MAS releases inaugural Sustainability Report to chart strategy on climate resilience and environmental sustainability

25 June 2021

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.