CTP 2 - Sustainable Finance
Global momentum has been building towards recognition of the role played by environmental, social and governance (ESG) factors in investment decisions. The number of signatories to the Principles for Responsible Investment (PRI) has crossed more than 1,750 signatories, from over 50 countries, representing approximately US$70 trillion over the past decade. The Association of Banks in Singapore (ABS) has also released guidelines on responsible financing that define the minimum standards regarding ESG issues to be integrated into banks’ business models in Singapore.
The Financial Stability Board has highlighted climate change as a risk to the stability of the global financial system and set up the Task Force on Climate-related Financial Disclosures (TCFD). The task force brought out its report recommending companies to disclose physical risks from extreme weather such as storms and droughts, and commercial risks related to the global transition to a lower carbon economy. Support for this initiative has also been increasing with two hundred thirty-seven companies having a combined market capitalization of over $6.3 trillion publicly committing to support the Task Force on Climate-related Financial Disclosures (TCFD). This includes over 150 financial firms, responsible for assets of over $81.7 trillion.
The transition to a sustainable, low-carbon economy requires adequate availability of financial capital. Green bonds are one such instrument that are gaining in popularity that finance green projects or assets with environmental benefits, such as renewable energy, low carbon transport or forestry projects. In order to support the issuance of green bonds in Singapore, Monetary Authority of Singapore (MAS) has announced a Green Bond Grant Scheme to cover the expenses associated with obtaining an external review for green bonds.
- What do these trends mean for corporates and financial institutions in Singapore?
- Are companies prepared for the risks associated with climate change?
- How can companies access sustainable finance for their initiatives?
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Join this forum to hear and learn from a diverse panel comprising representatives from corporates, financial institutions and regulator.
CPD Hours : 2
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