During the 2nd China-Singapore Green Finance Taskforce meeting last month, the Monetary Authority of Singapore (MAS) and People’s Bank of China (PBC) discussed initiatives to advance cooperation in green and transition finance between their two countries.
The initiatives discussed covered the alignment of taxonomies, facilitation of green finance flows, and the development of a decarbonization rating platform.
The two sides also discussed emerging areas of interest, including nature and biodiversity, ESG data model interoperability, and the use of AI and advanced data analytics to facilitate the collection, access and optimization of high-quality ESG data to drive green efforts.
According to a statement to local media, MAS Chief Sustainability Office Gillian Tan, who co-chairs the task force with China Green Finance Committee Chair Dr. Jun Ma, said: “The GFTF is a key platform for China and Singapore to jointly develop concrete and meaningful initiatives to advance green finance cooperation.”
“The wide range of deliverables announced today is a testament to the strong collaboration between MAS, PBC, and industry partners from both countries and our shared ambition to mobilize the financing required for an effective transition to net zero in the region,” Tan added.
