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20
April
2023
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17:00
Asia/Singapore
SGFIN Opening Event (2)
(From left) Chairman of NUS Board of Trustees Mr Hsieh Fu Hua, Deputy Prime Minister and Minister for Finance Lawrence Wong, NUS President Professor Tan Eng Chye and Professor Sumit Agarwal officiating the launch of SGFIN.
The Sustainable and Green Finance Institute (SGFIN), a research institute established by NUS with the support of the Monetary Authority of Singapore (MAS), was officially launched by Deputy Prime Minister and Minister for Finance, Mr Lawrence Wong on 20 April 2023.
SGFIN was set up to develop deep research and capabilities in the area of green finance and sustainability and providethought leadership and shape sustainability outcomes and policymaking across the real economy and financial sectors. SGFIN is committed to advancing the sustainability sector by focusing on four areas – education, data-driven sustainable finance research, impact measurement, and outreach.
SGFIN, which began operations in December 2021, collaborates with industry partners on research initiatives to support the development of frameworksfor more transparent and standardised measurement of companies’ environmental and social performance, and for benchmarking to best practices across industries.
NUS President, Professor Tan Eng Chye said, "SGFIN will play an important role in helping Singapore develop strong capabilities in green finance and in strengthening Singapore’s position as a global financial hub. The Institute’s emphasis on education and data-driven research approach will drive the development of innovative andprogressive financial solutions for sustainable development in Asia and the world. We thank our partners and collaborators who are working together with us to shape financial services for a more sustainable future.”
In sharing about MAS' Finance for Net Zero Action Plan during the launch, Minister Lawrence Wong said that Singapore needs robust research to support the development of green and transition finance and to support businesses in formulating new green products and solutions. He said, “This is why MAS has helped to set up three Centres of Excellence including SGFIN. Our COEs have been producing quality research, such as SGFIN’s research on a Sustainability Impact Measurement and Assessment Framework for corporates in Singapore and Asia."
SGFIN Opening Event (1)
Speaking at the launch of SGFIN, Deputy Prime Minister and Minister for Finance Lawrence Wong shared Singapore’s refreshed “Finance for Net Zero Action Plan” which sets out MAS’ plans to expand our focus from pure Green finance to include Transition finance to catalyse Asia’s net-zero transition.
Scholarships to boost demand for talent
To grow the capacity and talent pool in this area to meet the demand for leadership in sustainable financing in Singapore and beyond, SGFIN announced new scholarships for its Master of Science in Sustainable and Green Finance programme offered in collaboration with NUS Business School. Up to four scholarships will be awarded at the next intake in August 2023, and more scholarships will be available in the following years.
The MSc in Sustainable and Green Finance is the first programme of its kind in Asia. It is designed to enhance students’ impact on investment and business decisions through experiential learning and exposure to the financial and corporate sectors in the region.
Ms Jorgina Chieng, who is part of the programme’s first cohort that started in August 2022, said that it provides students from various backgrounds a unique opportunity to gain specialised financial expertise and competencies required to help companies transition from conventional togreener and more sustainable financial models.
She added, “What has impressed me the most about the programme are the opportunities to engage in practical work with real-life case studies and projects, specially designed to focus onthe Asian and local context. Additionally, our professors are equally committed to the cause and very enthusiastic about helping us apply the principles that they taught. Wehave just started working on our capstone project with an external organisation to help them with a real-life sustainability problem, and I can already see the practicalapplication of the theories and concepts learned in class.”
Ms Chieng, who has more than 15 years of experience in the banking and financial services sector, is confident that the MSc in Sustainable and Green Finance programme offers professionals like herself anopportunity to keep their skills relevant so that they can support companies in making a more positive impact on the community and the environment.
SGFIN Opening Event (4)
Professor Sumit Agarwal, Managing Director of SGFIN said it aims to be a knowledge hub of evidence-based sustainable practices that supports companies in the integration of sustainability into their business strategies and provide green finance talents with a strong focus on Asia.
SGFIN Managing Director, Professor Sumit Agarwal said that as Singapore looks to position itself as a green finance hub in the region, there is a dire need to nurture a deep pipeline of talent and leadership in this area.
“SGFIN is contributing to this cause with a calibrated approach in its education efforts. The development of relevant expertise and innovative solutions to drive transformation across corporate and financial sectors through SGFIN will advance the understanding and adoption of best sustainable and green financing practices,” said Prof Agarwal.
SGFIN Opening Event (3)
Deputy Prime Minister and Minister for Finance Lawrence Wong (centre), together with Chairman of NUS Board of Trustees Mr Hsieh Fu Hua, NUS President Professor Tan Eng Chye, members of the NUS Board of Trustees, and SGFIN faculty and industry partners.
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Sustainable and Green Finance Institute (SGFIN)
The Sustainable and Green Finance Institute (SGFIN) is a research institute established by the National University of Singapore (NUS) with the support of the Monetary Authority of Singapore (MAS) It was officially launched by Deputy Prime Minister and Minister for Finance, Mr. Lawrence Wong, on April 20, 2023 SGFIN aims to develop deep research and capabilities in the area of green finance and sustainability. It focuses on four main areas: education, data-driven sustainable finance research, impact measurement, and outreach.
Objectives of SGFIN
SGFIN is committed to advancing the sustainability sector by collaborating with industry partners on research initiatives. It aims to support the development of frameworks for more transparent and standardized measurement of companies' environmental and social performance, as well as benchmarking best practices across industries.
Collaboration with Industry Partners
SGFIN collaborates with industry partners to support research initiatives and the development of sustainable finance frameworks. The institute works with these partners to develop frameworks for measuring companies' environmental and social performance and to benchmark against industry best practices.
Master of Science in Sustainable and Green Finance Program
SGFIN, in collaboration with NUS Business School, offers a Master of Science (MSc) in Sustainable and Green Finance program. This program is the first of its kind in Asia and aims to enhance students' impact on investment and business decisions through experiential learning and exposure to the financial and corporate sectors in the region.
Scholarships for the MSc in Sustainable and Green Finance Program
SGFIN announced new scholarships for its MSc in Sustainable and Green Finance program. Up to four scholarships will be awarded at the next intake in August 2023, with more scholarships becoming available in the following years. These scholarships aim to boost the demand for talent in the field of sustainable financing and support the development of leadership in sustainable financing in Singapore and beyond.
Role of SGFIN in Singapore's Green Finance Hub
SGFIN plays an important role in helping Singapore develop strong capabilities in green finance and strengthening its position as a global financial hub. The institute's emphasis on education and data-driven research drives the development of innovative and progressive financial solutions for sustainable development in Asia and the world.
Conclusion
The Sustainable and Green Finance Institute (SGFIN) is a research institute established by NUS with the support of MAS. It focuses on developing research and capabilities in the area of green finance and sustainability. SGFIN collaborates with industry partners, offers a Master of Science program in Sustainable and Green Finance, and provides scholarships to boost talent in sustainable financing. The institute aims to drive the development of innovative financial solutions for sustainable development in Asia and beyond.
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