[Tree] Singapore's efforts to improve transition financing and manage climate-related risks amid global financial sector challenges, and the insurance sector in Macau preparing for the risk-based capital regime

Version 0.05 (2024-07-29 04:12:01.858000)

updates: The Monetary Authority of Singapore (MAS) has analyzed the impact of climate transition on the financial sector, finding that banks and insurers heavily invested in fossil fuels are likely to incur significantly higher financial losses in an abrupt transition. The sectors with the most climate transition risks for banks are coal, power plants using fossil fuels, and energy-intensive manufacturing of cement, iron, and steel. The building and construction sector is the largest concern for insurers. The People’s Bank of China and the Hong Kong Monetary Authority could benefit from emulating Singapore’s approach.

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Version 0.04 (2024-06-05 20:52:49.251000)

updates: Added information about the insurance sector in Macau preparing for the risk-based capital regime

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Version 0.03 (2024-04-07 15:18:58.418000)

updates: Integration of information about challenges faced by the financial sector in Latin America

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Version 0.02 (2023-12-04 09:58:37.229000)

updates: Announcement of new rules by Singapore's MAS to manage climate-related risks and support an orderly transition

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Version 0.01 (2023-12-04 08:52:09.183000)

updates: Discussion on the challenges and opportunities in financing the energy transition

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Version 0.0 (2023-12-02 13:34:28.882000)

updates:

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