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MAS taskforce issues guide for climate-related disclosures and framework for green trade finance

Felicia Tan
Felicia Tan5/19/2021 12:40 PM GMT+08  • 5 min read
MAS taskforce issues guide for climate-related disclosures and framework for green trade finance
Based on the framework, HSBC and UOB have already piloted four green trade finance transactions.
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A financial industry taskforce convened by the Monetary Authority of Singapore (MAS) has launched several initiatives to accelerate green finance in Singapore on May 19.

One such initiative is the issuance of a detailed implementation guide by the Green finance Industry Taskforce (GFIT) for climate-related disclosures by financial institutions.

The guide sets out best practices that're aligned with the recommendations of the Financial Stability Board’s Task Force on Climate-Related Financial Disclosures (TCFD). It also outlines specific disclosure practices for each of the banking, insurance and asset management sectors.

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