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.
- Information Paper on Environmental Risk Management (Banks) (677.2 KB)
- Information Paper on Environmental Risk Management (Asset Managers) (634.3 KB)
- Information Paper on Environmental Risk Management (Insurers) (539.7 KB)
- Guidelines on Environmental Risk Management for Banks
- Guidelines on Environmental Risk Management for Asset Managers
- Guidelines on Environmental Risk Management for Insurers
- Consultation Paper and Response on Proposed Guidelines on Environmental Risk Management for Banks
- Consultation Paper and Response on Proposed Guidelines on Environmental Risk Management for Asset Managers
- Consultation Paper and Response on Proposed Guidelines on Environmental Risk Management for Insurers
Monographs/Information PapersPublished Date: 17 April 2023
Corporate Finance Thematic Inspection - Good Practices and Key Findings
This information paper follows from MAS’ thematic inspection of eight Issue Managers (“IMs”), which focused on the IMs’ controls regarding the due diligence process for Initial Public Offerings, as well as placement activities. It sets out the good practices and weaknesses observed, and MAS’ expectations for IMs arising from the inspections.
Monographs/Information PapersPublished Date: 31 October 2022
Project Orchid Whitepaper
Project Orchid is a multi-year, multi-phase exploratory project examining the various design and technical aspects pertinent to a retail CBDC system for Singapore, from its functionalities to its interaction with existing payment infrastructures. Though MAS has assessed that there is no urgent need for a retail CBDC in...
Monographs/Information PapersPublished Date: 07 October 2022
National Strategy for Countering the Financing of Terrorism (CFT)
Taking into account the findings of the Terrorism Financing National Risk Assessment (TF NRA) 2020 , Singapore formulated our National Strategy for Countering the Financing of Terrorism (CFT). The National CFT Strategy forms the blueprint that outlines Singapore’s national approach to address our TF risks and serves as...