The Malaysian government plans to issue its first sustainability bond for environmental and social initiatives next year as the country lays the foundation for an orderly transition to a low carbon economy, Bank Negara Malaysia (BNM) deputy governor Datuk Abdul Rasheed Ghaffour said. During his keynote speech at the third Singapore-China (Chongqing) Financial Summit 2020, Abdul Rasheed said Malaysia is developing a principles-based taxonomy to guide financial institutions to classify economic activities that contribute to climate change objectives. "These complement efforts by the Islamic finance industry in driving the sustainability agenda through the value-based intermediation strategy,” he said.

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