The Monetary Authority of Singapore (MAS) and the People’s Bank of China (PBC) have announced the establishment of the China-Singapore Green Finance Taskforce (GFTF).

The GFTF will deepen bilateral cooperation in green and transition finance between Singapore and China and facilitate greater public-private sector and will explore initiatives aimed at scaling up green and transition financing flows between Singapore, China and the region.

Work will commerce on taxonomies and definitions to achieve interoperability between the Singapore and China taxonomies, and another areas will be the strengthening of the sustainability bond market connectivity between China and Singapore, including the issuances of and mutual access to green and transition bond products in China and Singapore.

The Metaverse Green Exchange and Beijing Green Exchange will establish a workstream that leverages technology to facilitate sustainable finance adoption, including piloting of digital green bonds with carbon credits.

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