Market participants have welcomed the Singapore-Asia Taxonomy, but whether it emerges as a widely used standard for transition finance, like the EU Taxonomy has been for green finance, remains to be seen.
What happened
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Why it matters
Singapore’s central bank has become among the first in the world to define what counts as “transition” investments with its recently launched sustainable finance classification system, or taxonomy.
Unlike green finance, where funds are used by projects already considered “green”, transition finance is intended to help more carbon-intensive sectors become greener over time.
There is growing international consensus that financing transition activities, beyond green activities, should be high on the agenda for emerging markets that are still highly dependent on high-emitting sectors and relatively young coal fleets.
This news brief is based on reporting published by Eco-Business on 2023-12-15. The original report is linked below.
Eco-Business
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