MAS Guidelines on Environmental Risk Management – Transition Planning

5 March 2026

MAS issued three Guidelines on Environmental Risk Management – Transition Planning (TPG) which separately set out supervisory expectations for banks, insurers and asset managers to manage the transition and physical risks they and their portfolios face from climate change. Financial Institutions (FIs) are expected to establish a transition planning process in a risk proportionate manner, taking into consideration factors such as the risk profile of their business models and portfolios and the local circumstances of their business operations.