Singapore and UK strengthen collaboration in sustainable finance

The countries vowed to bolster financing for net zero agenda.

Singapore and the UK have deepened their collaboration in sustainable finance, fintech, non-bank financial intermediation (NBFI), and cross-border payment connectivity.

On sustainable finance, the countries committed to bolstering financing for net zero agenda.

The parties also plan to implement international standards on sustainability-related disclosures. 

They also revealed plans to develop and finance green finance and energy transition projects in Asia.

On fintech, both countries discussed financial stability risks, cybersecurity risks, AI supervision in finance, and initiatives in tokenisation and distributed ledger technology (DLT).

In addition, both countries are committed to the G20's Roadmap for Enhancing Cross-Border Payments. They are also looking to finalise international policies on margining practices and NBFI leverage, to implement these policies domestically, and to address NBFI vulnerabilities.