Malaysia Climate Infrastructure Fund (MCIF), a Syariah-compliant climate infrastructure fund anchored by Retirement Fund Inc (KWAP), has won Innovation of the Year (Funds and Portfolio) – Asia Pacific at the 2026 Environmental Finance Sustainable Investment Awards. The private equity fund focuses on climate mitigation and adaptation infrastructure across Malaysia, emerging Asia and Latin America.
Managed by CFM Argos, a joint venture between Climate Fund Managers and Malaysian investment manager Argos Partners, MCIF closed its first RM500 million in March 2025. It has since committed to three climate infrastructure investments, including two water infrastructure platforms in Southeast Asia and a waste-to-biogas platform in India. The fund invests across renewable energy, water and wastewater, low-carbon transport and digital infrastructure.
The award recognises MCIF’s multi-sector, Syariah-compliant investment model, which aims to broaden access to climate infrastructure financing by attracting both conventional and Islamic investors. Over its lifetime, the fund aims to avoid approximately 3.9 million tonnes of carbon dioxide equivalent emissions and improve access to climate-resilient infrastructure for up to one million people. The recognition also highlights Malaysia’s growing role at the intersection of Islamic finance, sustainable investment and climate infrastructure financing.