MAS bolsters efforts on transition finance
Central bank issues new taxonomy and will work on phasing out coal
The Monetary Authority of Singapore is stepping up its efforts on promoting transition finance, including the launch of experiments with a new class of carbon credits and a new taxonomy for defining transition activities.
The MAS has launched a Transition Credits Coalition (Traction) and announced two pilots to study ways to accelerate the phasing-out of coal-fired power plants using “transition credits”, it said on December 4.
The central bank first proposed creating a new class of high
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