Information Papers on Environmental Risk Management
These information papers are based on a thematic review conducted by MAS in 2021 on selected banks, insurers and asset managers (collectively financial institutions or FIs), and highlight emerging and/or good practices by FIs and identify areas where further work is needed.
MAS recognises that FIs are at varying stages of putting in place the relevant risk management processes. FIs should refer to the industry practices shared in the paper, and assess the applicability of the practices to their efforts to bolster their resilience to environmental risk in a way that is commensurate to their size, nature of activities and risk profile. Particular attention should be paid to areas where further work is required, as highlighted in the papers.
FIs should also pay attention to the impact of their efforts on business strategies and risks, as well as on the financial system and the broader transition to a sustainable economy. For example, indiscriminate credit withdrawal by banks from sectors deemed to be of higher climate-related risks would impact companies with credible transition plans, increasing the risk of stranded assets and a disorderly transition.
FIs must push ahead to set tangible targets to address environmental risk with urgency and ambition. MAS will continue to partner FIs to accelerate their efforts in translating their environmental risk strategy and risk appetite into concrete milestones and tangible targets for action. Helping stakeholders understand potential business and risk implications through relevant disclosures and education should also be a key area of focus.
Orchid Blueprint sets out the technology and infrastructure building blocks that would be required to facilitate digital money transactions in the future. The blueprint incorporates learnings from the Project Orchid industry trials and industry engagements.
This whitepaper was jointly developed in collaboration with the Financial Industry, FinTechs and Industry Groups. It proposes a common model for linking digital asset networks implemented on diverse ledger technologies and describes common archetypes for the issuance, distribution and transfer of digital assets and...
This report presents proposals from a comprehensive feasibility study on the potential for the introduction of SGQR+ as Singapore’s future interoperable payments infrastructure. The study was conducted by the EY organisation, and Singapore’s key payment network operator, Banking Computer Services (BCS), with the support of MAS. The study’s key areas of focus were to determine the readiness of merchants and payment providers to adopt interoperable QR payments, and the benefits of enabling seamless and secure cross-platform QR payment transactions.