|Led by: Persatuan Penyelidik Rimba Malaysia
This project aims to help the Terengganu State government restore and conserve its forests by capitalising on the growing interest from Malaysia’s private sector in initiatives that reduce climate and environmental footprints. It is providing technical assistance and training to the state government of Terengganu and worked with the State’s Green Financing Taskforce to develop a framework that allows private sector funding to be channelled into forest protection and conservation and nature-based solutions projects. The area of interest is the Kenyir catchment, a 200-000 ha forest area of high conservation value. Throughout the project, Rimba has organised workshops with the taskforce to understand opportunities, identify gaps and design pathways that can enable sustainable financing into nature based solutions projects in the state. Rimba has also reached out to potential funding partners to better understand their expectations, bridging the gap between the stewards of the land and financing requirements.
Through the initiative, Terengganu aims to run a pilot in the Kenyir catchment as part of a wider strategy to enhance their forest protection, climate and green financing ambitions. The project will continue working with the green financing task force to institutionalise green financing frameworks with the aim of protecting forests in 2022 and beyond.
“From the project’s training and workshops, beneficiaries have gained an increased understanding of key concepts in the emerging trends of green financing and climate financing. What was encouraging was the application of new knowledge and concepts to review existing frameworks, key insights into solutions, and a way forward.”
- Sri Rao, Director, Nature Based Solutions
“The project has identified the right potential partners to support the state’s ambition to protect forests with sustainable financing. The green financing task force platform can turn concept into implementation. With UK PACT support, the task force has a strong foundation to make changes at both project and policy level”
- Tajang Jinggut, Principal Investigator, Rimba