Ravi Menon the managing director of the Monetary Authority of Singapore (MAS) announced in July 2019 that the regulator was working to develop "a comprehensive, long-term strategy to make sustainable finance a defining feature of Singapore's role as an international financial centre.”
With this, Singapore became a leader in bringing ESG matters to the fore in bank regulation. Since then, sustainable finance and environmental risks have come into sharp focus among investors and regulators worldwide. But some question whether the social and governance aspects of ESG have received adequate attention.
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