Singapore's central bank mulls new green financing perks for institutions

Singapore city skyline. Photo: Nicky Loh/Bloomberg

Singapore may expand green financing incentives for financial services companies to boost their resilience against the economic impact of climate change.

That’s according to Monetary Authority of Singapore Managing Director, Ravi Menon, who says the central bank sees opportunity to expand its sustainable grant program beyond bonds. Financial institutions need to prepare for potential changes in asset values and policy caused by climate change, and be able to seize new business opportunities, he said.

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