The Monetary Authority of Singapore (MAS) has launched a guide for climate-related reporting and a structure for green trade finance to boost disclosures and promote green financial solutions.
The Green Finance Industry Taskforce (GFIT) has published the guide outlining how financial institutions should enforce climate-related disclosures in regard to expansion of green finance in the real estate, infrastructure, fund management, and transition industries, as well as implementation for climate-related declarations and a structure to help banks determine qualifying green trade finance activities.
Guidelines have been provided for the use of transition bonds and loans in the transportation, oil and gas, and automobile industries to promote sustainable activities, as well as a green securitisation framework to scale sustainable infrastructure projects in the area. GFIT will collaborate with industry organisations, banking institutions, and companies to formulate and enforce the recommendations in the next step of its work.