Singapore Central Bank Places $1.8 Billion With Funds for Green Investments

Singapore
FILE PHOTO: A view of the Monetary Authority of Singapore’s headquarters in Singapore June 28, 2017. REUTERS/Darren Whiteside

SINGAPORE ⸺ Singapore’s central bank has placed $1.8 billion with five asset managers as part of moves to protect its portfolio from climate change risks and aid the city-state’s efforts to promote environmentally sustainable projects.

“We aim to reduce risks to the portfolio across different climate scenarios, seize investment opportunities from the transition to a lower carbon future and support the transition of portfolio companies,” Ravi Menon, managing director of the Monetary Authority of Singapore (MAS) told a news conference on Wednesday.

The MAS, which manages the country’s official foreign reserves, said the deployment of the funds was part of its green investment program.

Reporting by Anshuman Daga; Editing by Kim Coghill; Reuters

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