Singapore to Become a Green Finance Hub With $2billion Programme


Tuesday, November 12, 2019   / 07:19 AM /   By International Finance  /   Header Image Credit: travelzoo


MAS to establish Green Investments Programme to make the city state a hub of green finance activities


The Monetary Authority of Singapore plans to create a $2 billion green finance programme, the local media reported. The programme is an initiative that will seek to establish the country as a major green financing hub on the global front.


The programme is called the Green Investments Programme. It will direct funds to asset managers who are focused on strengthening Singapore's green finance activities and capabilities. These asset managers will invest the funds in public market firms, according to MAS board member and Education Minister Ong Ye Kung.


The programme's green finance activities include green-focused funds management, introducing environmental considerations into investment processes and channeling capital toward investments with a strong sustainability portfolio.


The Monetary Authority of Singapore is planning to allocate $100 billion for International Settlements' Green Bond Investment Pool as part of the programme.


Ye Kung told the local media that, "We can spur investments in renewables technology, in grid infrastructure, in battery storage. We also need investments in green buildings, efficient cooling and industrial systems, to optimise energy consumption. In time, maybe even bring about investments in carbon sequestration."


Besides investments, Singapore requires a range of green financing instruments such as bonds and loans. To date, green bonds worth more than $6 billion have been issued in Singapore.


Singapore's real estate developers such as CapitaLand and City Developments have secured green loans from banks to build environment-friendly projects. These projects comprise solar panels and energy efficient equipment.


Firms will have to incur costs to develop sustainability frameworks and seek external reviews in order to access green loans. Currently, green lending is a niche market in Asia that is set to become mainstream.


Proshare Nigeria Pvt. Ltd.


The post  Singapore to become a green finance hub with $2 bn programme  first appeared in International Finance on Tuesday, November 12, 2019.   


Proshare Nigeria Pvt. Ltd.


Related News

1.       EcobankPay Hits N1 Billion in Transactions Value

2.      Jumia Becomes First African Start-up To List On NYSE; Raises $200m On Day 1, Now Valued At $1.5bn

3.      Industry 4.0: Audit Professionals of the Future

4.      FirstBank Partners the Nigerian Army to Deepen Financial Inclusion

5.      Berkshire Partners To Invest In Teraco Data Environments

6.      Seven Of The 10 Largest Technology IPOs By Proceeds Raised Were Listed On Nasdaq In 2018

7.      Interested In Angel Investing? - Webinar for Nov 15, 2018

8.     Local Venture Capital Fund Formation Is on The Rise In Africa, Led By Nigeria

9.      SoftBank Is Taking Over Tech

10.  Nigeria to Sign MOU with China on $328m Funding of NICTIB Phase II

11.   Fmr SEC and FDIC Chairs Join Advisory Board of Omniex, A Crypto Investment and Trading Platform

12.  Cybersecurity Group Avast Valued At £2.4bn In London's Biggest Ever Software IPO

13.  Seismic Foundry FinTech Fund Invests In Second Capital Markets FinTech Firm

14.  Why Investing in Fintech Is Viable - Nouriel Roubini



Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Related News