Singapore: Banks, asset managers and insurers to implement Monetary Authority of Singapore's (MAS) ESG Guidelines
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Banks, asset managers and insurers have 18 months to introduce and implement environmental risk management practices in accordance with new Guidelines on Environmental Risk Management.
The Guidelines were issued by the Monetary Authority of Singapore on 8 December 2020. This note looks at the requirements in the Guidelines and suggests some preliminary steps that these financial institutions should start to take in order to ready themselves for compliance.