Singapore will invest US$2 billion (S$2.7 billion) in funds that have a strong green focus as part of its ambition to be a leading centre of green finance in Asia and globally. “Finance fuels the economy and business. It determines investment decisions, and it drives action. We must make finance green, to drive climate action – mitigate and adapt to climate change,” said Education Minister Ong Ye Kung at the opening of the fourth instalment of the annual Singapore FinTech Festival (SFF) on Monday ( Nov 11) at the Singapore Expo. He unveiled several new initiatives as part of the Monetary Authority of Singapore’s (MAS) green action plan, which aims to place Singapore at the forefront of creating a greener financial system. Green finance involves making sure financial services such as borrowing and lending, as well as investing, deliver both returns and environmentally positive outcomes, including dealing with climate change. One of the initiatives is to do more in investing in green funds. MAS will launch a US$2 billion Green Investments Programme, where it will invest in funds that have a strong green focus in their investment strategies and with asset managers who are committed to deepening finance activities and capabilities in Singapore.

Singapore to invest US$2 billion in green funds to drive climate action, Business News & Top Stories – The Straits Times