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Islamic Finance: Mitigating Climate Risk for Islamic Financial Institutions – Why It Matters

November 2, 2020


  • The RFI Foundation will be launching a report to identify the climate-related financial risks facing Malaysia's banking system and capital markets as a result of the greenhouse gas (GHG) emissions that result from activities financed in the economy. The report presents a detailed quantitative, top- down analysis to categorize the source of financing for the GHG emitted from both direct producers, households and how other economic activities embed GHG emissions as a result of their acting as a source of demand for electricity, transportation and waste management, three sectors that account for the largest share of Malaysia's GHG emissions.

    Key highlights of the report include (i) the regulatory response to climate change as it affects the financial sector in Malaysia, including the policies designed to increase the availability of information from non-financial companies relating to climate-related financial risks, as well as those put in place to improve financial institutions' and asset owners' ability to integrate this information into their business decision-making; (ii) the breadth of the impact of climate-related financial risks beyond those sectors traditionally identified as major direct sources of GHG emissions; and (iii) a holistic view about how banks, asset owners and managers, regulators and policymakers and other stakeholders are exposed to climate-related risks linked to the transition to a low-carbon economy. In deepening the sustainable finance markets, the World Bank will partner with RFI in delivering the webinar on why addressing the climate-related risk matters for Islamic financial institutions.

  • HOST: Rozani Osman, Senior Financial Sector Specialist, World Bank

    PRESENTER: Identifying the climate risks facing Malaysia’s financial system, Blake Goud, CEO, Responsible Finance & Investment Foundation [Presentation Slides]

    PANEL DISCUSSION: Mitigating climate-risk for Islamic financial institutions – why it matters

    MODERATOR: Cecile Thioro Niang ,Practice Manager (East Asia and Pacific), Finance Competitiveness and Innovation Global Practice, World Bank


    • Alizakri Alias, CEO, Employees Provident Fund
    • Eqhwan Mokhzanee Muhammad, CEO, AmBank Islamic Berhad
    • Angelia Chin-Sharpe, CEO & Country Head Malaysia, BNP Paribas Asset Management [Presentation Slides]
    • Promod Dass, CEO of RAM Sustainability & Deputy Group CEO of RAM Holdings Berhad [Presentation Slide]


  • WHEN: November 2, 2020: 2:00pm - 3:30pm
  • WATCH: Watch Recording