MAS unveils Finance for Net Zero Action Plan

The new net zero plan has expanded to include transition finance.

The Monetary Authority of Singapore (MAS) has launched the Finance for Net Zero (FiNZ) Action Plan.

Deputy Prime Minister and Minister for Finance Lawrence Wong unveiled the action plan at the opening of the Sustainable and Green Finance Institute of the National University of Singapore.

The action plan expands the scope of MAS’ Green Finance Action Plan that was launched in 2019 and sets out the central bank’s strategies to mobilise financing in order to catalyse Asia’s net zero transition and decarbonisation activities in the Lion City and the region.

ALSO READ: Banks lagging behind net zero energy goals

Notably, it now includes transition finance– the investment, lending, insurance, and related services to progressively decarbonize areas such as power generation, buildings, and transportation.

The FiNZ action plan outlined four strategic outcomes: promotion of a consistent, comparable, and reliable climate data and disclosures to safeguard against greenwashing; build up the climate resilience of the financial sector; outline credible transition plans, with MAS engaging with various international partners to develop this; and promotion of innovative and credible green and transition financing solutions.

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit