Source: Eco-Business

Bankable projects with clear ROI metrics vital to plug Malaysia's RM130 billion adaptation deficit

Kuala Lumpur, 24 July: Climate finance will need to shift towards strengthening market capacity and commercial viability to help Malaysia meet its urgent adaptation needs but is strained by a lack of bankable projects, clear metrics and project fragmentation, said regional leaders at the flagship www.eco-business.com/events/unlocking-capital-for-sustainability-2026-malaysia/” style=”color:#1155cc;text-decoration:underline;”>Unlocking capital for sustainability summit in Malaysia yesterday.

Malaysia requires approximately US$32.56 billion (RM133 billion) in disaster risk reduction and resilience in the coming decades to cope with mounting risks such as floods, droughts, coastal degradation and nature loss.

Edward Vrkić, resident representative for UNDP Malaysia, Singapore and Brunei Darussalam, said there is a “mismatch between what investors are looking for and how climate projects are currently structured.”

“Nature and climate adaptation is competing for capital against a mitigation story that sells better. Regulatory drivers, ESG pressure and familiar deal structures channel private capital into renewables and electric vehicles, leaving adaptation largely public-led. At the same time, Malaysia's National Adaptation Plan (MyNAP) remains under development, so financing lacks a unifying framework and a prioritised project list,” he said during his keynote address.

Aligning climate, economic and business realities

H.E. Ajay Sharma, British high commissioner to Malaysia, said in his special address: “One of the roles of international financiers is to address the risks preventing private capital from flowing into viable opportunities. That is why our international climate finance is now more focused on helping markets to work better, strengthening project bankability – especially among SMEs, and helping private capital flow at scale and to the right places.”

“This includes programmes such as the UK Partnering for Accelerated Climate Transitions (UK PACT) to help countries' transition to a low carbon economy, the Climate Finance Accelerator to support climate enterprises become investment ready and mobilising investments through vehicles such as British International Investment and MOBILIST.”

Meanwhile, companies that treat projects such as decarbonisation as a compliance obligation frequently fall behind, missing out on new and lucrative opportunities, Kati Ferry, chief executive officer for EUROCHAM Malaysia, said.

“The companies that treated it as an engineering, investment and market opportunity began developing cleaner technologies, reducing energy use, redesigning manufacturing processes and creating new products and services. Those are often the companies now winning new contracts, attracting talent, improving efficiency and preparing themselves for the markets of the future,” she said in her closing address.

This includes the TechnipFMC facility in Johor which, though lacking a major upfront investment, became feasible due to a financing model which matched the operational needs of the customer, she said.

“The capital was available. The technology was available. What unlocked the project was the right commercial agreement.”

Asia setting the pace for the transition

Organised by Eco-Business in partnership with the United Nations Development Programme (UNDP), alongside strategic partner, AmBank Group, and supporting partners, Control Union Malaysia, Roundtable on Sustainable Palm Oil (RSPO) and TOMRA, the 2026 edition of Unlocking capital for sustainability – Malaysia convened over 230 delegates from government, finance and industry under the theme of “Financing growth for a resilient economy”.

Jessica Cheam, founder and CEO for Eco-Business, said Asia is proving to be a region where sustainable finance is built and not just discussed, with Malaysia itself writing the rules in this space before the investments arrive.

“It has been so encouraging to see that Malaysia has built on the momentum of the Asean chairmanship last year and moved from rhetoric to regulation. The Securities Commission's Capital Market Masterplan 2026-2030 now targets RM90 billion to RM100 billion in cumulative sustainability financing by the end of the decade,” she said in her opening remarks.

“Alongside it, a National Carbon Market Policy has laid the groundwork for a national carbon credit ecosystem, ahead of a carbon tax on iron, steel and energy that government has, for now, chosen to delay given the economic headwinds.”

Fostering connections through tailored, impact-driven sessions

The sustainable finance forum also featured curated dialogues on nature and biodiversity's role in shaping finance and business strategy, led by PwC Malaysia and AmBank Group; financing Malaysia's Transitioning Industrial Clusters, led by MyDIGITAL Corporation and PEMANDU Associates and attended by Datuk Dr Haji Hazland Haji Abang Hipni, deputy minister for Energy and Environmental Sustainability Sarawak; helping Malaysian SMEs turn climate risks into business opportunities, led by Funding Societies Malaysia and Generali Insurance Malaysia;

and financing the shift from a linear to a circular economy, featuring supporting partner TOMRA.

It also hosted an exclusive roundtable the next day on the topic of www.eco-business.com/events/making-circularity-work-aligning-policy-markets-and-stakeholders/” style=”color:#1155cc;text-decoration:underline;”>”Making circularity work: Aligning policy, markets and stakeholders”, featuring the participation of the Ministry of Housing and Local Government (KPKT) and exploring how policy, capital and disclosure frameworks can align for circular economy adoption.

Unlocking capital for sustainability is hosted in six markets across Asia in 2026. In addition to Kuala Lumpur, the flagship forum was hosted in Jakarta in June and will be hosted Manila in August, Singapore and Bangkok in September and Hong Kong in November.

For more information on next month's Philippines' forum, visit the www.eco-business.com/events/unlocking-capital-for-sustainability-2026-philippines/” style=”color:#1155cc;text-decoration:underline;”>Eco-Business event page.

About Eco-Business

Established in 2009, Eco-Business is Asia Pacific's leading business intelligence and advisory platform dedicated to advancing sustainable development. We produce trusted, high-quality multimedia content exploring the world's most pressing challenges—and the solutions driving change. Our work is aligned with the 17 United Nations Sustainable Goals (SDGs) and supported by a 15-year archive of news, analysis, research, and events on sustainable development topics. Headquartered in Singapore, we have a presence in Manila, Kuala Lumpur, Jakarta, Bangkok, Hong Kong, Beijing, and London.

For more information, visit www.eco-business.com.

United Nations Development Programme (UNDP)

UNDP is the leading United Nations organization fighting to end the injustice of poverty, inequality, and climate change. Working with our broad network of experts and partners in 170 countries, we help nations to build integrated, lasting solutions for people and planet.

Learn more at www.undp.org and www.undp.org/malaysia” style=”color:#1155cc;text-decoration:underline;”>www.undp.org/malaysia.

About Unlocking capital for sustainability

Unlocking capital for sustainability is an annual flagship event organised by Eco-Business in partnership with UNEP FI that brings together high-level decision makers in finance, business, government and civic society to discuss and commit to actionable initiatives that mobilise the capital markets for sustainable development projects. Our full list of knowledge partners – past and present – can be found at www.unlockingcapitalforsustainability.com.

Source: Tax Justice Aotearoa

24 July 2026

The figures used by the Treasury to predict the rate of reduction in in-scope wealth in the event of a wealth tax being adopted, have been described as wrong by tax reform group, Tax Justice Aotearoa.

“There is no empirical evidence supporting Treasury's apparent assumption that if you double the tax rate from 1% to 2%, you will get double the reduction in revenue from behavioural change. There is no evidence for a linear behavioural response from taxpayers to changes in tax rates,” says Tax Justice Aotearoa spokesperson Nick Miller.

A front page article in the NZ Herald yesterday relied on modelling Treasury undertook to assess the likely impact of the Labour Party's proposed wealth tax in 2023 – a tax that was dropped following intervention from Labour leader Chris Hipkins. In 2023 Treasury estimated that a 1% would result in a 17.5% reduction in the in-scope wealth base, but noted the estimate was “subject to significant uncertainty”. The Herald article referred to the Green's policy for a tax of 2.5% on wealth over $10 million and suggested that, using the 2023 methodology, 43.75% of the affected tax base would be moved off shore.

“The suggestion in the Herald article that a 2.5% wealth tax rate would result in a loss of 43.75% from the wealth base relies wholly on the assumption that there will be a linear behavioural response to increases in the wealth tax rate. This assumption is not mentioned in the 2023 Treasury advice to ministers cited in the Herald article,” says Miller.

“Behavioural changes are impacted by multiple factors, including the design of the tax, socio- economic pressures, geopolitical events, changes in tax in other jurisdictions, the efficiency of the revenue administration and any legislative responses to tax avoidance.”

Tax Justice Aotearoa has also criticised the Treasury's assumption of a 17.5% reduction in the wealth base if a 1% tax was imposed on an exemption basis, as not appearing to be evidence based.

“The UK Wealth Commission Report from 2020 estimates a loss of 7-17% of the tax base on a 1% tax and this is, according to the report, based on evidence from countries with annual wealth taxes. The range alone indicates that estimating behavioural response is a highly inexact science”, says Miller.

“Furthermore the modelling in the Treasury paper appears to suggest a tapering off of the behavioural response. Table 2 in the paper shows an estimated yield of $1.5bn from a 1% tax applied to a $10m threshold and $2.7bn from a 2% tax applied to the same threshold. It is stated that the figures reflect an estimated 17.5% reduction in the wealth base for a 1% tax.”

“The report is silent about whether, as the Herald article suggests, the reduction in the base is linear – i.e. it would double from 17.5% to 35% if the tax rate doubled. The numbers in the report indicate an expected behavioural response resulting in a reduction in the base of 25% rather than 35% for a tax rate of 2%.*”

The Treasury does not appear to have modelled a linear response and has instead assumed that the behavioural response will taper off. The conclusions therefore drawn by the Herald article appear to be incorrect

*This point can be illustrated as follows:

A 1% tax charge on the $10m threshold yields $1.5bn after the 17.5% reduction. Therefore the yield before that reduction – the “gross” yield would be $1.8bn (1.5bn x 100/82.5). The “gross” yield from a 2% charge would be exactly double – around $3.6bn. Applying a 35% reduction (that is assuming a linear behavioural response) the expected yield would be around $2.35bn but the estimated yield in table 2 is instead $2.7bn. This indicates an overall reduction in the wealth base of about 25% rather than 35%.

Source: BayBuzz

The week ahead: From Friday 24 July

Make the most of winter this week. A great mix of music, movies, markets, comedy and family fun, plus the Italian Film Festival continues in both Havelock North and Ahuriri. Whether you’re after a relaxed Sunday morning at the markets, a night of laughs or something a little different, there’s lots to get you out of the house.

Illuminate Light Show – Splash Planet (Fri 24 – Sun 26 & Thurs 30 July – Sun 2 August)

Splash Planet is getting a whole new look after dark, with stunning light displays, immersive installations, food, rides and music. A fun one for the whole family.

Illuminate Light Show details

Napier Repair Café (Sat 25 July)

Got something broken gathering dust at home that you'd really like to use instead? Take it along to the Napier Repair Café and let the clever volunteers see what they can do. From clothing and small appliances to bikes, furniture, toys and more, it’s a great way to give something a second life and you might even pick up a few repair skills along the way!

Sustainable Napier

A Small Hall Session with Delaney Davidson (Thurs 30 July and Friday 1 August)

If live music in an intimate setting is your thing, Delaney Davidson is bringing his latest album to Pukehou Christ’s Church on Thursday night (and again at Te Awanga Community Hall on Friday). Add in a pop-up bar and meals, and you’ve got yourself a great winter night out.

Booking details

Source: Hāpai Te Hauora

Hāpai Te Hauora says planning decisions are public health decisions, warning the Government’s decision to remove Mana Whakahono ā Rohe agreements from its replacement resource management legislation risks weakening Māori participation in decisions that shape health and wellbeing.

While Hāpai supports efforts to improve and streamline Aotearoa’s planning system, it says reform should strengthen, not replace, the partnerships that have taken years to build between iwi and local government.

Chief Executive Jacqui Harema says planning decisions extend far beyond development.

“Planning decisions shape much more than development. They influence housing, drinking water, the natural environment, transport, climate resilience and the places where our whānau live, work and play.

“These are all fundamental determinants of health. The decisions we make about our environment today will have lasting impacts on the health and wellbeing of future generations.”

Harema says Hāpai’s position is grounded in the understanding of oranga whenua, oranga tangata – the wellbeing of the land and environment is inseparable from the wellbeing of our people.

“For Māori, the wellbeing of our people is inseparable from the health of our whenua and wai. When decisions about te taiao are made without meaningful Māori partnership, the impacts can be far-reaching and felt for generations. Strong partnerships between iwi and local government recognise this connection and help ensure decisions are informed by mātauranga Māori, local knowledge and a shared commitment to the wellbeing of our environment and communities.”

Mana Whakahono ā Rohe agreements were established under the Resource Management Act to provide a formal framework for iwi and councils to work together on planning and resource management matters. Hāpai says the agreements recognised that meaningful relationships and genuine partnership lead to better outcomes for communities.

“Mana Whakahono ā Rohe agreements were established because other forms of engagement had repeatedly failed Māori communities. Replacing these agreements with a weaker participation framework risks taking us backwards.

“It sends yet another signal to Māori that this Government is willing to put commercial interests ahead of an already strained Te Tiriti relationship, at a time when genuine partnership is essential to addressing the complex environmental, housing and health challenges facing whānau.”

Harema says Hāpai is also concerned the proposal emerged only after submissions on the Planning Bill and Natural Environment Bill had closed.

“Had we known this change was being proposed, we would have addressed it directly in our submission.

“Decisions of this significance deserve transparent public consultation and a genuine opportunity for Māori to have their voices heard.”

Hāpai Te Hauora is calling on the Government to ensure any replacement framework preserves meaningful partnership between iwi and local government, and recognises that Māori must continue to have a genuine role in decisions that shape the health of our people and our environment.

Oranga Whenua, Oranga Tangata.

Source: New Zealand Nurses Organisation

At a time when health care is falling into a deeper crisis with emergency departments bursting at the seams, wards overflowing and workers overworked due to chronic understaffing, Aotearoa’s largest employer of nurses plans to hire less than two-thirds of the nursing graduate cohort over the next year.

Te Whatu Ora claims there will be a job available for most studying nurses and promised at least 1800 graduate jobs over the next 12 months, but according to a Kaitiaki magazine article this falls woefully short of what is required – by a whopping 40%.

The nursing publication calculated there would be nearly 3000 potential graduates over that period, meaning there would only be enough jobs for 60%.

NZNO National Student Unit co-leader Dawn Blyth says once again Te Whatu Ora has failed nursing graduates who represent New Zealand’s future nursing workforce.

“It is a huge blow to nursing graduates. To study for three years and hope for a job and then not get one.”

Dawn Blyth says with the non-Te Whatu Ora sectors, including Plunket, Hospice and general practice being poorly funded, graduates mainly pinned their hopes on Te Whatu Ora.

“Hospital jobs are highly sought after and often the reason students want to get into nursing.

“We have a health system in crisis and desperately needs more homegrown nurses.

“With thousands of Kiwis leaving for Australia in recent years, this shortsighted decision by Te Whatu Ora will see more graduate nurses, who are already considering this option, packing their bags and leaving.”

She said she knows of many potential graduates in her November cohort who are eyeing graduate programmes in Australia.

Source: Palestine Forum of New Zealand

The Palestine Forum of New Zealand unequivocally condemns the latest Israeli assault on the Al-Aqsa Mosque compound in occupied East Jerusalem, where thousands of illegal Israeli settlers, escorted by heavily armed occupation forces and led by the extremist Israeli Minister Itamar Ben-Gvir, stormed one of Islam's holiest sites in a deliberate act of provocation and religious aggression.

These actions are neither isolated incidents nor spontaneous events. They form part of a long-standing Israeli policy aimed at asserting control over occupied East Jerusalem, erasing Palestinian identity, and fundamentally altering the historic and legal status quo of Al-Aqsa Mosque. The repeated military raids, restrictions on Palestinian worshippers, and intimidation of Islamic religious authorities constitute grave violations of international law, international humanitarian law, and the fundamental right to freedom of religion.

The Palestine Forum of New Zealand is deeply alarmed by the continued silence and inaction of much of the international community. Every failure to hold Israel accountable emboldens further violations, fuels instability, and undermines the very international legal order that democratic nations claim to uphold.

New Zealand Must Not Remain Silent

New Zealand has long presented itself as a principled defender of international law and human rights. That commitment must extend to Palestine.

The New Zealand Government cannot continue to issue generic statements of concern while Israel systematically violates international law with complete impunity. Silence in the face of injustice is not neutrality, it is acquiescence.

We therefore call on the New Zealand Government to:

• Publicly and unequivocally condemn the Israeli government's escalating violations at Al-Aqsa Mosque.
• Reaffirm that East Jerusalem is occupied Palestinian territory and reject any attempt to alter its legal or historical status.
• Demand an immediate end to Israeli military incursions into the Al-Aqsa Mosque compound and the ongoing restrictions imposed on Palestinian worshippers.
• Support meaningful international accountability measures, including investigations into violations of international law and international humanitarian law.
• Work with like-minded nations to ensure the protection of Palestinian civilians, religious sites, and cultural heritage under occupation.

An Assault on International Law

The targeting of Al-Aqsa Mosque is not merely an attack on a place of worship. It is an attack on the religious freedoms of millions of Palestinians, on the cultural heritage of humanity, and on the international legal framework governing occupied territory.

The repeated incursions into Al-Aqsa Mosque, the denial of access to Palestinian worshippers, and attempts to impose a new reality by force directly challenge decades of international consensus and numerous United Nations resolutions.

If the international community continues to tolerate these violations without consequence, it sends a dangerous message that international law is optional and that powerful states may act with impunity.

A Call for Principle, Justice and Accountability

The Palestine Forum of New Zealand stands in solidarity with the Palestinian people in Jerusalem and throughout occupied Palestine.

We call upon political leaders, faith communities, civil society organisations, and all people of conscience across New Zealand to speak out against these grave violations and to demand accountability.

The protection of Al-Aqsa Mosque is not solely a Palestinian or Muslim issue. It is a universal issue of justice, human dignity, religious freedom, and respect for international law.

New Zealand has a proud history of standing on the right side of history. The time has come to do so again.