The Monetary Authority of Singapore (MAS) will deploy US$1.8 billion ($2.4 billion) to five asset managers to establish their Asia Pacific sustainability hubs in Singapore.

The five asset managers, who have yet to be named, will launch new thematic funds focused on environmental, social and corporate governance (ESG).

These funds will manage new equity and fixed income mandates focused on climate change and the environment. The appointed managers will also invest in upskilling and capacity building plans on sustainability and furthering ESG research and green FinTech efforts, says Ravi Menon, managing director of the Monetary Authority of Singapore (MAS).

The sum is part of the Green Investments Programme (GIP), which was first announced in November 2019 at the Singapore FinTech Festival. MAS’ first investment under the GIP was a US$100 million placement in the Bank for International Settlements (BIS)’ Green Bond Investment Pool (GBIP), announced then.


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Menon was speaking at the launch of the MAS’ inaugural sustainability report, which brings together the central bank’s efforts at standardising climate change and sustainability reporting in Singapore.

“This inaugural Sustainability Report brings together the efforts that MAS is undertaking through its different roles to contribute towards a climate resilient and environmentally sustainable world. We aim to lead by example, and we hope that financial institutions in Singapore and Asia will follow,” says Menon.

In addition, corporate climate change disclosures will soon be mandatory, with more details expected in 3Q2021 from MAS and the Singapore Exchange (SGX).

Together with the bourse, MAS will create roadmaps for mandatory climate-related financial disclosures by financial institutions and listed companies in Singapore. The regulatory bodies will consult the financial industry in the coming months.