Singapore is furthering its sustainable finance efforts with the launch of a new association to support related developments.
The Singapore Sustainable Finance Association (SSFA) has officially launched, according to a statement. The association aims to support the development of Singapore as a leading global center for sustainable finance.
The cross-sectoral industry body will focus on four strategic objectives: the development of the sustainable finance ecosystem and promotion of best practices; facilitation of collaboration between the financial and non-financial sectors; bolstering Singapore as a sustainable finance thought leader and; the deepening of sustainable finance capabilities in the city-state.
Executive Committee
SSFA’s executive committee will be made up of C-suite representatives from financial institutions, non-financial sector corporates and academia to provide strategic guidance. In the first term, the co-chairs will include Deborah Ho, BlackRock’s country head of Singapore and regional head of Southeast Asia, as well as Wong Kee Joo, HSBC Singapore CEO.
Monetary Authority of Singapore's assistant managing director (development and international) and chief sustainability officer Gillian Tan as well as the Association of Bank in Singapore’s director Ong-Ang Ai Boon will be standing members of the committee. The association will also be supported by a dedicated secretariat team led by SSFA director Kavitha Menon.
First Meeting
SSFA’s executive committee has completed its first meeting and in addition to formalizing its governance structure, it has also established work streams to focus on five key areas: carbon markets, transition finance, blended finance, natural capital and biodiversity as well as taxonomy.
Interested organizations can apply for SSFA membership. Members can expect to participate in work streams, gain access to related events and be appraised of the latest developments.
