Monetary Authority of Singapore

Climate Impact & Sustainability Data (2021-06 to 2022-06)

Total Carbon Emissions:10,007 tCO2e/year (FY2021)

Scope 1 Emissions:88 tCO2e/year (FY2021)

Scope 2 Emissions:3,849 tCO2e/year (FY2021)

Scope 3 Emissions:6,070 tCO2e/year (FY2021)

Reduced Scope 2 emissions by 23% from its peak in 2013
Introduced NEWater in our overall water reticulation system, reducing potable water usage.
Maintained GreenMark certification (Platinum) since 2015.

Launched Project Bring-Your-Own (BYO), with 47% of MAS staff pledging to stop using single-use items.
Launched inaugural sustainability sentiment survey to understand staff attitudes towards sustainability.
MAS Recreation Club formed a Sustainability Committee to implement ground-up initiatives.

Established the Sustainability Group, headed by a Chief Sustainability Officer.
Aligned sustainability reporting with TCFD recommendations.
Set up the Green Finance Steering Committee (GFSC) as the key decision-making body for all green finance and sustainability initiatives.

Long-term Goals:

Net-zero emissions target for physical operations at the earliest possible timeframe

Medium-term Goals:

Reduce Scope 1, Scope 2 and Scope 3 (business air travel) emissions by 30% by FY2030
Reduce Scope 3 (outsourced currency operations) emissions by 20% by FY2030
Reduce WACI of the equities portfolio by up to 50% by FY2030

Short-term Goals:

Reduce Scope 1, Scope 2 and Scope 3 (business air travel) emissions by 17.5% by FY2025
Reduce Scope 3 (outsourced currency operations) emissions by 10% by FY2025
Improve Energy Utilisation Index and Water Efficiency Index by 10%, and Waste Disposal Index by 30% by 2030

Reducing Scope 3 emissions (business air travel and outsourced currency operations)
Data gaps and evolving climate risk frameworks
Greenwashing risks

Developed a carbon budget framework and guidelines on delegation sizes for business air travel.
Working with currency vendors to reduce emissions from currency production and operations.
Promoting e-payments and encouraging the use of fit notes to reduce demand for new currency notes.
Promoting globally consistent, comparable and reliable sustainability disclosures.
Developing a taxonomy to define green and transition activities.

Rise in cost for outsourced currency operations due to policy changes, carbon taxes, and market shifts

Capturing upside opportunities from climate change through investments in climate and environmentally conscious investment strategies

Frameworks Used: TCFD

Certifications: GreenMark (Platinum)