Companies will have to issue emissions reports, subject to strict disclosure and verification requirements, used to determine allowances.
Proposed requirements for fund managers cover four governance, investment management, risk management and disclosure.
Association calls for ‘comply-or-explain’ policing of stewardship codes, more prominent role for ESG.
The plan, backed by five government agencies, includes the introduction of a carbon market and two-way cross-border participation in green finance and climate-friendly investment.
As part of a vision to make Singapore the leading centre for green finance in Asia, MAS will incorporate climate-related scenarios in its annual stress tests “within the next two years”.
Survey suggests major investment institutions demanding are more from managers, while also building in-house capabilities.
The SGFC is Singapore’s first research institute dedicated to green finance research and talent development and is support by MAS and nine partner financial institutions.
As Asia’s asset owners and managers get to grips with sustainability factors at varying speeds, regulators are pushing the pace of change.
CFA Institute says 75% of global C-level executives in the investment industry believe climate change is important, but only 40% incorporate it in their investment process.
A new report proposes a system for labelling issuers for firm-level greenness based on carbon intensity, the ratio of carbon emissions to revenue.
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