The 26 sessions , featuring 39 prominent speakers representing local and international voices from various areas of focus , attracted close to 910 attendees .

JOURNEYING TO NET ZERO

The pursuit of achieving net zero by 2050 has emerged as a shared goal , driving both policy and action across various sectors globally . However , while technological innovations and regulatory frameworks are evolving , the real challenge lies in ensuring climate finance flows smoothly for sustainable climate action .

Secretary-General , Ministry of Natural Resources and Environmental Sustainability ( NRES ), Datuk Dr Ching Thoo said : “ The climate challenges we face today require international solidarity and partnership . As we hold the chairmanship of ASEAN next year , we are committed to setting the right precedent in driving transboundary collaboration .

“ We are dedicated to strengthening cooperation across ASEAN , recognising that our environmental challenges are interconnected . We aim to enhance our region ’ s resilience , support sustainable economic growth , and establish climate-conscious policies that serve the people and economies of

all member countries .”

In a panel discussion , panellist Shahril Azuar Jimin , Group Chief Sustainability Officer of Maybank , highlighted the need for climate adaptation to be done according to locality as there is no one-sizefits-all for the unique ASEAN landscape .

This dialogue led by Joel Khaw , Head of MIND and Sustainability at Bank Pembangunan Malaysia Berhad ( BPMB ) further emphasised the urgent need for financing climate adaptation strategies in ASEAN .

The conversation also covered investment opportunities for adaptation financing and actionable insights for overcoming financing challenges across ASEAN .

To address these urgent challenges , developed countries like the UK have advanced collaboration on climate mitigation and adaptation with developing countries like ASEAN who have growing carbon emitting regions

and biodiversity hotspots .

Initiatives such as the ASEAN- UK Green Transition Fund ( GTF ) and UK Climate Adaptation and Resilience ( CLARE ) programme not only aim to accelerate ASEAN ’ s transition to a clean , climateresilient economy by reducing emissions , promoting green economic growth , and improving the lives of vulnerable communities but also scale up research and innovation efforts through improved climate risk data , enhanced decision-making tools , and better climate adaptation solutions for urban climate resilience in ASEAN .

Anneliese Dodds , Minister for Development at the Foreign , Commonwealth and Development Office and Minister for Women and Equalities , in her opening keynote address , said : “ With over 680 million lives at risk from the climate and nature crisis , we recognise the shared ambitions of our partners , be it in Malaysia and across ASEAN .

“ Nearly a quarter of our UK- ASEAN Plan of Action focuses on energy , climate , and the environment . To further this , the UK-ASEAN GTF , which has provided up to £ 40 million over five years , aims to accelerate the green transition through shared expertise and commitment .”

The Asian Development Bank ( ADB ), in collaboration with the Coalition of Finance Ministers for Climate Action and the Government of Malaysia , has also hosted an insightful session at the Malaysia Pavilion focused on the Fiscal Resilience Initiative ( FRI ). During the session , a new report titled “ Climate-Resilient Fiscal Management : Experience from Southeast Asia ” was also introduced .

The report includes best practices from the region on assessing and managing climate-related fiscal risks and mobilising climate finance . This is the first report under the ASEAN Climate Finance Policy Platform launched in 2024 to facilitate dialogue and enhance capability in finance ministries .

CLIMATE-RESILIENT FUTURE

Malaysia ’ s journey towards a just energy transition is critical in balancing economic growth with sustainable development . Fossil fuels currently account for 20 per cent of the nation ’ s GDP and support over 3,500 businesses , making them a significant pillar of the economy .

Despite these figures , Malaysia is firmly committed to addressing climate change , setting ambitious targets to reduce carbon emissions by 45 % relative to GDP .

At the Malaysia Pavilion , discussions on the country ’ s

WEEK 1 at the Malaysia Pavilion concluded with an emphasis on the transformative role of climate tech innovations and data platforms in supporting the larger climate agenda .

These innovations are not only driving sustainability but also contributing to climate adaptation and mitigation efforts across Southeast Asia and the broader

ASEAN region .

From near-zero emission power systems to cross-border grids that accelerate regional decarbonisation , like the ASEAN Power Grid , provides a strategic cross-border energy integration that can serve as a strategic , cost-effective solution for decarbonisation within the region .

Moreover , the integration

of data platforms is reshaping solutions across key sectors , from agriculture to energy and biodiversity .

These solutions not only unlock renewable energy potential and innovative energy storage solutions but also accelerate policy and regulatory reforms , securing sustainable financing , and navigating social and economic implications

for a more sustainable and resilient tomorrow .

The Malaysia Pavilion at COP29 is spearheaded by the Ministry of Natural Resources and Environmental Sustainability ( NRES ) in collaboration with the Malaysian Green Technology and Climate Change Corporation ( MGTC ) as the implementing agency .