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SINGAPORE: Singapore’s first institute dedicated to research and development of talents in green finance was launched on Tuesday (October 13) by Imperial College Business School and Lee Kong Chian School of Business at Singapore Management University (SMU) .
The institute is supported by the Monetary Authority of Singapore and its launch was announced by the managing director of the central bank, Ravi Menon, during his keynote address at the Financial Times Investing for Good Asia conference.
“MAS is committed to developing a vibrant green finance research and talent ecosystem in Singapore,” he said.
“The Singapore Green Finance Center will be an important part of this ecosystem.”
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The financial center will build on the strengths of Imperial College and SMU in climate science, financial economics and sustainable investment, MAS said in a joint press release with the two schools.
The center will carry out research that helps “develop strategies for policy makers and financial institutions to support Asia’s transition to a low-carbon future.”
The research will focus on three main themes: transforming companies by integrating data related to climate and environmental, social and governance considerations in decision making; design policies and new initiatives that can improve the efficiency of green financial markets; and catalyze the development of green finance solutions.
The center also aims to equip professionals with new skills and develop a strong talent pool in green finance. It will offer courses at various levels: undergraduate, graduate, continuing education, and professional.
The institute will be co-chaired by Professor David Fernandez, director of the Sim Kee Boon Institute for Financial Economics at SMU, and Dr. Charles Donovan, professor of practice and executive director of the Center for Climate Finance and Investment at Imperial College Business School.
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The financial center will act as a catalyst to “incorporate climate change into business strategy,” said Professor Fernández, adding that Asia needs to find a balance between sustainability and growth.
The region could also lead the world to a low-carbon future, Dr. Donovan said.
“The Singapore Green Finance Center will bridge the gap between investors and policymakers on climate change. The world’s leading financial institutions see this opportunity, that’s why they stand behind us,” he said.
The Singapore Green Finance Center is supported by nine other founding partners. They are Bank of China, BNP Paribas, Fullerton Fund Management, Goldman Sachs, HSBC, Schroders, Standard Chartered Bank, Sumitomo Mitsui Banking Corp and UBS.
