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Budget 2023 to prioritise environmental sustainability, says Tengku Zafrul

Budget 2023 to prioritise environmental sustainability, says Tengku Zafrul

20 September 2022

KUALA LUMPUR: Budget 2023 will prioritise environmental sustainability and sustainable financing of the economy, says finance minister Tengku Zafrul Aziz.

He said the government will also issue up to RM10 billion in sustainability sukuks, which will begin in the fourth quarter of this year, to fund eligible social and environmental-friendly projects under the current national budget.

“The finance ministry has also enhanced the government’s green procurement policy to encourage the use of green products and services and aims to incorporate environmental consideration in all government-based procurements,” he said at the Cooler Earth Sustainability Summit 2022.

Tengku Zafrul said the finance ministry has issued six public consultation papers for Budget 2023, three of which are related to sustainable development and environmental, social and governance matters.

“The ministry is finalising an integrated national financing framework, which is tailored to the country’s needs,” he said. “We are also developing a more sustainable framework for the financing sector.”

He said the ministry hopes to collaborate with the private sector to ensure the economy flourishes in a sustainable manner. The government, he said, is committed to balancing economic growth with environmental sustainability, adding that Putrajaya would protect the needs and livelihoods of the public, especially the underprivileged.

It will do so by facilitating employment opportunities in new and transitional industries and by providing opportunities for reskilling and investing in alleviating energy poverty, especially in rural areas, as well as making clean affordable energy more accessible to all.

Budget 2023 will be tabled on Oct 7.

The Cooler Earth Sustainability Summit 2022, organised by CIMB Group, brings together experts and industry players to discuss sustainable economic and business development.

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