Latest news with #TengkuAmir
The Sun
4 days ago
- Business
- The Sun
Be bold in funding climate-related efforts: Raja Muda Selangor
KUALA LUMPUR: Malaysia needs the private sector, financial institutions and investors to move boldly in funding climate-related efforts, said Raja Muda Selangor Tengku Amir Shah Ibni Sultan Sharafuddin Idris Shah Alhaj. Tengku Amir said institutions such as Khazanah Nasional Bhd, Employees Provident Fund and Permodalan Nasional Bhd need to step up as governments cannot do this alone. 'Imagine the impact if they increased their portfolio allocations towards renewable energy, low-carbon infrastructure, and nature-based solutions,' he said in his speech at the Climate Finance Summit 2025 today. He said Malaysia still needs policy support including more financial incentives, better ESG (environmental, social and governance) regulation and creative financing tools to make it easier for the private sector to fund climate-related efforts. 'Let's learn from Indonesia's Tropical Landscapes Finance Facility, a powerful partnership mobilising over US$1 billion (RM4.23 billion) in blended finance for sustainable land use. Malaysia can replicate this model, adapting it to our needs,' Tengku Amir said. He added that funding still lags far behind what is needed, as Malaysia faces an annual shortfall of RM20 billion to meet its climate goals. 'The 2021 floods alone caused RM6.1 billion in damages. Across Asean, the gap exceeds US$100 billion annually.' Meanwhile, Tengku Amir pointed out that Singapore avoided similar devastation through S$2 billion (RM6.6 billion) in preventive investments. 'The lesson is clear. Inaction costs far more than action. Climate finance is not an expense. It is an investment in survival.' He said strategic finance must go towards solutions such as climate-smart agriculture, flood mitigation, and disaster preparedness, especially after tragedies such as the Batang Kali landslide. Tengku Amir stressed that climate finance must protect Malaysia's most vulnerable, including farmers, fishermen and low-income communities. 'The agriculture sector employs over 10% of Malaysians, yet it is severely impacted by rising temperatures and drought. In some areas, oil palm yields have dropped by 20%. Coastal fishermen in Terengganu and Kelantan face rising sea levels and declining catches.' However, he said there are also success stories. In Kuala Sepetang, Perak, decades of mangrove restoration have protected over 40,000 hectares of forest, boosted eco-tourism, and shielded local communities from storms. He also noted that Malaysia has demonstrated leadership in the past. In 2017, it became the first country in the world to issue a green sukuk, an Islamic financial instrument to fund renewable energy. 'Tadau Energy's green sukuk raised RM250 million to build a solar plant in Sabah. Since then, more issuances have followed,' Tengku Amir said. He added that Malaysia is home to the world's first syariah-compliant carbon market, the Bursa Carbon Exchange, which merges ethics with climate ambition. He concluded that Malaysia should strive to become Southeast Asia's climate finance hub, attracting global capital, driving regional solutions, and delivering on its net-zero 2050 commitment. 'If you're in finance, grow your green investments. If you're a policymaker, clear the roadblocks to climate funding. If you're a business, embed climate action into your model. And if you're young, use your voice and your choices to demand change.' Tengku Amir called on the government, private sector and public to work together to make climate finance the engine of real, urgent and lasting change.
Malay Mail
17-05-2025
- Sport
- Malay Mail
Selangor's Raja Muda unveils vision for Shah Alam Sports Complex as a global sports and cultural icon
SHAH ALAM, May 16 — The Shah Alam Sports Complex (KSSA) is set to be more than just a sports facility as it's envisioned as a vibrant, inclusive space for sports, culture, arts and lifelong learning, reflecting Selangor's spirit and values. Raja Muda of Selangor, Tengku Amir Shah Sultan Sharafuddin Idris Shah, said KSSA is a people-centric, future-ready development that preserves Selangor's heritage while connecting communities locally and globally. 'The true strength of Selangor lies in the well-being of our people. And in that sense, Shah Alam represents something special. I envision a Selangor that is more inclusive, forward-thinking, and focused on long-term sustainability. Where everyone has the opportunity to grow, thrive, and prosper. 'The new KSSA is an integral part of that vision, a journey that has taken me seven years to bring to life. It's more than a stadium. It's a space for everyone-a place where people can come together to be involved in sports, culture, arts and learning.' Tengku Amir said this at the handover ceremony of the Letter of Acceptance (LOA) between Menteri Besar Selangor Incorporated (MBI) and Lembaran Projek Sdn Bhd (LPSB), a subsidiary of MRCB Land, for the KSSA development, here today. Tengku Amir said the project marks a major step in urban renewal, setting a new benchmark in design, construction and stewardship of public spaces. The development integrates sustainable features such as ecological restoration and a state-of-the-art underground flood mitigation system, including a four-hectare retention pond to ease flooding in Section 13. 'KSSA Park will highlight Selangor's rich natural heritage while serving as a dynamic gathering space. Its landscape will honour native ecologies, including swamp habitats and the Royal Selangor Heritage Forest, creating an immersive environment where biodiversity and human activity coexist in harmony,' he said. The Raja Muda of Selangor Tengku Amir Shah (centre) at the Letter of Acceptance Ceremony for the Development of the Shah Alam Sports Complex (KSSA) May 16, 2025. — Bernama pic The park will also offer inclusive facilities such as sensory-friendly playgrounds and creative spaces for art, music, and performance. It will also support multi-generational programmes that connect people with nature, while promoting recreation, learning and community engagement. Tengku Amir also expressed hope for KSSA to become a global icon, on par with London's Queen Elizabeth Olympic Park, the Melbourne Sports Precinct, or Marina Bay in Singapore. 'KSSA is but one chapter in our larger journey — a journey to shape a Selangor that is vibrant, compassionate, and resilient, ready to embrace the future with confidence and grace,' he said. Also present were Selangor Menteri Besar Datuk Seri Amirudin Shari, MBI Selangor group chief executive officer Datuk Saipolyazan M. Yusop and MRCB Chairman Datuk Mohamad Nasir Ab Latif. — Bernama
