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.
The total emissions for FY2024 were approximately 31% lower relative to FY2018. The completion of our chiller plant upgrading in Currency House brought Scope 2 emission down by 9.1% from FY2023. MAS remains on track to reach our targets for Scope 3 emissions (business air travel and outsourced currency operations). Outsourced currency operations achieved an emission reduction of 36.4% from FY2023. MAS will continue to explore other energy efficient measures to achieve our reduction targets.
MAS' CARBON PROFILE COMPRISING SCOPE 1, SCOPE 2, AND SCOPE 3 EMISSIONS
| Tonnes of CO2e (% of total) |
FY2018 | FY2022 | FY2023 | FY2024 |
| Direct Carbon Emissions (Scope 1) |
||||
| Fire Extinguishing Agent |
86 (<1%) |
86 (<1%) |
86 (<1%) |
86 (<1%) |
| MAS vehicles | 8 (<1%) |
4 (<1%) |
3 (<1%) |
2 (<1%) |
| Other fuel | 4 (<1%) |
1 (<1%) |
1 (<1%) |
1 (<1%) |
| Sub-total CO2e emissions (Scope 1) |
98 (1%) |
91 (1%) |
90 (1%) |
89 (1%) |
| Indirect Carbon Emissions (Scope 2) | ||||
| Electricity (including MAS' overseas offices) | 3,884 (24%) |
3,965 (32%) |
4,293 (30%) |
3,902 (35%) |
| Indirect Carbon Emissions (Scope 3) | ||||
| Business air travel | 4,417 (27%) |
2,209 (18%) |
3,711 (26%) |
3,094 (28%) |
| Business travel - Land |
14 (<1%) |
9 (<1%) |
13 (<1%) |
13 (<1%) |
| Leased office space(MAS Building) |
370 (2%) |
190 (2%) |
201 (1%) |
229 (2%) |
| Waste incineration | 302 (2%) |
130 (1%) |
145 (1%) |
146 (1%) |
| Outsourced Currency operations |
7,216 (44%) |
5,941 (47%) |
5,874 (41%) |
3,733 (33%) |
| Sub-total CO2 emissions (Scope 3) |
12,319 (75%) |
8,479 (68%) |
9,944 (69%) |
7,215 (64%) |
| Total Carbon Emissions | 16,301 | 12,535 | 14,327 | 11,206 |
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 FY2024 (excluding overseas offices) was 9,380,857 kWh, an 8.6% decrease from FY2023 and 2.2% higher than baseline. The decrease was due to the completion of an upgraded and more energy-efficient chiller plant at Currency House.Energy Utilisation Index (EUI)
Our baseline EUI was 144.3 kWh/m2 for MAS Building and Currency House. In FY2024, our EUI was 141.7 kWh/m2, a 1.8% decrease from our baseline.
| Baseline | FY2022 | FY2023 | FY2024 | |
| Electricity (kWh) | 9,179,097.5 | 9,748,811.5 | 10,265,377.0 | 9,380,857.4 |
| EUI (kWh/m2) | 144.3 | 148.6 | 155.1 | 141.7 |
Water
In FY2024, MAS Building and Currency House used a total of 32,594 m3 of water, a 13.6% decrease from FY2023 and 28.6% lower than baseline. The decrease was due to water savings from the completion of an upgraded and more water-efficient chiller plant at Currency House.
Water Efficiency Index (WEI)
Our baseline WEI was 84.5 litres/person/day for MAS Building and Currency House. In FY2024, our WEI was 83.6 litres/person/day, a 1.1% decrease from our baseline.
| Baseline | FY2022 | FY2023 | FY2024 | |
| Water (cubic metre) | 45,652.5 | 38,205.3 | 37,741.0 | 32,594.1 |
| WEI (litres/person/day) | 84.5 | 108.5 | 87.4 | 83.6 |
Waste Disposal
In FY2024, MAS Building and Currency House disposed a total of 135,987kg of general waste, a 2.5% decrease from FY2023 and 3.3% higher than baseline. The decrease was likely attributed to a reduced building occupancy of 8% in FY2024 compared to FY2023.
Waste Disposal Index (WDI)
Our baseline WDI was 0.37 kg/person/day for MAS Building and Currency House. In FY2024, our WDI was 0.31 kg/person/day, a 16.2% decrease from our baseline.
| Baseline | FY2023 | FY2024 | |
| Waste (kg) | 131,676 | 139,404 | 135,987 |
| WDI (kg/person/day) | 0.37 | 0.32 | 0.31 |