Closing remarks by Ms Josephine Tan, General Manager of Penang Green Council for the virtual Penang Green Finance Conference on 4th December 2021.

Good afternoon, ladies and gentlemen!
Thank you for staying with us throughout the conference today. Our virtual conference has come to an end now. I hope that everyone has a clearer idea by now and the visualisation on how Green Finance can help us in making sure that our community and economy grows towards a more sustainable direction without exploiting the future of our next generations.

Green finance is considered as the finance sector’s strategic approach to meeting the challenges of climate change and the transition to a low-carbon world. It consists of any financial initiative, process, product or service that is either designed to
protect the natural environment or to manage how the environment impacts finance and investment.

As the concept of “green finance” is relatively new to Penang, it is crucial for the State Government to create a platform where public and private stakeholders can learn from international and local experts through the sharing of information and best practices. It is also important for the us to create an environment that is conducive to promote green investments.

This is the decade where we can make the changes and slow down the climate change impacts as much as we can. We understand that green finance will play an important role not only now, but also for the next few decades or even centuries for the whole world. We need to start by taking baby steps by enhancing the existing green businesses that are striving to develop and grow.

Therefore, the Penang State Government has identified programmes and projects that are needed to make Penang’s growth more sustainable and more resilient. To achieve this, Penang needs a wider range of financing mechanisms that allow public
and private stakeholders to carry out green projects and innovation.

In conjunction with that, Penang Green Council will be working closely with the State Government in line with Penang2030’ vision to creating more opportunities and provide assistance for businesses and investors who wish to explore green sector’s
possibilities as well as collaboration among various stakeholders. We shall wait no more because the way we consume in this modern world will soon leave the planet beyond repair to our children.

Before I end my session, I would like to thank YAB. Chow Kon Yeow and our fellow speakers for their time and sharing in this virtual conference. I hereby also encourage everyone to work hand in hand to build a stronger, eco-friendlier and green oriented business connection in Penang. It is argued the economy and society are unable to exist without the environment and therefore are entirely dependent on environmental conditions. So, let’s put our focus on the use of investment to either
benefit the environment or to reduce harm on our ecology before it is too late. Remember, environment should always come first as it is the core and main support for every living habitant on Earth. Everyone has the responsibilities and roles to play

As a part of the nature. With this, I wish everyone a good weekend. Stay safe and don’t forget to follow our social media for more updates on upcoming events and projects.

Thank you!