Gov’t establishes new sustainable finance body

The association will improve standards, solutions, and skills in the finance sector.

The government introduced the Singapore Sustainable Finance Association (SSFA), a new organisation aimed at developing new standards, solutions, and skills to bolster sustainable finance.

To improve standards, SSFA can lead in developing industry practices in carbon credits trading and transition finance.

For solutions, SSFA can bring together financial institutions and industry sectors to identify approaches addressing barriers in scaling the financing needed. SSFA can combine financing solutions from different asset classes to improve the bankability of projects.

In addition, SSFA can contribute to upskilling and capacity building initiatives through sustainable finance training courses including carbon markets, taxonomy application and blended finance.

Singapore is amongst the leading sustainable finance centres facilitating net zero transition across Asia and beyond. In 2022, Singapore recorded over $30b worth of sustainability and sustainability-linked bonds and loans.