Cagamas Berhad (Cagamas), in collaboration with the Asian Development Bank (ADB) and Ernst & Young (EY), recently organised a Stakeholder Consultation Workshop (Workshop) on 2 December 2024 in Kuala Lumpur which is part of Cagamas’ initiative to develop a universal green housing standards, a critical step towards facilitating the growth of Green Affordable Housing and Green Mortgages in Malaysia.
The one-day workshop gathered over 60 participants from a diverse group of stakeholders within the housing ecosystem, including representatives from key financial institutions, regulatory bodies, government agencies, developers, and green building organisations, to develop approaches for advancing green and affordable housing (GAH) strategies.
Based on a seminal study conducted by EY, the Workshop aimed at validating the study outcomes towards addressing challenges in scaling up green residential mortgages which includes harmonising and establishing minimum standards for green and affordable housing. It provided a robust platform for discussion on the key challenges facing financial institutions, regulatory bodies, government agencies, developers and green building organisations.
At the same time, potential solutions were discussed that included the need for mandatory requirements for green housing, greater clarity on green certification requirements, parameters of eligibility criteria for mortgage financing, and addressing perception of higher cost relating to green housing. The Workshop also highlighted the roles of public and private sector including banks and insurers, and authorities in supporting the ecosystem with necessary infrastructure.
The outcome from this workshop reaffirmed the benefits of establishing clear and standardised green affordable housing standards which is aligned towards Cagamas’ efforts to advance our sustainability agenda and promote the transition to net zero across the housing ecosystem.
Yusniza Wan Yahya, the Chief Strategy Officer of Cagamas, and Jacobo De Leon Dovale, the Senior Investment Specialist of ADB, gave opening remarks while Arina Kok, Partner of EY Malaysia, moderated the workshop.