Strengthen Definitions: Singapore-Asia Taxonomy

Consistent, comparable and reliable sustainability data is needed to assess, manage and monitor climate opportunities and risks and safeguard against greenwashing risks.

The Singapore-Asia Taxonomy, which clarifies what activities can be considered green or transitioning towards green, was launched in December 2023. It is the first taxonomy globally to pioneer the concept of a “transition” category and can facilitate the flow of capital in a way that is contextualised for the Asian region.

The Monetary Authority of Singapore has mapped the Singapore-Asia Taxonomy to the International Platform for Sustainable Finance’s Common Ground Taxonomy (CGT). This enhances the interoperability of the Singapore-Asia Taxonomy alongside the EU Taxonomy and People’s Bank of China’s Green Bond Endorsed Project Catalogue.

This will support more cross-border sustainable financing solutions that are aligned with the Singapore-Asia Taxonomy and CGT.