Fintech and sustainability at the heart of UK and Singapore’s Financial Dialogue

finextra.com:

The countries discussed the importance of scaling the transition to net zero financing and addressing emission reductions. Singapore shared projects that aim to address energy transitions in Asia.

The previous UK-Singapore Dialogue took place in November 2022 and discussed the Fintech Bridge to bolster cooperation and growth in the countries’ fintech sectors.

Both nations agreed to support global sustainability standards and reporting requirements, along with support of the International Sustainability Standards Board (ISSB). They also conferred on the urgency of prioritising ESG and sharing ESG data.

On nature and biodiversity loss, both countries spoke on the need for more attention to the issue and introduced the launch of a joint research project on nature-related financial risks in Southeast Asia between Cambridge’s Institute for Sustainability Leadership and the Singapore Green Finance Centre.

Laimonas Noreika, CEO of HeavyFinance, stated: “Sustainable finance should be at the heart of government and business actions, and it is encouraging to see international discussions around transition finance and international standards as part of this. Collaboration in economic emission reductions is an important step for global governments to improve their climate actions, but it is important that real action is taken off the back of it to ensure a positive climate impact. Sustainable investments such as Article 9 funds is one option that can ensure positive climate action, giving support and funding to carbon reduction projects.”

The Dialogue also focused on both countries’ respective developments in digital assets. The UK and Singapore welcomed global standards on crypto and Financial Stability Board (FSB) guidance on