LONDON:The UK Partnering for Accelerated Climate Transitions (UK PACT) programme has today announced that five innovative climate projects in Malaysia valued at £1.4 million are being funded through the Malaysia-UK PACT programme.
UK PACT is a £70 million flagship programme that is part of the UK’s £11.6 billion commitment to International Climate Finance by 2026 to tackle climate change and is funded by the UK’s Department for Business, Energy and Industrial Strategy (BEIS). Through its grants, UK PACT aims to improve the capacity and capability of key public, private and civil society institutions to reduce emissions and foster inclusive economic growth in partner countries, including Malaysia.
All five projects were chosen through an open, competitive call for proposals, receiving between £100,000 and £350,000 each. These capacity-building projects will promote low-carbon and nature preservation initiatives in Malaysia while supporting the improvement of livelihoods of marginalised communities. The organisations implementing the projects and their partners will support and work with key public sector beneficiaries at national, state and local levels to build capacity in key priority areas, including:
green finance: to leverage Malaysia’s leadership position to incentivise and remove barriers for green finance through improved disclosure, increased transparency and data-driven decision making through considerations of climate and environmental risk disclosure
energy: to enhance Malaysia’s energy transition pathways through initiatives for community renewable energy access and generation
nature: to develop enabling conditions for nature-based carbon finance to conserve forests and biodiversity
low carbon planning: to support the integration of carbon emissions reduction and monitoring in planning land use in cities and the green economy
British High Commissioner to Malaysia His Excellency Charles Hay MVO, said:Malaysia is one of the most eco-diverse countries in the world. We want to support Malaysia’s transition to a low carbon economy and reduction of emissions in line with the Paris Agreement, and to preserve natural resources for future generations. Through UK PACT, we look forward to working with Malaysia to help develop capabilities in the areas of green finance, energy, nature and low carbon planning, in line with Malaysia’s Nationally Determined Contribution.