MAS continues to invest in the skills and capabilities of our people and organisation, including reskilling and upskilling of those in the existing workforce. Over the past year, the IBF has trained 1,750 participants through more than 80 sustainable finance courses, including those accredited under the 12 Sustainable Finance Technical Skills and Competencies (TSCs) under the Skills Framework for Financial Services. 

Singapore is ASEAN’s largest market for green, social, sustainability and sustainability-linked (GSSSL) bonds and loans, accounting for more than half of the marketClimate Bonds Initiative, ASEAN Sustainable Finance State of the Market 2022.. MAS supports global and Asian corporates to access sustainable financing for green and transition projects through the Sustainable Bond Grant Scheme and the Sustainable Loan Grant Scheme.

In 2023, GSSSL loans originated from Singapore increased for the sixth consecutive year with over S$30 billion loans issued (see Chart 2). Singapore GSSSL bond issuance volumes declined in 2023, amid a global slowdown in bond issuances due to rising interest rates and inflation (see Chart 1).

Chart 2: Green, Social, and Sustainability-linked Loan Issuance Volume in Singapore (2018 to 2023)