The Finance Minister of Singapore Lawrence Wong has revealed the country will establish a new office to help bolster sustainable financing and investments in the country.
According to Channel News Asia, the new Green Bonds Programme Office will be set up under the Ministry of Finance as Singapore looks to expand its green finance ecosystem.
The new office will look to create a framework and work alongside statuory boards as well as perform industry engagement and manage investor relations.
Mr Wong remarked that in order to grow the supply and demand for green investments, the Singaporean government will ‘lead the way’ by laying out the framework and rules, test run them with its issuances and find ways to convene and connect the different stakeholders.
To help individuals, Mr Wong mentioned that the Monetary Authority of Singapore will facilitate the issuance of sustainable financing instruments – including green and sustainability-linked bonds and loans.
Wong added, “This will support corporates in accessing financing as they invest in green projects and transition towards more sustainable business practices.”
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Copyright © 2018 RegTech Analyst