Metrics and Targets
Environmental sustainability targets
MAS’ near-term targets for FY2025 and FY2030
MAS’ near-term targets for Scope 1, Scope 2 and Scope 3 emissions reduction are set based on the Science Based Targets initiative (SBTi) methodology, which has been independently validated (294.6 KB) by KPMG Services Pte Ltd. In particular, MAS’ Scope 1, Scope 2 and Scope 3 (business air travel) near-term targets are aligned with the well below 2°C science-based pathway, and Scope 3 (outsourced currency operations) near-term targets are aligned with the 2°C science-based pathway. The following targets use FY2018 (ending March 2019) as the base year.
- Scope 1, Scope 2 and Scope 3 (business air travel) emissions:
- FY2025 target: reduce by 17.5%
- FY2030 target: reduce by 30%
- Scope 3 (outsourced currency operations) emissions:
- FY2025 target: reduce by 10%
- FY2030 target: reduce by 20%
MAS is committed to reducing Scope 3 emissions as it forms the bulk of our carbon profile, despite the greater challenges in reducing such emissions. MAS has set higher emissions reduction targets for Scope 3 (business air travel) by aligning these targets with the well below 2°C science-based pathway as this is an area where MAS is able to do more. In contrast, it is challenging to make significant reductions in carbon emissions of MAS’ outsourced currency operations given MAS’ mandate to meet public demand for currency. Nevertheless, MAS has set near-term emissions reduction targets for our outsourced currency operations that are aligned with the 2°C science-based pathway. MAS will continue to monitor our ongoing efforts and explore additional measures to further reduce our emissions.
GreenGov.SG’s targets by 2030
- Energy Utilisation Index: improve by 10% from 2018-2020 baseline
- Water Efficiency Index: improve by 10% from 2018-2020 baseline
- Waste Disposal Index: improve by 30% from 2022 baseline
Carbon footprint of MAS’ corporate activities
MAS will continue to measure and report our corporate emissions using the Greenhouse Gas (GHG) Protocol. Overall, our FY2021 emissions declined 39% from FY2018 baseline, given the substantial decline in business air travel due to the COVID-19 pandemic. This is an aberration.
MAS’s carbon profile comprising Scope 1, Scope 2 and Scope 3 emissions
| FY2018 Tonnes of CO2e (% of total) | FY2019 Tonnes of CO2e(% of total) | FY2020 Tonnes of CO2e(% of total) | FY2021 Tonnes of CO2e(% of total) | |
| Direct Carbon Emissions (Scope 1) | ||||
|
Fire Extinguishing Agent |
86 (<1%) | 89 (<1%) | 89 (1%) | 86 (<1%) |
|
MAS-owned vehicles |
8 (<1%) | 8 (<1%) | 3 (<1%) | 1(<1%) |
|
Other fuel |
4 (<1%) | 2 (<1%) | 2 (<1%) | 0.7(<1%) |
|
Sub-total CO2e emissions (Scope 1) |
98 (1%) | 99 (1%) | 94 (1%) | 88(1%) |
| Indirect Carbon Emissions (Scope 2) | ||||
|
Electricity(including MAS’ overseas offices) |
3,884 (24%) |
3,848 (25%) |
3,696 (34%) | 3,849 (38%) |
| Indirect Carbon Emissions (Scope 3) | ||||
|
Business air travel |
4,417 (27%) | 4,024 (26%) |
296 (3%) |
324 (3%) |
|
Business travel - Land |
14(<1%) | 15 (<1%) |
7 (<1%) | 5 (<1%) |
|
Leased office space(MAS Building) |
370 (2%) | 283 (2%) | 132 (1%) | 161(2%) |
|
Waste incineration |
302 (2%) |
246 (2%) |
165 (1%) |
103 (1%) |
|
Outsourced Currency operations |
7,216 (44%) |
6,776 (44%) | 6,444 (60%) | 5,459 (55%) |
|
Sub-total CO2 emissions (Scope 3) |
12,319 (75%) |
11,344 (74%) |
7,044 (65%) |
6,070 (61%) |
| Total Carbon Emissions |
16,301 |
15,291 |
10,834 |
10,007 |
Electricity, waste and water usage profile
MAS will introduce new metrics to report our energy utilisation, water efficiency and waste disposal, in accordance with the GreenGov.SG targets. The metrics are computed as follows:
- Energy Utilisation Index (EUI): annual energy consumption divided by the total Gross Floor Area
- Water Efficiency Index (WEI): annual water consumption per day divided by the total number of occupants including visitors
- Waste Disposal Index (WDI): total amount of waste disposed per day divided by the total number of occupants including visitors
Only EUI and WEI are reported in this year’s Sustainability Report. The WDI uses 2022 as the base year, so this metric will only be reported in our 2023 report.
| 2021 | |
| Energy Utilisation Index | 118 kWh/m2 |
| Water Efficiency Index | 94 litres/person/day |
Progress in developing a culture of sustainability
MAS recognises the importance of building a culture of sustainability and encourages staff to actively adopt environmentally sustainable practices through the three ‘A’s of Awareness, Advocacy and Action. The outcomes achieved are highlighted in the table.
| Initiatives | Year Implemented | Outcomes Achieved |
| Minimise Plastic Waste | ||
|
Removed the provision of single-used bottled water in meeting rooms at MAS’ premises |
2018 | Reduced the use of >3,000 plastic bottles per year |
|
Implemented clustered placement of office litter bins |
2017 | Reduced the use of >16,000 plastic liners per year |
| Reduce Paper Usage |
||
|
Introduced “Bring-Your-Cup” initiative and ceased dispensing paper cups when staff use beverage vending machines |
2017 | Reduced the use of >76,000 paper cups per year |
|
Raised awareness and encouraged staff to go digital and print less |
2016 | Reduced paper usage by 18% or 2.3 tonnes (equivalent of 54 trees) year-on-year, as of FY2021 |
| Project Bring-Your-Own (BYO) | ||
|
MAS provided staff with reusable utensils and lunchbox to pack meals alongside a pledge to stop using single-use items |
2020 |
47% of MAS staff have pledged and signed up for Project BYO |