Overview

As an international finance centre, Singapore can play an important role in catalysing Asia’s transition to a sustainable future. Environmental and climate considerations are integrated across MAS’ core functions:

  • As a central bank and financial regulator, MAS works with financial institutions (FIs) to strengthen Singapore’s financial sector resilience to environmental risks.
  • In promoting the growth and development of Singapore’s financial centre, MAS works with FIs to develop a vibrant sustainable finance ecosystem to support Asia’s transition to a low-carbon future. 
  • As the guardian of Singapore’s official foreign reserves, MAS integrates climate risks and opportunities into its investment framework.
  • As an organisation, MAS seeks to reduce its own carbon and environmental footprint to support Singapore’s broader climate ambitions and commitments.

MAS also actively contributes to global efforts on sustainable finance through participation in, and leadership of, international committees, multilateral and regional platforms, and bilateral cooperation. MAS works closely with global counterparts to: (i) build alignment and consistency in supervisory and regulatory approaches, and advance global standards; and (ii) strengthen collaboration in green and transition finance solutions to deepen markets and capabilities development. 

To enhance strategy development and coordination across MAS’ sustainability initiatives, MAS expanded the Sustainability Group, led by Ms Gillian Tan as Chief Sustainability Officer from 17 October 2022, in addition to her current role as Assistant Managing Director (Development & International). 

MAS also established the Sustainable Finance Advisory Panel (SFAP) to guide MAS’ strategies and initiatives to build a credible and vibrant sustainable finance ecosystem. The SFAP comprises senior sustainability experts from FIs, academia, and other stakeholders from across the world. 

The next few sections highlight the key sustainability initiatives developed by MAS over the past year. More details of MAS’ sustainability efforts can be found in MAS’ Sustainability Report 2022/2023.