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 from the FY2018 baseline are set using the Science Based Targets initiative (SBTi) methodology, independently validated (294.6 KB)by KPMG Services Pte Ltd in 2022.
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%
We achieved our FY2025 reduction target of 17.5% for Scope 1, Scope 2 and Scope 3 (business air travel) carbon emissions reduction from the baseline in FY2018 as detailed in the table below.
| Tonnes of CO2e | FY2018 | FY2025 |
| Scope 1 | 98 | 88 |
| Scope 2 | 3,884 | 3,437 |
| Scope 3 (Business Air Travel) | 4,417 | 2,085 |
| Total Carbon Emissions | 8,399 |
5,610 (~33% reduction) |
MAS has met our FY2025 reduction target of 10% for Scope 3 (outsourced currency operations) carbon emissions reduction from the baseline in FY2018. In particular, the Scope 3 (outsourced currency operations) emissions in FY2025 were 45% lower than in FY2018, driven by ongoing initiatives , such as encouraging the use of Fit notes for festive gifting during Lunar New Year.
| Tonnes of CO2e | FY2018 | FY2025 |
| Scope 3 (Outsourced Currency Operations) | 7,216 |
3,972 (45% reduction) |
Carbon Footprint of MAS’ Corporate Activities
Total scope 1, 2 & 3 emissions in FY2025 were approximately 11.8% lower than FY2024 and 39.4% lower than in FY2018 (baseline). For Scope 2, it is 12% lower than FY2024 primarily due to the upgraded chiller plant in Currency House. For Scope 3, it is about 11.9% lower than FY2024 due to reduction in business air travel.
MAS' CARBON PROFILE COMPRISING SCOPE 1, SCOPE 2, AND SCOPE 3 EMISSIONS
| Tonnes of CO2e (% of total) | FY2018 | FY2023 | FY2024 | FY2025 |
| Direct Carbon Emissions (Scope 1) | ||||
| Fire Extinguishing Agent | 86 (<1%) |
86 (<1%) |
86 (<1%) |
86 (<1%) |
| MAS vehicles | 8 (<1%) |
3 (<1%) |
2 (<1%) |
1 (<1%) |
| Other fuel | 4 (<1%) |
1 (<1%) |
1 (<1%) |
1 (<1%) |
| Sub-total CO2e emissions (Scope 1) | 98 (1%) |
90 (1%) |
89 (1%) |
88 (1%) |
| Indirect Carbon Emissions (Scope 2) | ||||
| Electricity (including MAS' overseas offices) | 3,884 (24%) |
4,293 (30%) |
3,902 (35%) |
3,437 (35%) |
| Indirect Carbon Emissions (Scope 3) | ||||
| Business air travel | 4,417 (27%) |
3,711 (26%) |
3,094 (28%) |
2,085 (21%) |
| Business travel - Land | 14 (<1%) |
13 (<1%) |
13 (<1%) |
15 (<1%) |
| Leased office space(MAS Building) | 370 (2%) |
201 (1%) |
229 (2%) |
155 (2%) |
| Waste incineration | 302 (2%) |
145 (1%) |
146 (1%) |
132 (1%) |
| Outsourced Currency operations | 7,216 (44%) |
5,874 (41%) |
3,733 (33%) |
3,972 (40%) |
| Sub-total CO2 emissions (Scope 3) | 12,319 (75%) |
9,944 (69%) |
7,215 (64%) |
6,359 (64%) |
| Total Carbon Emissions | 16,301 | 14,327 | 11,206 | 9,884 |
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 usage for MAS Building and Currency House in FY2025 (excluding overseas offices) was 8,493,401 kWh, representing a reduction of approximately 9.5% from FY2024 and 7.5% lower than the 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 FY2025, our EUI was 127.8 kWh/m2, an 11% decrease from our baseline.
| Baseline | FY2023 | FY2024 | FY2025 | |
| Electricity (kWh) | 9,179,097.5 | 10,265,377.0 | 9,380,857.4 | 8,493,401.0 |
| EUI (kWh/m2) | 144.3 | 155.1 | 141.7 | 127.8 |
Water
In FY2025, MAS Building and Currency House used a total of 35,038.2 m3 of water, a 7.5% increase from FY2024 and 23.3% lower than the baseline. The increase in water consumption in FY2025 was due to increase in building occupancy and on-going renovation works in MAS Building.
Water Efficiency Index (WEI)
Our baseline WEI was 84.5 litres/person/day for MAS Building and Currency House. In FY2025, our WEI was 85.3 litres/person/day, a 0.9% increase from our baseline.
| Baseline | FY2023 | FY2024 | FY2025 | |
| Water (cubic metre) | 45,652.5 | 37,741.0 | 32,594.1 | 35,038.2 |
| WEI (litres/person/day) | 84.5 | 87.4 | 83.6 | 85.3 |
Waste Disposal
In FY2025, MAS Building and Currency House disposed of a total of 123,945 kg of general waste, an 8.9% decrease from FY2024 and 5.9% lower than the baseline.
Waste Disposal Index (WDI)
Our baseline WDI was 0.37 kg/person/day for MAS Building and Currency House. In FY2025, our WDI was 0.27 kg/person/day, a 27% decrease from our baseline.
| Baseline | FY2023 | FY2024 | FY2025 | |
| Waste (kg) | 131,676 | 139,404 | 135,987 | 123,945 |
| WDI (kg/person/day) | 0.37 | 0.32 | 0.31 | 0.27 |