Singapore to Raise $5 Bln for Climate Change

Singapore to Raise $5 Bln for Climate Change

The Monetary Authority of Singapore (MAS)’s Managing Director Chia Der Jiun, in the Financing Asia’s Transition (FAST) Conference, highlighted the country’s investment raise of $5 billion towards the climate change action on Wednesday. In emphasizing the need for financing the climate change action, Jiun stated about the coordinated effort at both global and regional levels. …

The post Singapore to Raise $5 Bln for Climate Change appeared first on Business Tabloid.The Monetary Authority of Singapore (MAS)’s Managing Director Chia Der Jiun, in the Financing Asia’s Transition (FAST) Conference, highlighted the country’s investment raise of $5 billion towards the climate change action on Wednesday.

In emphasizing the need for financing the climate change action, Jiun stated about the coordinated effort at both global and regional levels. At COP28 2023, a climate-focused fund with $30 billion was launched in the United Arab Emirates called ALTÉRRA.

He said Singapore will raise the capital of $5 billion with its international partners focused on the Asia Pacific region.

A month ago, Gillian Tan, Sustainability Chief of the government body said in a national forum, Singapore is well-placed to catalyze sustainable and transition financing needs for the region and globally.

Tan also highlighted the various initiatives taken by the country concerning