COP28: Singapore sets new rules to reduce risk of greenwashing by banks

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Singapore and Rwanda signed a Memorandum of Understanding (MOU) to collaborate on carbon credits
2023-12-07
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Singapore and China signed 24 memorandums of understanding (MOUs) and agreements
2023-12-14
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Singapore and Rwanda signed a Memorandum of Understanding (MOU) to collaborate on carbon credits
2023-12-07
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Singapore and China signed 24 memorandums of understanding (MOUs) and agreements
2023-12-14

On December 3, 2023, the Singapore-Asia Taxonomy was launched by the Monetary Authority of Singapore (MAS) at the ongoing United Nations COP28 climate conference in Dubai.

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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.

Senior Minister Teo Chee Hean, who was also at the launch, said the Government will be prepared to provide catalytic capital as part of a US$5 billion (S$6.7 billion) blended finance platform to channel much-needed funding towards greening the region.

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