The Monetary Authority of Singapore (MAS) has released three consultation papers on its proposed guidelines on environmental risk management for insurers, banks, and asset managers.
The guidelines aim to enhance financial institutions’ resilience to environmental risk, and strengthen the financial sector’s role in supporting the transition to an environmentally sustainable economy, both inside and outside Singapore, a statement by the MAS said. This is part of the regulator’s Green Finance Action Plan, which aims to make Singapore a global green finance hub.
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