On 2 December 2025, the Joint Committee on Climate Change (JC3), through its Sub-Committee 3 on Product and Innovation, launched its latest publication, the Sustainable and Transition Finance Guidance (STFG, or the Guidance), at the final Transition Planning Clinic held at Sasana Kijang in Kuala Lumpur. The Guidance was developed by an industry-led Working Group comprising members from Maybank, CIMB and HSBC Amanah, with support from Bank Negara Malaysia (BNM) and the Securities Commission Malaysia (SC). Dato’ Sri Khairussaleh Ramli, President and Group CEO of Maybank, said: “As Chair of the STFG Working Group, Maybank continues to demonstrate its commitment to strengthening the sustainable and transition finance landscape within Malaysia’s financial sector. What makes the STFG particularly meaningful is that it is the product of genuine collaboration between the banking industry and regulators. It translates global principles into practical, actionable guidance tailored to the Malaysian context, supporting the transition of the real economy.” He added that the STFG does not seek to reinvent existing frameworks, but rather to localise them to meet domestic needs and promote credible sustainable finance practices in Malaysia. Novan Amirudin, Group CEO of CIMB, said: “The financial sector plays a pivotal role in driving an economy that prioritises responsible growth and long-term value for both people and the planet. As Malaysia advances its climate and sustainability ambitions, the need for credible and practical transition finance solutions has become increasingly critical. The STFG serves as an important resource in aligning the banking sector with national sustainability objectives. Through this Guidance, we aim to strengthen the industry’s collective capability to mobilise sustainable and transition finance at scale, support economic progress and advance social equity, while upholding the highest standards of transparency and integrity in financing practices.” Raja Amir Shah, CEO of HSBC Amanah, said: “As a member of the Joint Committee on Climate Change, HSBC Amanah is committed to supporting collaborative efforts to build climate resilience within Malaysia’s financial sector. A key initiative in this regard is the development of the Sustainable and Transition Finance Guidance. The Guidance plays an important role in promoting responsible sustainable and transition finance practices among financial institutions in Malaysia, and also serves as a reference point for capacity-building initiatives that the JC3 may advocate.” The Guidance provides banks with practical recommendations on how to align financing activities with established sustainable and transition finance principles at both asset and entity levels. It recognises the wide range of national and global taxonomies available to banks, and outlines how institutions can proceed where an asset, project or entity does not fully meet the requirements of those taxonomies. It also offers tools to support consistent and credible assessments of clients’ transition progress, helping to facilitate the flow of capital towards activities and companies making measurable progress towards a low-carbon future. The launch was witnessed by BNM Assistant Governor and JC3 Co-Chair Madelena Mohamed; SC Chief Sustainability Officer Neetasha Rauf; Maybank President and Group CEO Dato’ Sri Khairussaleh Ramli; CIMB Malaysia and CIMB Bank Berhad CEO Gurdip Singh Sidhu; and HSBC Amanah CEO and HSBC Bank Malaysia Chief Sustainability Officer Raja Amir Shah Raja Azwa. Drawing on insights from a pre-drafting survey and a public consultation process, the Guidance reflects a strong commitment from both the financial sector and regulators to strengthen the credibility, consistency and impact of Malaysia’s sustainable finance ecosystem. The full Guidance is available on the JC3 website at www.jc3malaysia.com Re-disseminated by The Asian Banker
