15 November 2022

The third quarter of 2022 saw initiatives to further develop Singapore as a leading financial hub and steps taken to reinforce Singapore’s commitment to climate action through strengthening sustainability disclosures, issuing Singapore’s inaugural sovereign green bond, and promoting green technology through global partnerships.

We are pleased to provide an infographic of these environmental, social and governance (“ESG”) and public policy developments and their potential commercial impact in the following areas.

ESG reporting and FinTech

  • Singapore Exchange (“SGX”) and Monetary Authority of Singapore (“MAS”) launched SGX ESGenome, a common disclosure utility for companies to report ESG data in a structured and efficient manner
  • Collaboration between MAS and Google Cloud to launch Point Carbon Zero Programme to catalyse climate FinTech solutions

Financial services

  • MAS launched the Financial Services Industry Transformation Map 2025 comprising five key growth strategies to further develop Singapore as a leading international financial centre in Asia
  • MAS issued the inaugural sovereign green bond (Aug-72 bond) with a tenor of 50 years and issuance size of S$2.4 billion

International cooperation and digital transformation

  • Maritime and Port Authority of Singapore and Port of Rotterdam signed a Memorandum of Understanding to establish low and zero carbon shipping by using alternative energy sources such as biofuels, synthetic methane and hydrogen

To view the Q3 2022 Review, please click here.