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.
I'm an expert in sustainable finance and green initiatives, and I have a deep understanding of the concepts discussed in the article about the SGFIN (Sustainable and Green Finance Institute) opening event. My knowledge extends to various aspects of green finance, sustainability, and the integration of environmental and social considerations into financial practices.
The SGFIN is a research institute established by the National University of Singapore (NUS) with the support of the Monetary Authority of Singapore (MAS). It focuses on developing research and capabilities in the field of green finance and sustainability. Let's break down the key concepts mentioned in the article:
SGFIN's Purpose and Objectives:
- SGFIN was officially launched to develop deep research and capabilities in green finance and sustainability.
- It aims to provide thought leadership and shape sustainability outcomes and policymaking in the real economy and financial sectors.
Key Areas of Focus:
- SGFIN is committed to advancing the sustainability sector through four main areas: education, data-driven sustainable finance research, impact measurement, and outreach.
Collaboration with Industry Partners:
- SGFIN collaborates with industry partners on research initiatives. These initiatives support the development of frameworks for transparent and standardized measurement of companies' environmental and social performance.
MAS' Finance for Net Zero Action Plan:
- Minister Lawrence Wong shared MAS' Finance for Net Zero Action Plan during the launch. This plan expands the focus from pure green finance to include transition finance, aiming to catalyze Asia's net-zero transition.
Scholarships for Sustainable and Green Finance Program:
- SGFIN announced new scholarships for its Master of Science in Sustainable and Green Finance program in collaboration with NUS Business School.
- The program is the first of its kind in Asia and aims to grow the capacity and talent pool in sustainable financing.
Testimonial from Program Participant:
- Ms Jorgina Chieng, a participant in the program, highlighted the unique opportunity it provides to gain specialized financial expertise and competencies for transitioning companies to greener and more sustainable financial models.
SGFIN Managing Director's Vision:
- Professor Sumit Agarwal, the Managing Director of SGFIN, expressed the institute's goal to be a knowledge hub of evidence-based sustainable practices. SGFIN aims to support companies in integrating sustainability into their business strategies.
Nurturing Talent in Green Finance:
- There is a focus on nurturing a deep pipeline of talent and leadership in green finance to position Singapore as a green finance hub in the region.
In summary, SGFIN is positioned to be a significant player in advancing sustainable finance, providing education, conducting research, and collaborating with industry partners to drive positive environmental and social impact in the financial sector.