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China and Singapore Launch Green Finance Taskforce

China and Singapore Launch Green Finance Taskforce

(25 April 2023 - Asia) The People's Bank of China (PBC) and the Monetary Authority of Singapore (MAS) have declared the formation of the China-Singapore Green Finance Taskforce (GFTF). 

Its purpose is to strengthen the collaboration between both countries in the field of green and transition finance.

The GFTF will be co-headed by Assistant Managing Director (Development and International) and Chief Sustainability Officer of MAS, Gillian Tan, and the Chair of the China Green Finance Committee, Dr. Ma Jun.

The taskforce members will consist of senior representatives and sustainable finance professionals from institutions and green fintech firms from China and Singapore.

The GFTF aims to enhance the public-private sector partnership and fulfil the needs of Asia as it shifts towards a sustainable future with low carbon emissions.

In the launch meeting held last week, the GFTF collaborated on future initiatives ramping up green and transition financing flows between China, Singapore and the rest of Asia.

Three primary workstreams which will be focused on are: taxonomies and definitions; products and instruments; and technology.

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