New Singapore guidelines for banks to finance transition activities to drive greater climate action

The new criteria will reduce the risk of green or transition washing by banks and financial institutions. - PHOTO: ST FILE

DUBAI: To boost climate mitigation across eight key sectors, Singapore has set new criteria for banks and financial institutions on the financing of green business activities, and transitional activities that are currently not green but are on a pathway to net-zero emission.

This will reduce the risk of green or transition washing by banks and financial institutions and ensure that transition activities will meet the green criteria over time.