Taxonomy seeks to provide financial institutions with guidance on how to identify and classify activities that can be considered green or transitioning towards green.
At the launch of the Financial Services Industry Transformation Map 2025, Mr Lawrence Wong, Deputy Prime Minister and Minister for Finance, and Deputy Chairman, MAS shared the plans, strategies and targets for the next five years for our financial centre to continue to stay relevant and competitive.
The Financial Services Industry Transformation Map 2025 lays out the growth strategies to further develop Singapore as a leading international financial centre in Asia – to connect global markets, support Asia’s development, and serve Singapore’s economy.
MAS and SGX Group jointly launched ESGenome, a digital disclosure portal for companies to report ESG data in a structured and efficient manner, and for investors to access such data in a consistent and comparable format. ESGenome is a joint initiative by the MAS and SGX Group under Project Greenprint, to develop a common disclosure utility that will facilitate sustainability reporting for SGX-listed companies.
At the Economic Society of Singapore Annual Dinner 2022, Mr Ravi Menon, Managing Director, MAS, spoke about five transformative changes to get to net zero - a price on carbon; a shift to cleaner energy; a greening of the economy; a pivot to transition finance; and a sustainable lifestyle.
MAS announced that Singapore’s S$2.4 billion inaugural sovereign green bond was priced at 3.04%. S$2.35 billion of the 50-year bond was placed with institutional and accredited investors. The remaining S$50 million of the bond will be offered to individual investors, who may submit their applications from 9:00am on 5 August to 12:00 noon on 10 August 2022.