The Straits Times
Businesses must get ahead of the curve in Singapore s pursuit of green growth: Grace Fu
Singapore accounts for close to 50 per cent of cumulative green bond and loan issuance in Asean.ST PHOTO: TIMOTHY DAVID
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The Straits Times
S’pore’s private sector heeds call for green finance growth
Singapore envisions becoming a regional green finance hub within a decade. And the local finance sector is fast seizing the initiative
With the growth of green finance in S’pore, ESG investing offers long-term growth opportunities while supporting sustainable outcomes.GRAPHICS: PRADIP KUMAR SIKDAR
PublishedMay 9, 2021, 4:00 am SGT
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Singapore is looking to leverage its position as one of the world’s most developed fintech markets to become a leader in green fintech, a vision part of a broader movement for the nation to become sustainable.
During a speech at the Singapore Fintech Awards Night on February 10, 2021, Grace Fu, Minister for Sustainability and the Environment of Singapore, highlighted Singapore’s massive fintech ecosystem, which currently represents more than 40% of all fintech companies in the Southeast Asian region. Simultaneously, the nation is ASEAN’s largest green finance market, accounting for close to 50% of cumulative green bond and loan issuances. These attributes make Singapore poised to become a leader in green fintech.
Regulation
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Source: Asia Insurance Review | Mar 2021
Taiwan’s insurers will continue their convergence to global standards to enhance their resilience. The convergence will come in the form of adoption of new accounting rules, migration to a new solvency and the associated changes to product mix, investment strategy and capital requirements, as well as the promotion of sustainable finance, says
Fitch Ratings’
In the past few years, Fitch has observed positive regulatory measures that cover products, investments, and capital rules to enhance insurers’ resilience. The Financial Supervisory Commission (FSC) has been tightening regulations to prepare life insurers for the eventual adoption of IFRS17 and migration to a new solvency framework.
No need for independent fiscal council in Singapore: Indranee Rajah Toggle share menu
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Second Minister for Finance Indranee Rajah speaking in Parliament on Feb 26, 2021.
26 Feb 2021 10:20PM) Share this content
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SINGAPORE: Singapore does not need an independent fiscal council because the country continues to be fiscally prudent, Minister in the Prime Minister s Office and Second Minister for Finance Indranee Rajah said on Friday (Feb 26) in response to a suggestion from Workers Party MP Jamus Lim.
Associate Professor Lim (WP-Sengkang) had proposed setting up an independent fiscal council to evaluate all major policy proposals by the Government and Members of Parliament for budgetary implications. The cost of setting up the office was estimated to be S$20 million.