UK and Malaysia Launch Enhanced Climate Partnership
The United Kingdom and Malaysia have fortified their climate collaboration with the introduction of the second phase of the Malaysia-UK Partnering for Accelerated Climate Transitions (UK PACT) Fund. This initiative, which is the UK’s largest bilateral climate programme in Malaysia, is set to enhance efforts in green finance and carbon markets.
Launch Event Details
The formal unveiling took place under the guidance of H.E. Ajay Sharma CMG, the British High Commissioner to Malaysia, who was joined by Datuk Seri Johari Ghani, the Minister for Natural Resources and Environmental Sustainability, as Guest of Honour. The event also saw participation from senior officials across various Malaysian ministries and agencies, including the Ministry of Finance and the Energy Commission.
Building on Existing Frameworks
This new phase of the initiative builds upon the UK’s previous support from 2020 to 2023 and aligns seamlessly with Malaysia’s ambitious climate strategies. These strategies include the National Energy Transition Roadmap (NETR), an updated Nationally Determined Contribution (NDC) for 2035, and a forthcoming Climate Change Bill.
Statements from Officials
Expressing support for the initiative, High Commissioner Ajay Sharma stated that the various projects under the UK PACT portfolio aim to assist Malaysia in achieving its climate objectives while promoting sustainable development. He noted that this partnership exemplifies the commitment made by the UK and Malaysian Prime Ministers earlier in the year to enhance the prosperity and security of their respective nations while addressing environmental concerns.
Strategic Focus and Objectives
The strategic direction of the programme was developed following extensive consultations with Malaysian officials. The Malaysia-UK PACT 2.0 portfolio aims to allocate up to £2.9 million for the fiscal years 2025 and 2026, focusing on:
- Establishing a comprehensive vision and strategic roadmap for both public and private sector engagement in green finance.
- Encouraging investments in energy storage solutions and improvements in grid infrastructure.
- Enhancing carbon market systems and building institutional capacity regarding land use and environmental impact.
A Collaborative Approach to Climate Action
The event highlighted the importance of a collaborative strategy, bringing together leaders from government, finance, non-profit organisations, the private sector, academia, and research institutions. This assembly underscores a collective commitment to tackling climate issues through a comprehensive societal approach.
Source: official statements, news agencies, and public reports.
https://www.gov.uk/government/news/uk-and-malaysia-deepen-climate-partnership-through-the-uk-pact-20-country-fund
