Major Asian economies, China and Singapore, have set up a task force to deepen bilateral cooperation in green and transition finance. The move is aimed at facilitating greater public-private sector collaboration for a low-carbon future in the region.
The Monetary Authority of Singapore (MAS) announced the collaboration with the People’s Bank of China (PBC) in establishing the China-Singapore Green Finance Taskforce (GFTF). With GFTF, the duo aims to co-develop a set of financial standards, products, technologies and definitions to lower carbon footprints.