On 9 June 2021, the Monetary Authority of Singapore (“MAS”) released its inaugural Sustainability Report 2020/2021 (“Report”). The Report sets out MAS’ strategy on climate resilience and environmental sustainability to strengthen the resilience of the financial sector to environmental risks, develop a vibrant green finance ecosystem, build a climate-resilient reserves portfolio, and incorporate sustainable practices in MAS.
In a speech at a media conference on the launch of the Report, Managing Director of MAS, Ravi Menon, highlighted some of MAS’ initiatives aimed at furthering climate resilience and environmental sustainability. These include:
- environmental risk management in financial institutions;
- mandatory climate-related financial disclosures by financial institutions and listed entities; and
- green finance solutions, including a carbon market in Singapore and Green FinTech.
Please click here to read our article highlighting some of the key developments and MAS strategies outlined in the speech and Report.
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