SINGAPORE: The Monetary Authority of Singapore (MAS) said on Wednesday (Jun 9) that it will invest US$1.8 billion (around S$2.4 billion) into climate-related investment opportunities.
These funds will be placed with five asset managers under its Green Investments Programme (GIP) to “manage new equity and fixed income mandates focused on climate change and the environment”, announced MAS managing director Ravi Menon at the launch of the central bank’s first sustainability report.
“The GIP will help to enhance the climate resilience of the official foreign reserves, attract sustainability-focused asset managers to Singapore and catalyse funding towards environmentally sustainable projects in Asia and beyond,” he added.
The appointed asset managers, which were not named, will establish their regional sustainability hubs in Singapore where they will launch new thematic funds focused on environmental, social and corporate governance (ESG).
They will also build capabilities in green finance through in-house and external training programmes, as well as generate deeper research on ESG and green financial technology efforts.
