Overview
A well designed taxonomy will set out the environmental objectives, sectors and activities that are in scope. Metrics and thresholds that set out how activities can be classified as green or transition to their level of alignment with the environmental objectives will provide clear guidance to financial institutions. This further supports the provision of transition finance to the broader economy, and facilitate the move towards a cleaner and greener economy.
MAS' Efforts in Taxonomy
We are contributing to local and regional taxonomy efforts and global initiatives to improve the compatibility of taxonomy frameworks. Compared to other taxonomies, a key feature of the Green Finance Industry Taskforce taxonomy is that it encompasses transition activities that allow for a progressive shift towards greater sustainability while taking into account starting positions and supporting inclusive economic and social development.
Green Finance Industry Taskforce (GFIT)
Singapore
The Green Finance Industry Taskforce (GFIT), convened by the Monetary Authority of Singapore (MAS) establishes and proposes taxonomy for Singapore-based financial institutions by identifying activities that can be considered green or transitioning towards green.
ASEAN Taxonomy for Sustainable Finance
ASEAN
Developing an ASEAN Taxonomy for Sustainable Finance with our regional counterparts for the banking, insurance and capital markets sectors.
International Platform on Sustainable Finance (IPSF)
International
Working with the International Platform on Sustainable Finance (IPSF) to develop a Common Ground Taxonomy that aims to enhance the comparability and interoperability of taxonomies globally .
G20 Sustainable Finance Working Group (SFWG)
International
Participating in the G20 Sustainable Finance Working Group (SFWG) to improve coordination on taxonomies across countries and markets.
What's New
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"Growing a Vibrant Insurance Linked Securities Market in Asia" - Speech by Mr Lim Cheng Khai, Executive Director, Financial Markets Development Department, Monetary Authority of Singapore, at the Artemis ILS Asia Conference 13 July 2023
Steve Evans, Editor in Chief, Artemis Distinguished guests Ladies and gentlemen Introduction 1. Good morning. Thank you for having me at the Artemis ILS Asia Conference. It is good to see the event back for its fifth installation in Singapore. I am happy to be here, to reconnect with friends I’ve met in Artemis New York...
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Speech by Mr Lawrence Wong, Deputy Prime Minister and Minister for Finance, and Deputy Chairman of MAS, at the Official Launch of the Sustainable and Green Finance Institute (SGFIN) on 20 April 2023
At the official launch of the SGFIN, Mr Lawrence Wong, Deputy Prime Minister and Minister for Finance, and Deputy Chairman of MAS, announced the launch of MAS' Finance for Net Zero Action Plan.
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Test - Speech by Mr Lawrence Wong, Deputy Prime Minister and Minister for Finance, and Deputy Chairman of MAS, at the Official Launch of the Sustainable and Green Finance Institute (SGFIN) on 20 April 2023
At the official launch of the SGFIN, Mr Lawrence Wong, Deputy Prime Minister and Minister for Finance, and Deputy Chairman of MAS, announced the launch of MAS' Finance for Net Zero Action Plan.
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MAS Launches Finance for Net Zero Action Plan
Mr Lawrence Wong, Deputy Prime Minister and Minister for Finance, and Monetary Authority of Singapore (MAS) Deputy Chairman, today announced the launch of MAS’ Finance for Net Zero (FiNZ) Action Plan at the opening of the Sustainable and Green Finance Institute of the National University of Singapore.
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"What Does it Take to Get to Net Zero" - Keynote Speech by Mr Ravi Menon, Managing Director, Monetary Authority of Singapore, at the Economic Society of Singapore Annual Dinner 2022 on 17 August 2022
At the Economic Society of Singapore Annual Dinner 2022, Mr Ravi Menon, Managing Director, MAS, spoke about five transformative changes to get to net zero - a price on carbon; a shift to cleaner energy; a greening of the economy; a pivot to transition finance; and a sustainable lifestyle.