MAS continues to invest in the upskilling and reskilling of the financial sector workforce in sustainable finance. Since the launch of the JTM in April 2024, at least 4,100 financial sector professionals have been trained in IBF-accredited or recognised courses in sustainable finance.

IBF has also issued more than 8,200 Skills Badges to individuals who have completed IBF-accredited sustainable finance courses.  

Singapore is ASEAN’s largest market for green, social, sustainability and sustainability-linked (“GSSSL”) bonds and loans, accounting for more than half of the market. 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 .

Singapore GSSSL bond issuance volumes rebounded in 2024, in line with stepped up bond issuances globally due to a more benign interest rate environment (see Chart 1). GSSSL loans originated from Singapore in 2024 hit a yearly high for the seventh consecutive year with over S$48 billion loans issued (see Chart 2).

Source: MAS' estimates

Chart 2: Green, Social, and Sustainability-linked Loan Issuance Volume in Singapore (2018 to 2024)

SourceMAS has been referencing Environmental Finance Database for the total volume of GSSSL loans in Singapore from 2022. The database including for loans in preceding years has been updated as information on GSSSL loans are made available. As such, there may be slight variations to previous years loan figures as shown in earlier MAS’ Sustainability Reports.:  Environmental Finance database, based on country of borrower headquarters