On 29 June 2022, the Joint Committee on Climate Change released the task force on climate-related financial disclosures (TCFD) application guide for Malaysian financial institutions, which outlines key recommendations for financial institutions on the implementation of more effective climate-related disclosures. It is supplemented with the relevant descriptions, guidance notes, considerations and examples that could be utilised as practical resources to facilitate the adoption of TCFD recommendations by the Malaysian financial industry.
All financial institutions (local and foreign) are expected to adopt all basic recommendations set out in the TCFD application guide within a recommended period of up to 24 months.
For further information on this topic please contact Pamela Kung at Shearn Delamore & Co by telephone (+60 3 2027 2911) or email ([email protected]). The Shearn Delamore & Co website can be accessed at www.shearndelamore.com.