Joint Statement by BNM and Securities Commission Malaysia: Updates from the 17th Joint Committee on Climate Change (JC3) Meeting

null Joint Statement by BNM and Securities Commission Malaysia: Updates from the 17th Joint Committee on Climate Change (JC3) Meeting

Joint Statement by BNM and Securities Commission Malaysia: Updates from the 17th Joint Committee on Climate Change (JC3) Meeting

The Joint Committee on Climate Change (JC3) held its 17th meeting on 6 August 2026. The meeting reaffirmed the need to move faster from commitment to mobilising practical solutions.  Priorities include supporting energy transition, strengthening climate resilience especially against floods, and strengthening mechanisms to measure and report outcomes.

Supporting implementation of the National Sustainability Reporting Framework (NSRF), the JC3 issued the NSRF Guidance Documents for Banks and Insurers and Takaful Operators[1]. The guidance aims to make sustainability-related disclosures more robust, consistent, comparable and purposeful. Through practical solutions, the guidance addresses common implementation challenges in sustainability reporting, including risk and opportunity assessments, strategy disclosures, and the use of metrics and targets. Hands-on capacity-building programmes will begin in October 2026 to support implementation.

Neetasha Rauf, Chief Sustainability Officer of the Securities Commission Malaysia and Co-Chair of JC3, said, “The NSRF Guidance Documents will help financial institutions and insurers and takaful operators navigate reporting challenges and support their transition towards high-quality, decision-useful sustainability disclosures. It also complements the efforts of the Advisory Committee on Sustainability Reporting (ACSR) in providing implementation and capacity-building support for scoped-in entities.”