Gustavo Bernal Torres
Singapore Issues ESG Funds Disclosure and Reporting Guidelines
The objective of the new circular is to mitigate the risk of greenwashing by facilitating greater comparability in the disclosures made by retail ESG funds.
The Monetary Authority of Singapore, which is Singapore’s central bank and integrated financial regulator, issued a Circular on 28 July 2022 detailing the Disclosure and Reporting Guidelines for Retail ESG Funds. The new guidelines will take effect on 1 January 2023.
The new disclosure and reporting guidelines for Retail ESG Funds by MAS is a very important step in combating greenwashing and further build confidence in the tiny, prosperous country’s financial system and serves as a model for other countries to emulate.