Regulators, industry groups may need to fill gap left by closure of climate banking alliance, say observers
In the absence of separate scrutiny, the onus also falls on banks themselves to be transparent
[SINGAPORE] With the closure of a global climate banking alliance, regulators or industry bodies in Singapore and the region may need to step up to fill the gap, sustainable finance observers told The Business Times.
This could include ensuring that financial institutions meet credible standards when setting net-zero pathways, as well as providing technical support and capacity building for transition planning – functions that the Net-Zero Banking Alliance (NZBA) used to fulfil.
Without the alliance to provide scrutiny, banks themselves must be transparent about their progress, added observers.
TRENDING NOW
Why US$100 oil, 5% US yields affect Singdollar, ringgit differently vs other Asean currencies
Anthropic to open Singapore office in October, sees it as ‘standout market’ for Claude
Singapore’s covered bond boom is largely a DBS story
Malaysian developer Eco World tops bids for Sin Ming area housing plot with S$1,612 psf ppr offer
