Strategy
Overview
Our carbon footprint is primarily generated by three major components: electricity consumption (Scope 2 emissions), business air travel (Scope 3 emissions), and outsourced currency operations (Scope 3 emissions), which together account for approximately 96% of our total emissions in FY2025.
We have developed a roadmap that sets out our targets and strategies for emissions reduction in Scope 1, Scope 2, and Scope 3 (business air travel and outsourced currency operations) by FY2025 and FY2030. This year, we assessed our progress against the FY2025 targets and are evaluating the effectiveness of our strategies to progress towards our FY2030 objectives.
Our approach involves evaluating the potential for reducing the major components of our carbon footprint and conducting cost-benefit analyses to determine the best approaches. It also includes building a culture of sustainability within the organisation, focusing on reducing, reusing and recycling.
Scope 2 Emissions Reduction
Energy Efficiency Measures for our Buildings
The completion of the central air-conditioning plant upgrade at Currency House has helped reduce electrical consumption by approximately 750,000kWh for MAS. We have implemented hybrid cooling in 75% of MAS offices and will continue to explore the feasibility of optimising energy utilisation using innovative technologies.
Renewable Energy
Since the completion of the solar harvesting system installation at Currency House in August 2024, we are able to harvest about 96,000 Kwh annually, which reduced Currency House’s FY2025 electricity consumption by about 4.7%.
Green Building Certifications
MAS is in the midst of implementing several energy efficient measures in order to achieve Building and Construction Authority’s (BCA) Green Mark 2021 Platinum Super Low Energy certification for Currency House by 2030.
Scope 3 Outsourced Currency Operations
To drive greater public adoption of Fit notes for festive gifting during Lunar New Year (LNY) 2026, MAS continued with its multi-year public outreach campaign and strengthened its partnership with banks to enhance the accessibility of Fit notes through an expanded network of pop-up and branch ATMs dispensing Fit notes.
More Singaporeans are opting for greener ways to celebrate LNY. In LNY 2026, about 18.5 million pieces of Fit notes were exchanged, a 14% increase from LNY 2025. This translated to significant emissions savings of around 551 tCO2e from not issuing an equivalent amount of new notes to meet festive demand - comparable to powering about 300 four-room HDB flats annually.