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Budget 2021: Government to issue green bonds to help enable sustainability efforts Toggle share menu
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Budget 2021: Government to issue green bonds to help enable sustainability efforts
An artist s impression of Tuas Nexus which shows the co-location of the Integrated Waste Management Facility (IWMF) (left) and the Tuas Water Reclamation Plant (Tuas WRP) (right). (Image: National Environment Agency and PUB)
16 Feb 2021 07:09PM) Share this content
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SINGAPORE: The Government will issue green bonds on select public infrastructure projects, with up to $19 billion of public sector green projects already identified, said Finance Minister Heng Swee Keat in his Budget speech on Tuesday (Feb 16).
The Straits Times
Green bonds for some public infrastructure projects
Mr Alvin Seo, global lead for environment, social and governance at solar company Maxeon Solar Technologies, said Singapore s plan to develop into a hub for sustainable finance and carbon services - which include trading carbon credits - could help in the green recovery from Covid-19 and lead to economic growth. PHOTO: COURTESY OF ALVIN SEO
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Welcome to the fifth edition of Singapore FinTech Festival and SWITCH.
More than 60,000 participants from over 130 countries have joined us in the world s first week-long-round-the-clock hybrid digital and physical event.
Let me also welcome participants of the Milken Institute Asia Summit joining us.
FinTech as a Force for Good
We are in the
midst of three global crises – a pandemic; a recession; and climate change.
Covid-19 has infected 67 million people and taken the lives of 1.5 million across the world.
The global economy has plunged into its worst recession since the Second World War.
One in five people in the world were affected by climate disasters in the last decade.
Embracing sustainable finance efforts
Embracing sustainable finance efforts - illustration photo
Vietnam is implementing a National Strategy for Green Growth and a National Green Growth Action Plan; with both initiatives backed by the financial sectorâs action plan to implement the national strategy for green growth.
In Singapore, the Monetary Authority of Singapore announced a Green Finance Action Plan in November 2019 to make green finance a defining feature of the financial sector.
In Brunei, the government issued its Blueprint 2016-2025, with the goal of developing Islamic fund management credentials and promoting investment along the sustainable, responsible, and impact criteria.
The Securities and Exchange Commission in Thailand established a committee and a working group relating to sustainable finance in 2019 to engage representatives from various stakeholders, including the Stock Exchange of Thailand, government agencies, and industry associations.