The consultation seeks feedback on its “measures-based approach” to classifying industrial activities, as well as “Do No Significant Harm” criteria.
The Green Finance Industry Taskforce (GFIT) was convened by the Monetary Authority of Singapore (MAS) and includes representatives from financial institutions, corporates, and financial industry associations, among other stakeholders. The industry-led group aims to accelerate the development of green finance in Singapore through four initiatives:
- Developing a taxonomy
- Enhancing environmental risk management practices of financial institutions
- Improving disclosures
- Fostering green finance solutions