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Singapore Industry Taskforce Consults on Second Version of Green and Transition Taxonomy

17 May 2022

The Green Finance Industry Taskforce (“GFIT”) convened by the Monetary Authority of Singapore, on May 12, 2022, published for public consultation, detailed thresholds and criteria for economic activities in the energy, transport, and real estate sectors.

The three sectors covered form part of the eight focus sectors that collectively account for close to 90% of ASEAN greenhouse gas emissions.

The proposed thresholds can classify an economic activity as green, amber, or red to differentiate its contribution to climate change mitigation.

  1. A green classification represents activities that contribute substantially to climate change mitigation by operating at net zero or are on a pathway to net zero by 2050.

  2. An amber classification represents transition and includes activities that are either transitioning towards green within a certain time frame, or facilitating significant emissions reductions in the short term.

  3. A red classification refers to harmful activities that are not currently compatible with a net zero trajectory.

Sectors

Energy

Transport

Real Estate

Agriculture and Forestry/Land Use

Real Estate

Transportation

Energy

Industrial

Information and Communications Technology

Waste/Circular Economy

Carbon Capture and Sequestration

 

 

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