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Singapore’s green credentials will grow

Wednesday, December 7, 2022

Significance

In October, it signed a landmark green economy deal with Australia. The Financial Services Industry Transformation Map (ITM) 2025 released by the Monetary Authority of Singapore in September has several climate-related features. The Singapore Green Plan 2030 was unveiled in 2021.

Impacts

  • High costs risk eroding public support for lifestyle changes that benefit the environment.
  • Breaking the economic reliance on the oil and gas industry may hinge on opening new income streams.
  • Green bonds will help position Singapore as a champion of sustainability.

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