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Authorities should respond to the growing interest in Singapore in investing according to environmental, social and governance principles and take measures to improve ESG fund labelling, industry figures say.
The Monetary Authority of Singapore has called for asset managers to launch more ESG products in Singapore and a total of 22 ESG-related funds were authorised by the regulator in 2020.
However, some industry figures say that while Singapore’s regulator has introduced general environmental risk management guidelines, the lack of standardised ESG regulations and reporting in Singapore leaves local investors at greater risk of being exposed to so-called greenwashing, when funds are marketed to have better ESG credentials than they actually possess.
Singapore should seek to introduce an ESG fund label that…
