Some of the shortlisted solutions are really interesting: an online do-it-yourself platform for small and medium enterprises to assess their environmental impact easily and aﬀordably; an AI platform matching institutional investors with a range of social and environmental business opportunities; and an API-based modelling engine that utilises existing climate-related data (e.g. weather pattern predictions, sea level, etc.) to facilitate investment decisions. BUILDING KNOWLEDGE AND CAPABILITIES IN SUSTAINABLE FINANCE  The fourth thrust of our Action Plan is to build knowledge and capabilities in sustainable finance. We are encouraging financial institutions in Singapore to grow their sustainable finance teams here. Global banks and asset managers like ING, Standard Chartered and Aberdeen Standard Investments have dedicated Asia-Pacific sustainable finance teams based in Singapore. Deutsche Bank has recently located its Asia-Pacific ESG Head in Singapore; Fidelity Global’s Head of Stewardship and Sustainable Investing is also based here. We are seeking to anchor centres of excellence, think tanks and research networks. MAS is bringing together experts in our universities and financial institutions to undertake sustainability research tailored for Asia’s needs. https://www.mas.gov.sg/news/speeches/2020/harnessing-the-power-of-finance-for-a-sustainable-future  10/13  14/10/2020  “Harnessing the Power of Finance for a Sustainable Future”- Keynote Speech by Mr Ravi Menon, Managing Director, MAS, at the Finan…  Today, I am pleased to announce the launch of the Singapore Green Finance Centre— a collaboration between Singapore Management University (SMU) and Imperial College Business School (Imperial). The Centre will conduct rigorous research tailored to the Asian context, synergising SMU’s strength in financial economics and Imperial’s forte in climate finance.

The Centre will also groom a pipeline of talent in green finance across the career spectrum— from the undergraduate to the executive education levels. The Centre has strong support from our financial industry, which will play a key role in steering the Centre’s focus towards market-oriented outputs. I would like to thank the founding partners— Bank of China Limited, BNP Paribas, Fullerton Fund Management, Goldman Sachs, HSBC, Schroders, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, and UBS AG. MAS will continue to promote a vibrant green finance research and talent development ecosystem. We will look to anchor more centres of excellence with diﬀerent strengths and focus areas — to provide a diversified pool of research and talent in green finance. CONCLUSION People across the world – and in Singapore – are increasingly concerned about climate change and environmental degradation. And they want to do something about it. Climate change is becoming a rallying cry to inspire people to step up to a higher cause, to take collective action for the common good of our planet. The looming climate crisis poses not just an existential challenge to be overcome but also an economic opportunity to be seized. The coming revolution in sustainability has the potential to remake the world, cleaner and greener, creating new value and new jobs. Let us harness the power of finance to help create such a world, and a sustainable future.