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Issue 77: MAS works out cost of a late start; COP28’s wild kick-off

Kenneth Lim

Kenneth Lim

Published Fri, Dec 1, 2023 · 07:00 PM
    • Singapore’s banking sector could incur credit costs that are about 50 per cent higher if the world’s climate transition is an abrupt instead of smooth one, says the Monetary Authority of Singapore.
    • Singapore’s banking sector could incur credit costs that are about 50 per cent higher if the world’s climate transition is an abrupt instead of smooth one, says the Monetary Authority of Singapore. ILLUSTRATION: KENNETH LIM

    In this issue: Singapore’s financial regulator analyses the cost of climate transition under different scenarios, while allegations of conflicts of interest mar the start of the annual global climate conference.

    Singapore & S-E Asia

    Wait now, pay later

    Delaying climate action to 2026 instead of starting immediately could cost the Singapore financial system about 50 per cent more in the short and medium term, the latest analysis by the Monetary Authority of Singapore (MAS) has shown.

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