Singapore MAS Tharman Shanmugaratnam on Limiting Refinancing for Coal Power Projects: Largest Source of Electricity Generation & Industry Use in Asia, Progressive Coal Phase-Out & Shift to Cleaner Fuels without Major Disruption to Economies
4th March 2023 | Singapore
Singapore central bank Monetary Authority of Singapore (MAS) Tharman Shanmugaratnam (Senior Minister & Minister in charge of MAS) reply to questions on limiting refinancing for coal power projects: “It is the largest source of electricity generation and a significant fuel for industrial use in Asia. Financing should aim at supporting the progressive phase-out of coal and shift to cleaner fuels without major disruption to the developing economies in the region. See below for MAS statement
“ Largest Source of Electricity Generation & Industry Use in Asia, Progressive Coal Phase-Out & Shift to Cleaner Fuels without Major Disruption to Economies “
MAS Tharman Shanmugaratnam on Protection for Short-Selling Attacks
Reply to Parliamentary Questions
3rd March 2023 – To ask the Prime Minister whether MAS will consider placing limits on local banks refinancing coal power projects overseas.
Answer by Mr Tharman Shanmugaratnam, Senior Minister and Minister in charge of MAS:
1. Financing the progressive decarbonisation of hard-to-abate sectors and energy sources is a key priority globally and in Asia.
2. With regard to coal, we start from a situation where it is the largest source of electricity generation and a significant fuel for industrial use in AsiaInternational Energy Agency, Coal in Net Zero transitions, November 2022.. Financing should aim at supporting the progressive phase-out of coal and shift to cleaner fuels without major disruption to the developing economies in the region.
3. MAS’ guidance to banks is that such financing should be on the basis of credible transition plans that mitigate their exposures to environmental risks and are aligned with the Paris Agreement goals.
Sign Up / Register
Caproasia Users
- Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2024 Investment Day
- March 2024 - Hong Kong
- March 2024 - Singapore
- July 2024 - Hong Kong
- July 2024 - Singapore
- Sept 2024 - Hong Kong
- Sept 2024 - Singapore
- Oct 2024 - Hong Kong
- Nov 2024 - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Institutional Investor Summit
- The Investment / Alternatives Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
