The Monetary Authority of Singapore's (MAS) Sustainable Finance Advisory Panel (SFAP) discussed financing mechanisms to accelerate the phase-out of coal-fired power plants in Asia, decarbonize aviation and maritime transport, and support climate adaptation during its recent meeting. Key takeaways included the need for a comprehensive approach to coal transition, focusing on sustainable aviation and marine fuels, and promoting public-private collaboration. Less than 10% of global climate finance is currently allocated to adaptation efforts, highlighting the need for private financing solutions in this area.

Source: ESGNewsAsia