In December 2020, the Monetary Authority of Singapore (MAS) established supervisory expectations concerning effective governance, robust risk management, and substantial disclosure of environmental-related risks, through the issuance of three Guidelines on Environmental Risk Management for Financial Institutions (ENRM Guidelines), including banks, insurers and asset managers. GreenCo, specializing in ESG policy advisory and risk management, provides practical assistance by scientific tools and comprehensive research.

  • Governance

  • Risk Management

  • Investment Management

  • Disclosure

GreenCo’s policy research advisory

GreenCo supports Fund Managers’ board in setting up policy, committees and working team for regular review of climate related risks. Our opinion will be formed by making reference to recommended practices by related organisations, standard board and practical examples. We will also take into account the Fund Managers’ culture and practical expedients.

Tools and metrics

Fund managers should convey their exptactations on environmental risk management to sub-managers and advisors that investment management has been delegated to as asset manager retain overall responsibility for environmental risk management. Also, fund managers should put in place appropriate processes and procedures to assess and monitor the sub-managers or advisors’ compliance with expectation set.

  • Carbon footprints management. We can assist in data collection, Scope 1 and Scope 2 GHG emissions calculation (including underlying assumptions and limitations)
  • Development and maintenance of appropriate tools and metrics to assess and quantify climate-related risks.

Implementation timeline

Following the issuance of the consultation conclusions, the requirements for environmental-related risks will become effective after the following transition periods:

(i) a 18-month transition period for financial instituitions to comply with the Guidelines,

recognising that financial instituitions may face initial challenges in implementation and that the approaches to managing and disclosing environmental risks are expected to mature.


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