Bloomberg | Bloomberg | Getty ImagesSingapore, a tiny city-state with an import-dependent economy, is especially vulnerable to rising sea levels, heat waves and other adverse effects of climate change.
Around the globe, financing for climate adaptation has traditionally lagged behind mitigation investments that are focused on slowing or stopping the rise in fossil fuel emissions.
Singapore's climate challengesIn 2019, Singapore prime minister Lee Hsien Loong said climate change was a matter of "life and death" for the city-state.
An initiative of London's Imperial College and Singapore Management University, SGFC was launched in 2020 to advance climate financing solutions.
In 2020, Vena Energy became the first Singapore-based company to issue green bonds in U.S. dollars with a $325 million five-year green bond aimed at refinancing existing corporate loans for green projects.
Persons:
Xinying Tok, Lee Hsien Loong, Grace Fu, Emirhan Ilhan, SGFC, issuances, Vena
Organizations:
Bloomberg, Getty Images, Singapore, Carbon Trust, National University of Singapore Business School, Green Finance Institute, City State, Singapore Green Finance, London's Imperial College, Singapore Management University, Monetary Authority of, Insurance, Vena Energy, Resources
Locations:
Getty Images Singapore, Singapore, Southeast Asia, City, Monetary Authority of Singapore