Monetary Authority of Singapore's managing director calls for urgency to act on climate change

SINGAPORE, May 31 (Bloomberg): The head of Singapore’s central bank called on global peers to show urgency in greening financial markets and pursuing policies that help the world achieve net-zero carbon emissions by 2050.

The global recovery from the pandemic is being powered by fossil fuels and the financing landscape will determine how soon the world transitions to its green goals, Ravi Menon, managing director of the Monetary Authority of Singapore, said Tuesday at the Bank of International Settlements’ "Green Swan” virtual conference.