BIS and MAS Forge Partnership to Combat Climate Risks in Finance

The Bank for International Settlements (BIS) and the Monetary Authority of Singapore (MAS) have partnered to tackle climate risks in finance. Their collaboration focuses on regulatory frameworks, green finance, and climate-related financial disclosures, aiming to drive global efforts in mitigating financial sector climate risks.

The Bank for International Settlements (BIS) and the Monetary Authority of Singapore (MAS) have announced a strategic partnership aimed at addressing the growing climate risks within the financial sector. This collaboration underscores the increasing recognition of climate change as a critical financial stability issue and highlights the commitment of both organizations to spearhead efforts in mitigating these risks.

Partnership Objectives and Initiatives

The BIS and MAS partnership will focus on several key initiatives designed to integrate climate risk considerations into the financial system. These include the development of regulatory frameworks, the promotion of green finance, and the enhancement of climate-related financial disclosures.

A central component of this collaboration is the establishment of a Climate Risk and Sustainable Finance Centre within the BIS Innovation Hub in Singapore. This Centre will serve as a focal point for research, innovation, and capacity building in the areas of climate risk and sustainable finance. By leveraging the expertise and resources of both BIS and MAS, the Centre aims to develop cutting-edge solutions that address the complex challenges posed by climate change to the financial sector.

Innovative Approaches to Green Finance

In addition to regulatory and disclosure initiatives, the partnership will explore innovative approaches to green finance. This includes the use of fintech and digital solutions to enhance the efficiency and transparency of green finance markets. The BIS and MAS are particularly interested in the potential of blockchain technology and digital assets to support sustainable finance initiatives.

Enhancing Climate-Related Financial Disclosures

Improving the quality and consistency of climate-related financial disclosures is another priority for the BIS and MAS. The partnership will work towards aligning disclosure standards with international frameworks, such as the Task Force on Climate-related Financial Disclosures (TCFD). This will help ensure that financial institutions and investors have access to reliable and comparable information on climate risks.

Strengthening Global Cooperation

The BIS and MAS partnership also emphasizes the importance of global cooperation in tackling climate risks. By collaborating with other central banks, financial regulators, and international organizations, the BIS and MAS aim to foster a coordinated and effective response to climate change. This includes sharing best practices, conducting joint research, and developing harmonized regulatory approaches.


The partnership between BIS and MAS represents a significant step forward in addressing climate risks in the financial sector. By combining their expertise and resources, the two organizations are well-positioned to drive meaningful change and support the transition to a sustainable global economy.