The Monetary Authority of Singapore announces Multi-Jurisdiction Common Ground Taxonomy with China, EU. (Photo: MAS)
Singapore’s sustainable finance taxonomy is aligned with those of the European Union and China after it was launched at the end of last year.
This alignment will serve as a framework for investors to assess green economic activities across these three regions, helping facilitate cross-border sustainable capital flows and accelerate the transition to net-zero.
EU, China, Singapore establish multilateral standards
A Sustainable Taxonomy provides a classification list for financial institutions, businesses, investors, and certification bodies to guide sustainable investments. However, differing definitions across countries have often created barriers to cross-border investment. To address this, relevant organizations conducted a comprehensive comparison and developed a Common Ground Taxonomy (CGT).
