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Singapore’s sustainable finance taxonomy is aligned with those of the EU and China after it was launched at the end of last year. This alignment will serve as a framework for investors to assess green economic activities across these three regions.

Recent surveys show that Singapore banks have failed to honor their commitments to stop financing coal-fired power plants. Specifically, DBS Bank, UOB, and OCBC Bank were found to have provided up to $2 billion to the coal industry.

Singapore’s gas and electricity prices have risen due to the impact of higher carbon tax, goods and services tax (GST) increments, and rising energy costs.

CLIMATE Impact X has secured investment from Japan’s Mizuho Financial Group, which will collaborate with the Singaporean carbon exchange to meet the growing demand for international carbon credits among Japanese companies.

Singapore’s WealthGreen has launched its new app to disrupt sustainable investing and give retail investors access to the carbon credit market. The business was exemplified by Singapore’s Climate Impact X.

Asia Carbon Institute, a carbon credit certification, was established in Singapore. The non-profit has formulated a voluntary carbon credit standard and will adopt strict validation processes to determine each carbon credit represents a reduction in carbo

The International Emissions Trading Association (IETA) has launched its Asia hub in Singapore on Jun 8.

The Monetary Authority of Singapore (MAS) has announced that to decarbonize the economy, Singapore will expand its focus, which is now solely on green finance, to the one that also includes transition finance by mapping out clear definitions, encouraging

Singapore will raise its carbon tax by 500% to SG$25 per tonne in 2024, said Lawrence Wong, the city-state’s finance minister, as the government strives to achieve its net zero goal by 2050.