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Regulatory Round-up: Malaysia’s green stress tests, ISSB’s new appointments

By Victor Smart

The Bank Negara Malaysia, the country’s central bank, has released a discussion paper outlining a framework for a climate risk stress testing exercise to take place in 2024. The paper is currently open to public consultation.

One of the first two appointee to the International Sustainability Standards Board has publicly acknowledged that the ISSB is needed because the existing cluttered global sustainability regulatory landscape is dysfunctional. On taking up the role, Elizabeth Seeger, who joins from global investment firm KKR, said: “The ISSB represents a unique opportunity to end the current confusion resulting from competing definitions, frameworks and metrics and to give investors the information they need to understand sustainability risks and opportunities”. Tae-Young Paik, currently professor of accounting at Sungkyunkwan University in Seoul, also joins the Board.

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