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 have 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 in 2022, 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.
Our FY2023 total emissions were 10.7% lower than the FY2018 baseline. MAS’ carbon budget framework has helped to manage our emissions from business air travel and we are on track to achieving our targets. We also remain on track to meeting our targets for outsourced currency operations emissions, through our on-going initiatives such as encouraging e-payments and the use of Fit notes for festive gifting.
Higher Scope 2 emissions were recorded in FY2023 relative to FY2018 due to higher electricity consumption in our data centre to meet business needs, as well as increasing AI and work transformation applications. Our higher electricity consumption is also due to our ageing central air conditioning system in Currency House that consumed more energy and additional office space required for our work. For Currency House, we are retrofitting our chilled water plant to improve energy efficiency. We are also working to implement additional measures to meet our Scope 2 reduction target by FY2025.
MAS' CARBON PROFILE COMPRISING SCOPE 1, SCOPE 2, AND SCOPE 3 EMISSIONS
| Tonnes of CO2e (% of total) |
FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 |
| Direct Carbon Emissions (Scope 1) |
||||||
| Fire Extinguishing Agent |
86 (<1%) |
89 (<1%) |
89 (1%) |
86 (<1%) |
86 (<1%) |
86 (<1%) |
| MAS vehicles | 8 (<1%) |
8 (<1%) |
3 (<1%) |
1 (<1%) |
4 (<1%) |
3 (<1%) |
| Other fuel | 4 (<1%) |
2 (<1%) |
2 (<1%) |
0.7 (<1%) |
1 (<1%) |
1 (<1%) |
| Sub-total CO2e emissions (Scope 1) |
98 (1%) |
99 (1%) |
94 (1%) |
88 (1%) |
91 (1%) |
90 (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%) |
4,293 (30%) |
| Business air travel | 4,417 (27%) |
4,024 (26%) |
296 (3%) |
342 (3%) |
2,209 (18%) |
3,711 (26%) |
| Business travel - Land |
14 (<1%) |
15 (<1%) |
7 (<1%) |
5 (<1%) |
9 (<1%) |
13 (<1%) |
| Leased office space(MAS Building) |
370 (2%) |
283 (2%) |
132 (1%) |
161 (2%) |
190 (2%) |
201 (1%) |
| Waste incineration |
302 (2%) |
246 (2%) |
165 (1%) |
103 (1%) |
126 (1%) |
145 (1%) |
| Outsourced Currency operations |
7,216 (44%) |
6,776 (44%) |
6,444 (60%) |
5,459 (55%) |
5,941 (47%) |
5,874 (41%) |
| Sub-total CO2 emissions (Scope 3) |
12,319 (75%) |
11,344 (74%) |
7,044 (65%) |
6,070 (61%) |
8,479 (68%) |
9,944 (69%) |
| Total Carbon Emissions | 16,301 | 15,291 | 10,834 | 10,007 | 12,531 | 14,327 |
MAS' Electricity, Waste and Water Usage Profile
MAS reports our energy utilisation, water efficiency and waste disposal, in accordance with GreenGov.SG's 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
MAS is working towards GreenGov.SG’s reduction targets as follows:
- 10% reduction in EUI by 2030, compared to average of FY2018-2020 levels (baseline).
- 10% reduction in WEI by 2030, compared to average of FY2018-2020 levels (baseline).
- 30% reduction in WDI by 2030, compared to FY2022 level (baseline).
The average of FY2018 – FY2020 levels was adopted as the baseline for EUI and WEI to better reflect the hybrid working arrangements post-pandemic. For WDI, the baseline is set as FY2022 across the public sector.
Electricity
MAS’ electricity use (for MAS Building and Currency House) in FY2023 (excluding overseas offices) was 10,265,377 kWh, a 11.8% increase from our baseline.
Energy Utilisation Index (EUI)
Our baseline EUI was 144.3 kWh/m2 for MAS Building and Currency House. In FY2023, our EUI was 155.1 kWh/m2, a 7.5% increase from our baseline. The contributing factors are explained earlier under “Carbon footprint of MAS’ corporate activities”.
| Baseline | FY2021 | FY2022 | FY2023 | |
| Electricity (kWh) | 9,179,097.5 | 9,356,081.0 | 9,748,811.5 | 10,265,377.0 |
| EUI (kWh/m2) | 144.3 | 143.1 | 148.6 | 155.1 |
Water
In FY2023, MAS Building and Currency House used 37,741 m3 of water, a 17.3% decrease from our baseline. The decrease was due to measures such as deferred washing of building façade and installing Water Efficiency Labelling (WELS) rated sanitary fittings.
Water Efficiency Index (WEI)
Our baseline WEI was 84.5 litres/person/day for MAS Building and Currency House. In FY2023, our WEI was 87.4 litres/person/day, a 3.4% increase from our baseline. The marginal increase is due to lower building occupancy with our work from home arrangement, as compared to our baseline in FY2018-20.
| Baseline | FY2021 | FY2022 | FY2023 | |
| Water (cubic metre) | 45,652.5 | 30,111.1 | 38,205.3 | 37,741.0 |
| WEI (litres/person/day) | 84.5 | 109.3 | 108.5 | 87.4 |
Waste Disposal
In FY 2023, MAS Building and Currency House disposed a total of 139,404 kg of general waste, a 5.9% increase from our baseline, mainly due to an increase in food waste. The measure of our general waste disposed was obtained from SembWaste Pte Ltd.
Waste Disposal Index (WDI)
Our baseline WDI was 0.37 kg/person/day for MAS Building and Currency House. In FY2023, our WDI was 0.32 kg/person/day, a 13.7% decrease from our baseline. The WDI has decreased because the increase in waste disposed was offset by the increase in building occupancy.
| Baseline | FY2023 | |
| Waste (kg) | 131,676 | 139,404 |
| WDI (kg/person/day) | 0.37 | 0.32 |
MAS' Progress in Developing a Culture of Sustainability
|
Initiatives |
Year Implemented |
Outcomes Achieved |
|
Reduce Waste |
|
|
| Established staff “food rescue” Telegram group to reduce food waste from our corporate events | 2024 | Gathered > 190 MAS staff to join our corporate food rescue Telegram group |
| Introduced umbrella dryers |
2022 |
Reduced the use of > 2,000 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 13% or 1.6 tonnes (equivalent of 38 trees) year-on-year, as of FY2023 |
|
Reuse |
|
|
| 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 |
|
|
|
Installed textiles recycling bin and organised workshop during MAS’ environmental sustainability week to create awareness on fast fashion waste |
2022 |
Collected > 4 tonnes of pre-loved textiles and apparel for recycling or upcycling |