The Joint Committee on Climate Change (JC3) has launched the Climate Finance Innovation Lab (CFIL) to accelerate the development of climate-resilient financial solutions through public-private-philanthropic collaboration. CFIL will focus on sustainable finance across four key areas, supporting eligible projects with funding and technical resources.
MALAYSIA, 19 JUNE 2025 – The Joint Committee on Climate Change (JC3) has officially announced the rollout of the Climate Finance Innovation Lab (CFIL) at Bank Negara Malaysia’s (BNM) Sasana Symposium 2025, marking a major step in advancing climate finance and sustainability solutions in Malaysia.
As confirmed during the 14th JC3 plenary meeting earlier this year, CFIL serves as a collaborative platform that brings together the public sector, private investors, and philanthropic institutions. The initiative is designed to co-develop and implement innovative financial instruments that drive Malaysia’s climate transition and build national resilience against environmental risks.
CFIL will concentrate on four thematic areas:
- Energy transition and green innovation
- Sustainable agriculture
- Circular economy and sustainable cities
- Nature-based solutions and biodiversity
The initiative is administered by Bank Pembangunan Malaysia Berhad (BPMB) and will adopt a modular approach to enhance efficiency in the design and rollout of financial products. This structure allows for continuous refinement of ideas and promotes collaboration among stakeholders across sectors.
Through CFIL, eligible project owners will gain access to a comprehensive support framework, including funding, technical assistance, and networking opportunities. This enables them to scale up high-impact climate-related projects and better align with Malaysia’s sustainability objectives.
The lab aims to address critical financing gaps for climate and nature-based initiatives by encouraging the use of blended finance structures, Islamic finance instruments, and innovative funding mechanisms. This multi-sector partnership model is positioned to catalyze private sector involvement and foster a pipeline of transformative projects that support Malaysia’s commitments under national and international climate goals.
CFIL is envisioned to act as an incubator for scalable, catalytic projects that can be replicated across different regions and sectors. By aligning strategic partnerships and innovative financing, JC3 aims to strengthen Malaysia’s leadership in climate action and sustainable development.
Further details about CFIL, including partnership opportunities and eligibility criteria, can be found at www.myCFIL.com or via email at cfil@bpmb.com.my.
