Monetary Authority Of Singapore And People’s Bank Of China Strengthen Cooperation In Transition And Adaptation Finance At The 4th Singapore-China Green Finance Taskforce Meeting

The Monetary Authority of Singapore (MAS) and the People’s Bank of China (PBC) held the 4th annual Singapore-China Green Finance Taskforce (GFTF) meeting in Nanning, China on 17 September 2026. The meeting, co-chaired by MAS Chief Sustainability Officer Ms Abigail Ng and PBC Director-General of the Research Bureau Mr Wang Xin, reaffirmed Singapore and China’s commitment to advance cooperation in sustainable finance and explore emerging areas of interest.   

2. The GFTF meeting brought together more than 50 regulatory and industry participants from both jurisdictions to discuss joint initiatives under its workstreams[1]. These include expanding collaboration on taxonomy interoperability beyond the mapping of green activities to cover transition activities, encouraging the issuance of green panda bonds, and leveraging technology to facilitate sustainable financing solutions. 

3. The meeting also discussed emerging areas of interest, including biodiversity credits, insurance solutions for climate resilience and adaptation and carbon markets.  Participants exchanged views on using insurance solutions in innovative blended finance structures to mobilise private capital for sustainable financing, and on fostering cross-border carbon market connectivity.

4. The GFTF also featured an industry-led Climate Adaptation and Resilience Roundtable, which discussed adaptation and resilience priorities across sectors, with a focus on climate-resilient infrastructure development. Participants shared practices in managing physical climate risks and discussed how adaptation and resilience projects could develop viable revenue models and attract commercial financing.

5. Ms Ng said, “As climate risks transcend borders, closer cooperation on sustainable finance is increasingly important for our economies and financial systems. The GFTF reflects the shared commitment of PBC and MAS to deepen cooperation between China and Singapore, and brings regulators and industry together to explore practical solutions through its workstreams and across emerging areas, including adaptation and resilience finance.” 

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[1] Current GFTF workstreams include (i) Standards led by PBC and MAS; (ii) Products led by China International Capital Corporation and Singapore Exchange; and (iii) Technology led by Beijing Green Exchange and MVGX.