Singapore's proposed guidelines on transition planning for financial institutions

On 18 October 2023, the Monetary Authority of Singapore (MAS) issued a set of consultation papers proposing guidelines (the Proposed Guidelines) on transition planning for banks, insurers and asset managers (collectively, the FIs). 

The Proposed Guidelines set out MAS’ supervisory expectations for FIs to have a sound transition planning process to enable effective climate change mitigation and adaption measures by their customers and investee companies in the global effort to transition towards a net-zero economy and the expected physical effects of climate change. 

The Proposed Guidelines are meant to supplement the Environment Risk Management (ENRM) Guidelines and information paper with additional granularity in relation to the respective FIs’ transition planning process.

For more information, click here for our full briefing.