philanthropy for Climate Action Handbook
🌍 October 2025 – Impact Summit (save the date!)
Stay tuned for updates and opportunities to collaborate as we build a more inclusive and sustainable climate finance ecosystem in Malaysia.
Ms. Ruzina Hasan, Counsellor for Global Issues from the Foreign, Commonwealth and Development Ofice (FCDO).
From left: Dr Melissa Foo of MYImpact and Cristina Gregorio, Regional Climate Finance Specialist from UNDP Bangkok Regional Hub.
