Bank Negara Malaysia seeks feedback on new climate taxonomy
Central bank proposes classifying activities based on how much they harm the environment
Malaysia’s central bank has asked for feedback on a new climate risk taxonomy, set out in a discussion paper published at the end of December 2019.
Besides analysing how climate risk can affect the economy, the paper seeks to systematically classify economic activities according to their impact. It says this should help channel funds to activities that mitigate climate change.
Bank Negara Malaysia classifies activities into six categories, including those deemed ‘prohibited’. The other five
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