As part of our shared vision for a greener future, Singapore’s Monetary Authority of Singapore (MAS) has deepened its ties with the People’s Bank of China (PBOC). The two financial giants recently held their third collaborative workshop – the Singapore-China Green Finance Task Force (GFTF) meet-up – which saw some exciting breakthroughs emerge in the field of green and transition finance.
This particular gathering marked a significant milestone as it took place right here in Singapore for the very first time. More than 40 key players joined forces across various industry sectors to brainstorm new ways forward, focusing primarily on sustainable lending practices such as taxonomic consistency and seamless global funding streams.
Some major developments sprouted out during these talks. Firstly, we’re seeing great strides taken towards achieving ‘taxonomic harmony’, thanks largely due creditable ground broken via launching “Multi-jurisdictional common grounds taxonomy” last November. For example; earlier this year back in June, OCBC made headlines after successfully securing & issuing what would be termed world’s first ever loan tied strictly along lines drawn by said multi jurisdictionally compliant framework!
Meanwhile talks continue actively underway regarding bringing all together more unified norms related specifically dealing aspects revolving environmental sustainability worldwide investment frontlines- thus paving road easier passage allowing greater free flow intercontinental capital injection.
Singaporean companies too caught wind of news circulating concerning creation possibility implementing ‘Green Panda Bond Issuance.’ All being equal; they started looking seriously interested joining fray alongside using similar environmentally conscious method called ‘Align Debt Financing Alongside’ principle under same umbrella concept brought upon them via partnership formed priorly Chinese counterpart firms partnering SGX exchange.
On tech side; local firm known ‘mvgx’, hand-in-hand teamed up closely cooperating heavily especially w/Chinese equivalent dubbed Beijng Green Exchange creating cutting-edge platforms designed help effectively track reduction greenhouse gas impact outputs efficiently measure carbon footprint accurately pinpoint specific areas require utmost improvement most urgently prioritize focus addressing current ecological woes affecting entire regions surrounding planet earth today! Their ambitious goal clearly stated making available highly precise tools aid smooth implementation successful large-scale green investing projects around globe faster safer way reach collective target reduce total emission levels globally set forth mission statement aiming attain complete Net Zero status long term horizon.
During closing remarks Gillian Tan – one leading members group representing SIngapore side expressed sentiment strongly emphasizing importance continually pushing drive innovation strengthen international ties forge lasting partnerships propel rapid advance eco-friendly practices benefit overall socio-economic prosperity region wise striving achieve cleaner healthier tomorrow. They also opened discussion exploring fresh avenues further strengthening cooperation covering broader spectrum other emerging themes notably those encompassing conservation efforts supporting diverse wildlife preservation strategies coupled possible synergies arising innovative approaches fostering accelerated progress green infrastructure devt Shanghai area..
