In 2019, the Monetary Authority of Singapore (MAS) announced the development of a new and comprehensive long-term strategy to make sustainable finance a defining feature of Singapore's role as an international financial centre. Built on three core pillars—building resilience, developing markets, and leveraging technology—the Green Finance Action Plan will be articulated through actions in six areas:
- Environmental Risk Management Guidelines across the banking, insurance, and asset management sectors;
- Grant schemes to support mainstreaming of green and sustainability linked loans;
- A US$2 billion Green Investments Programme;
- Expansion plans of external reviewers and rating agencies;
- Anchor Centres of Excellent with world-class research institutions and leading universities to contribute Asia-focused climate research and training programmes; and
- Green Finance as a key theme in the 2020 fintech Hackcelerator.