Latest news with #MFF
The Star
13-06-2025
- Business
- The Star
KWAP, MFF INK MOU TO ACCELERATE BIODIVERSITY, NET ZERO GOALS
KUALA LUMPUR: The Retirement Fund Inc (KWAP) signed a memorandum of understanding (MoU) yesterday with the Malaysia Forest Fund (MFF) aimed at advancing Malaysia's sustainability agenda through forest-based solutions. The partnership is a step in supporting Malaysia's transition to a net-zero economy and reinforces KWAP's commitment to achieve Net Zero Portfolio by 2050, a key element of its broader environmental, social and governance (ESG) strategy. The signing ceremony, held in conjunction with the KWAP Inspire Satellite 2025 event and witnessed by Secretary General of the Treasury and KWAP's chairman Datuk Johan Mahmood Merican, marks the beginning of a collaboration to advance forest conservation and nature-based solutions (NBS). This MoU also supports the development of credible and scalable national carbon credits to help KWAP's investee companies meet their decarbonisation goals. KWAP chief executive officer (CEO) Datuk Nik Amlizan Mohamed said, 'The collaboration with MFF will be a game-changer for both KWAP and Malaysia's broader sustainability efforts. 'As a responsible institutional investor, KWAP is committed to driving stewardship through impactful actions and pursuing purpose beyond returns. 'By contributing to the development of a credible, nationally anchored carbon ecosystem, we aim to empower our investee companies with the tools they need to meet their net-zero commitment while also making significant contributions to Malaysia's climate and biodiversity goals.' The MoU features the Forest Conservation Certificate (FCC) to support domestic conservation initiatives, focusing on preserving Malaysia's vital biodiversity and ecosystems. MFF will also oversee development of the Forest Carbon Offset (FCO), a market-based mechanism that allows companies to offset their emissions through investments in forest conservation projects that reduce, remove and avoid carbon emissions. Through this MoU, KWAP has become a participant in the National Forest Carbon Offset (FCO) technical working group (TWG), established by MFF. The group aims to ensure the needs of institutional investors – including the nuances of ESG investing, are integrated into the framework, where relevant. This participation will also help align FCO standards with international carbon market requirements and best practices. These initiatives, aligned with Malaysia's National Climate Change Policy 2.0, aim to drive knowledge-sharing and capacity-building efforts to enhance participants' skills in forest management and carbon offsetting. This includes supporting the achievement of targets such as a 45% reduction in carbon intensity by 2030 and Net Zero GHG Emissions by 2050, as well as Malaysia's commitment to maintaining at least 50% forest and tree cover. MFF CEO Datuk Shah Redza Hussein said, 'This collaboration with KWAP is a pivotal step in our mission to strengthen Malaysia's carbon market, achieving the nation's sustainability targets and accelerating meaningful climate action. 'By leveraging nature-based solutions, particularly through the Forest Conservation Certificate and the upcoming Forest Carbon Offset, we are creating a pathway for businesses towards achieving net-zero goals while supporting forest conservation, aligning with national climate commitments. 'Our work with KWAP and other stakeholders will drive long-term environmental and economic benefits, not only for Malaysia but for the global community as we strive towards a greener and more resilient future.' The collaboration puts KWAP as a sustainability thought leader, enhancing its reputation in the financial sector while contributing valuable insights to both domestic and international markets. By exploring potential integration of nature-based solutions into its ESG investment and non-investment strategies, KWAP reinforces its role in advancing Malaysia's decarbonisation agenda and setting a strong example for other institutional investors. KWAP and MFF will continue to explore opportunities to enhance the Forest Carbon Offset system and other potential nature-based solutions initiatives, ensuring they become key drivers for sustainable development in Malaysia. The partnership will also support ongoing efforts to build local capacity for biodiversity and forestry management, ensuring that the benefits of the projects reach the communities directly involved. KWAP also build on its MFF collaboration by engaging with interested parties to drive collective action, with the hopes of exploring potential collaborations with fellow GLICs and relevant organisations, in line with the Ministry of Finance's Government-linked Enterprise Activation and Reform Programme (GEAR-uP) initiative, aimed at synergising efforts across Government-linked Entities for national impact. This collaboration represents a critical next step in KWAP's broader commitment to empowering partnerships that drive collective action for sustainability, as outlined in its Sustainability Pledge 2, 'Empower Partnerships for Collective Action.' By joining forces with MFF and other stakeholders, KWAP helps preserve Malaysia's forests and the communities that depend on them for future generations.
New Straits Times
12-06-2025
- Business
- New Straits Times
KWAP to advance Malaysia's sustainability agenda via forest-based initiatives
KUALA LUMPUR: Kumpulan Wang Persaraan (Diperbadankan) (KWAP) has signed a memorandum of understanding (MoU) with Malaysia Forest Fund (MFF) to advance Malaysia's sustainability agenda through forest-based solutions. Chief executive officer Datuk Nik Amlizan Mohamed said the collaboration will be a game-changer for both KWAP and Malaysia's broader sustainability efforts, reinforcing its commitment to drive stewardship through impactful actions and pursuing purpose beyond returns. "By contributing to the development of a credible, nationally anchored carbon ecosystem, we aim to empower our investee companies with the tools they need to meet their net-zero commitment while also making significant contributions to Malaysia's climate and biodiversity goals," she said. The MoU features the Forest Conservation Certificate to support domestic conservation initiatives, focusing on preserving the country's vital biodiversity and ecosystems. MFF will oversee the development of the forest carbon offset, a market-based mechanism that allows companies to offset their emissions through investments in forest conservation projects that reduce, remove and avoid carbon emissions. Through the partnership, KWAP becomes a participant in the National Forest Carbon Offset technical working group established by MFF. The working group aims to ensure the needs of institutional investors, including the nuances of ESG investing, are integrated into the framework, where relevant. This participation will also help align foreign carbon offset standards with international carbon market requirements and best practices. MFF chief executive officer Datuk Shah Redza Hussein said the partnership is a pivotal step in the mission to strengthen Malaysia's carbon market, achieving the nation's sustainability targets and accelerate meaningful climate action. "By leveraging nature-based solutions, particularly through the Forest Conservation Certificate and the upcoming Forest Carbon Offset, we are creating a pathway for businesses towards achieving net-zero goals while supporting forest conservation, aligning with national climate commitments. "Our work with KWAP and other stakeholders will drive long-term environmental and economic benefits, not only for Malaysia but for the global community as we strive towards a greener and more resilient future," he added. KWAP and MFF will continue to explore opportunities to enhance the forest carbon offset system and other potential nature-based solutions initiatives, ensuring they become key drivers for sustainable development in Malaysia. The partnership will also support ongoing efforts to build local capacity for biodiversity and forestry management, ensuring that the benefits of the projects reach the communities directly involved. KWAP also will continue working with MFF by engaging interested parties to drive joint initiatives. This includes possible partnerships with other government-linked investment companies and organisations, in support of the GEAR-uP seek to build upon its collaboration with MFF by engaging interested parties in driving collective action.
Agriland
11-06-2025
- Business
- Agriland
‘Critical that CAP is fully funded'
Fianna Fáil TD, Malcom Byrne has said that it is 'criticial' that the Common Agricultural Policy (CAP) is fully funded should Ukraine enter the European Union. Speaking in the Dáil yesterday (June 10), the Taoiseach, Micheál Martin outlined the details of a European Council meeting on March 20, 2025, where the EU's multi-annual financial framework was discussed. According to the Taoiseach, EU leaders had a 'first exchange of views' on the next iteration of the EU's long term budget (MFF), and that the European Commission is expected to publish it's proposal for the next MFF. Deputy Byrne believes that it is 'essential and correct' to support Ukraine's path to membership of the EU. He said: 'From Ireland's point of view, it is critical that the CAP is fully funded and is not just there to meet current requirements. 'While it is essential and correct that we support Ukraine's path to membership, CAP must be sufficient to meet the needs of an enlarged European Union, particularly in terms of Ukraine being a sufficient beneficiary under pillar 2,' Deputy Byrne added. European Union The Wicklow – Wexford TD also claimed that the Taoiseach has been 'very supportive' regarding European competitiveness. 'It is critical that we see movement on the capital markets union to ensure greater availability of capital throughout Europe,' Deputy Byrne said. 'This does not just benefit business; it also benefits consumers because consumers in Ireland could see better value in terms of financial and insurance products,' he added. The Taoiseach said that he has spoken to the President of the EU Commission, Ursula von der Leyen about the CAP budget. He said: 'I met the President of the Commission about six weeks ago for a substantive meeting on a range of issues. 'I emphasised the importance of the (CAP) retaining its core ring-fenced funding framework. One of the issues will be around how we can increase it. 'The significant pressure on the multi-annual financial framework will be more and more pressures to spend more in different areas but no concrete proposals in terms of additional revenues,' the Taoiseach added.
Agriland
04-06-2025
- Business
- Agriland
20 agriculture ministers sign letter calling for two-pillar CAP
20 agriculture ministers across EU member states, including Ireland, have written to the European Commission for Budget, Anti-Fraud and Public Administration calling for an adequate budget for the Common Agricultural Policy (CAP). The member states participating in the Joint Declaration included: Austria; Belgium; Bulgaria; Croatia; Cyprus; Czechia; France; Greece; Hungary; Ireland; Italy; Latvia; Lithuania; Luxembourg; Poland; Portugal; Romania; Slovakia; Slovenia; and Spain. The European Commission is understood to be planning a radical overhaul of the EU budget – the Multiannual Financial Framework (MFF) – as part of which the commission is planning to merge its various funding programmes into a smaller number of funds, which would be allocated all together to member states. This could not only see the merging of funding for both pillars of CAP, but potentially also the end of ringfenced funding for CAP, farm organisations have warned. The declaration by the 20 agriculture ministers underlines 'the urgent need for an independent and forward-looking CAP capable of ensuring the sustainable competitiveness of the EU's agricultural sector while responding to market dynamics, societal expectations and territorial cohesion objectives'. It reaffirmed 'the importance of maintaining a separate, strong and ring-fenced two-pillar architecture of the CAP which continues to provide a balanced and coherent framework'. The declaration states: 'Pillar I remains vital in delivering fully EU funded direct support and market stability to all farmers, especially in the current geopolitical context, while Pillar II plays a key role in addressing demographic trends in rural communities, promoting rural development, investments to [modernise] farms and rural infrastructures, environmental protection and local innovation while supporting areas with natural constraints and specific disadvantages.' Minister for Agriculture, Food and the Marine, Martin Heydon, who was among the ministers who endorsed the declaration, said: 'The joint statement by 20 EU agriculture ministers including myself underlines the fundamental importance of CAP as a common policy across the EU. 'I hope that the commission's proposals in July for the next EU budget (MFF) will take account of the unique role CAP plays in supporting the economic, social and environmental sustainability of farming and our rural communities, promoting innovative and competitive food production, and assuring European food security. 'We are calling on the European Commission to ensure that the next CAP has a dedicated and robust budget, maintaining its current two-pillar structure.' Acknowledging Minister Heydon's statement, the president of Irish Creamery Milk Suppliers' Association (ICMSA), Denis Drennan, said that farmers would be reassured by the sentiments expressed. He added that farmers would interpret them as the minister signalling Ireland's intention to veto any proposed 'merger' of the two existing pillars of CAP into a fund that would drain funding away from active farming and food production towards more environmentally ideological causes. Drennan said that it is essential that the government remains steadfast and fully supports the ministers' position on CAP funding post-2027. 'Farmers will understand the minister's comments as underlining the Irish Government's commitment to maintaining both existing pillars and refusing to countenance any deductions – most specifically any deductions from the direct payments emanating from CAP through moving funding into wider funding models that would ultimately means less funding for Irish farming and the rural economy,' Drennan said.
Agriland
29-05-2025
- Business
- Agriland
Heydon committed to 2-pillar CAP but has no ‘crystal ball'
Minister for Agriculture, Food and the Marine Martin Heydon has reaffirmed his commitment to the traditional two-pillar structure of the Common Agricultural Policy (CAP), but has said he has no 'crystal ball'. The minister was speaking at his first appearance as a senior minister in front of the Joint Oireachtas Committee on Agriculture, Food and the Marine. A range of topics came up, with CAP, and its future post-2027, being one of the main issued raised by TDs and senators on the committee. The European Commission is understood to be planning a radical overhaul of the EU's long-term budget, the Multiannual Financial Framework (MFF), in which the funding to member states would be consolidated into a single funding pot, with member states then developing a plan to outline how they would use that funding. This has sparked concern that the two-pillar structure of CAP, and even a dedicated budget for the entire CAP, could be scrapped in favour of a single member state fund. The minister was quizzed on this by Roscommon-Galway TD Michael Fitzmaurice, who asked: 'The overall budget in CAP, is it going to be bigger, yes or no? Is Ireland's budget going to be bigger to accommodate it if we're going to be tweaking around on it? Are we going to have Pillar I and Pillar II, is it going to be the same system?' In answer to Fitzmaurice, the minister said: 'Apologies deputy, I left my crystal ball at home, so I don't have that, and we'd all love to know those answers. 'What I can tell you is we'll know in the middle of July. Around July 16 is when these [plans] are going to be announced, and all I can tell you is we are doing everything in our power. 'I can't be clearer – we want to maintain the [CAP] fund, we want to maintain Pillar I and II, we want a fully funded CAP,' he added. 'Will we get that?… We know all the other demands there are on other sides.' Fitzmaurice then asked if, in a situation where the CAP in its traditional form was not forthcoming, the government would be prepared to step in and 'prop it up'. Minister Heydon said: 'We could end up with so many different scenarios here… If what was leaked out in terms of a single fund was to come about…I would make the point that it would be a very bad thing. That would mean renationalisation of our system. It would actually undermine the whole [EU] single market. 'I'm not going to get into predicting what might come of what outcome, because there's so many different outcomes there can be here. 'What I can tell you right now is we are making every effort across government to put our best foot forward to maintain a fully funded cap with the traditional structure that has served our sector so well,' he added. The minister also noted that, in the second half of 2026, when the CAP budget is likely to be finalised, Ireland will hold the rotating presidency of the Council of the EU, one of the legislative bodies of the EU, meaning Minister Heydon, if he is still in office, will be the chairperson of the council of agriculture ministers during that period. He said: 'The first element of this is actually the MFF. What happens with the overall budget will totally determine what happens with CAP. 'In terms of the role we play in the agriculture council… What we do have is, in the second half of 2026, I'll be the chair of the council of ministers and, as we're working through that, we'll be working on the basis of consensus. 'I'm meeting with every other minister bilaterally to understand their priorities and so they understand our priorities… Hopefully before the end of 2026 under the Irish presidency, I;ll be in a position to get that CAP over the line by means of consensus.
