MIDA, UNDP set to launch Malaysian SDG Investor Map in 2023

KUALA LUMPUR, Dec 6 (Bernama) -- The Malaysian Investment Development Authority (MIDA) and the United Nations Development Programme (UNDP) of Malaysia, Singapore, and Brunei Darussalam are set to launch the inaugural Malaysian Sustainable Development Goals (SDG) Investor Map in 2023.

MIDA said that the map will provide insights and tools needed by the private sector to increase their investments towards the SDGs and fill the financing gap faced by the government with regard to meeting the SDG targets. 

“The SDG Investor Map will assist in unveiling untapped opportunities that have the potential to spur rapid development,” said MIDA chairman Tan Sri Sulaiman Mahbob in a statement.

He said that it will also provide the government with a clear direction to focus on new areas that could benefit from policy implementation and provision of resources, such as human capital and capacity-building initiatives.

Meanwhile, the UN under-secretary-general and UNDP associate administrator Usha Rao-Monari said that now is the time for private businesses and investors to place their bets on climate-sensitive investments and not just hedge their climate risks.

“(They are able) to make real business value from green products and services, (as well as from) climate mitigation and adaptation solutions.

“By venturing into new products and services that contribute to climate solutions, businesses can gain good market returns and be a leader in their respective industries,” she said.

Accordingly, MIDA noted that as reported by the Global Commission on Adaptation in 2019, a US$1.8 trillion (US$=RM4.40) investment in climate change adaptation measures is expected to bring a return of US$7.1 trillion in avoided costs and other benefits.

Both Sulaiman and Usha were giving their remarks at the ‘Private Sector Dialogue on the SDG Investor Map,’ themed “Sustainability Does Matter: Investing for a Better Future”, co-organised by UNDP and MIDA here today.

The dialogue aimed at engaging with industry players in identifying new investment opportunities with potential contributions to SDGs, while generating attractive market returns.

-- BERNAMA