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 2022. MAS remains on track to achieve the following near-term reduction targets set last year, which used 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%
Carbon Footprint of MAS’ Corporate Activities
MAS will continue to measure and report our corporate emissions using the Greenhouse Gas ("GHG") Protocol.
Relative to the FY2018 baseline, MAS' FY2022 total emissions were 23% lower, given the substantial decline in business air travel due to the COVID-19 pandemic and lower currency issuance. With the post-pandemic resumption of air travel, MAS implemented a carbon budget framework to manage its emissions from business air travel and meet its target. MAS also remains on track to reach its targets for outsourced currency operations emissions, through initiatives to encourage e-payments and Fit notes for festive gifting.
Slightly higher Scope 2 emissions were recorded in FY2022 relative to FY2018 due to the ageing central air conditioning system in Currency House which consumed more energy. A renewal plan is in place, with the new system expected to be commissioned in Q4 2024, which should reduce Scope 2 emissions thereafter.
MAS' CARBON PROFILE COMPRISING SCOPE 1, SCOPE 2 AND SCOPE 3 EMISSIONS
| Tonnes of CO2e (% of total) |
FY2018 | FY2019 | FY2020 | FY2021 | FY2022 |
| Direct Carbon Emissions (Scope 1) |
|||||
| Fire Extinguishing Agent |
86 (<1%) | 89 (<1%) | 89 (1%) | 86 (<1%) | 86 (<1%) |
| MAS vehicles | 8 (<1%) | 8 (<1%) | 3 (<1%) | 1 (<1%) | 4 (<1%) |
| Other fuel | 4 (<1%) | 2 (<1%) | 2 (<1%) | 0.7 (<1%) | 1 (<1%) |
| Sub-total CO2e emissions (Scope 1) |
98 (1%) | 99 (1%) | 94 (1%) | 88 (1%) | 91 (1%) |
| Indirect Carbon Emissions (Scope 2) | |||||
| Electricity (including MAS' overseas offices) | 3,884 (24%) | 3,848 (25%) | 3,696 (34%) | 3,849 (38%) |
3,965 (32%) |
| Business air travel | 4,417 (27%) | 4,024 (26%) | 296 (3%) | 342 (3%) | 2,209 (18%) |
| Business travel - land |
14 (<1%) | 15 (<1%) | 7 (<1%) | 5 (<1%) | 9 (<1%) |
| Leased office space (MAS Building) |
370 (2%) | 283 (2%) | 132 (1%) | 161 (2%) | 190 (2%) |
| Waste incineration |
302 (2%) | 246 (2%) | 165 (1%) | 103 (1%) | 130 (1%) |
| Outsourced Currency operations |
7,216 (44%) | 6,776 (44%) | 6,444 (60%) | 5,459 (55%) | 5,941 (47%) |
| Sub-total CO2 emissions (Scope 3) |
12,319 (75%) | 11,344 (74%) | 7,044 (65%) | 6,070 (61%) | 8,479 (68%) |
| Total Carbon Emissions | 16,301 | 15,291 | 10,834 | 10,007 | 12,535 |
MAS' Electricity, Waste and Water Usage Profile
MAS reports its energy utilisation, water efficiency and waste disposal, in accordance with the GreenGov.SG metrics and targets.
Metrics:
- 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
Targets:
- 10% reduction in EUI by 2030, compared to average of 2018-2020 levels.
- 10% reduction in WEI by 2030, compared to average of 2018-2020 levels.
- 30% reduction in WDI by 2030, compared to 2022 level.
EUI
- The average of FY2018-2020 levels is 125 kWh/m2.
- For FY2022, the EUI is 126 kWh/m2.
WEI
- The average of FY2018-2020 levels is 88 litres/person/day.
- For FY2022, the WEI is 83.6 litres/person/day.
WDI
- The waste disposal for FY2022 is 134,400 kg (Subsequent reporting will be referenced to FY2022 as it has been established as the baseline year.)
MAS' Progress in Developing a Culture of Sustainability
|
Initiatives |
Year Implemented |
Outcomes Achieved |
|
Reduce Waste |
|
|
| Introduced umbrella dryers |
2022 |
Reduced the use of > 2000 umbrella plastic sleeves per year |
|
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 |
|
Raised awareness and encouraged staff to go digital and print less |
2016 |
Reduced paper usage by 17% or 2.1 tonnes (equivalent of 52 trees) year-on-year, as of FY2022 |
|
Reuse |
|
|
|
Provided staff with reusable utensils and lunchbox to pack meals alongside a pledge to stop using single-use items |
2020 |
48% of MAS staff have pledged and signed up to bring-your-own (BYO) |
| 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 |
|
Recycle |
|
|
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Installed textiles and apparel recycling bin and organised workshop during MAS’ environmental sustainability week to create awareness of how staff can contribute their pre-loved apparel for recycling |
2022 |
Collected > 2.2 tonnes of pre-loved textiles and apparel for recycling or upcycling |