The Singapore Sustainable Finance Association (SSFA), with support from the Monetary Authority of Singapore (MAS), has launched the second edition of the Singapore-Asia Taxonomy for Sustainable Finance (SAT).
This update, announced at COP31 in Antalya on 11 November 2026, revises the technical screening criteria for four key sectors: Energy, maritime, iron and steel, and data centres.
An addendum has also been published to guide enabling activities that support green and transition outcomes.
The SAT, initially launched at COP28 in December 2023, serves as a crucial reference for financial institutions and corporates in assessing transition finance eligibility. The updated edition aligns with evolving decarbonisation pathways and provides a practical basis for transition finance across Asia.
The revision emphasises measurable emissions performance and strengthens interoperability with international frameworks.
Key updates include:
– **Energy**: Criteria now align with the Global Energy and Climate Outlook 2024 scenario, supporting credible transition efforts without undermining net zero ambitions.
– **Maritime**: Criteria are aligned with the International Maritime Organisation’s 2023 GHG Strategy, enhancing interoperability with the EU and ASEAN taxonomies.
– **Iron and Steel**: The focus shifts to emissions-intensity rather than specific technologies, allowing various production routes to qualify.
– **Data Centres**: Criteria align with Singapore’s Green Mark framework, recognising trade-offs between power and water usage in water-stressed locations.
The revision involved consultations with over 15 organisations and sectoral working groups, translating decarbonisation pathways into actionable criteria. The addendum provides clarity on supporting enabling activities across the value chain, addressing transition-enabling activities and clarifying equity investments’ scope.
Abigail Ng, Chief Sustainability Officer at MAS, stated, “The second edition of the Singapore-Asia Taxonomy ensures that the SAT continues to reflect developments in sectoral transition pathways, technology and practical implementation experience.”
The updated taxonomy aims to mobilise capital towards Asia’s decarbonisation, providing a consistent basis for deploying green and transition capital.
“`
