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The financial sector plays such a critical role in the net-zero transition. We need more funding, not just for new green activities but also for transition activities. This means channelling financing to decarbonise power generation, and other aspects of our economy – be it buildings or transport. That is the only way the world can achieve net zero by 2050.”
- Mr Lawrence Wong, former Deputy Prime Minister and Minister for Finance, and former Deputy Chairman of the Monetary Authority of Singapore
Official launch of the Sustainable and Green Finance Institute (SGFIN)
Transition Credits
High-integrity transition credits can serve as a complementary financing mechanism to accelerate and scale the early retirement of coal-fired power plants (CFPPs).
Taxonomy
Taxonomy seeks to provide financial institutions with guidance on how to identify and classify activities that can be considered green or transitioning towards green.
Regulatory and Supervisory Approach
The financial sector is exposed to environmental and climate-related risks through its financing, insurance and investment activities. MAS is committed to play a leading role to bolster the financial sector’s resilience to environmental risks.
Sustainable Financing Solutions
To support the growth of the green economy in Singapore and Asia, we are developing sustainable solutions with various stakeholders in the financial sector and our international counterparts.
Sustainable Talent Ecosystem
To deepen Singapore’s sustainable finance capabilities, MAS is developing a strong sustainable finance research and talent development ecosystem.
Green FinTech
Technology and Sustainability are two key driving forces shaping the future of financial services. Understand more about the various initiatives for technology solutions and projects that accelerate the growth of Fintech and Green Finance.
International and Regional Collaborations
To shape the development of sustainable finance in Singapore and the region, MAS is working closely with industry, international and regional counterparts.
Investment Portfolio
MAS, as Singapore’s central bank, manages the Official Foreign Reserves (OFR). We are integrating climate change considerations into our investment framework to enhance portfolio resilience and support the transition to a low carbon future.
MAS' Operations
MAS is reducing its carbon and environmental footprint to support Singapore’s climate ambitions and commitments.
What's New
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Australia and Singapore Collaborate to Support Sustainable Infrastructure and Decarbonisation in Southeast Asia
The Australian Government has approved a US$50 million investment into the Green Investments partnership (GIP) under Singapore’s Financing Asia’s Transition Partnership (FAST-P) initiative. The investment will support clean energy transition and sustainable infrastructure development across Southeast Asia.
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Singapore Commits US$500 Million in Matching Concessional Funding to Support Decarbonisation in Asia
At the 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change, Ms Grace Fu, Minister for Sustainability and the Environment, announced that the Singapore Government has committed up to US$500 million in concessional funding to support the Financing Asia’s Transition Partnership (FAST-P) launched by the Monetary Authority of Singapore (MAS) last year.
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BlackRock and the Monetary Authority of Singapore spearhead collaboration to unlock investment opportunities in decarbonisation in Asia
BlackRock, MAS, IFC, MUFG, NEXI, and AIA have signed an SOI at the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change to explore ways to work together on a blended finance debt initiative for global investors seeking opportunities to finance corporates’ decarbonisation projects at scale in Asia with a focus on Southeast Asia.
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Singapore FinTech Festival 2024 Kicks Off With AI and Quantum Technology in Focus
AI and quantum technology will take centre stage at the Singapore FinTech Festival (SFF) 2024, underscoring their transformative potential for the financial sector. SFF 2024 will also highlight global and regional efforts on decarbonisation, scaling up the use of digital assets, achieving cross-border payment efficiency and advancing financial inclusion.
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"How Private Markets Can Underwrite Asia's Growth Story" - Keynote Speech by Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, and Chairman of the Monetary Authority of Singapore, at the SuperReturn Asia Conference on 25 September 2024
At the SuperReturn Asia Conference 2024, Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, and Chairman, MAS spoke about how private markets can participate in and contribute to Asia's growth by supporting local firms, enabling green transition, and boosting the digital economy.