The Imperial College Business School and the Lee Kong Chian School of Business at Singapore Management University (SMU) announced the launch of the Singapore Green Finance Centre (SGFC), a research institute dedicated to green finance research and talent development.

On the research front, the SFGC aims to pursue foundational and multi-disciplinary research to help develop strategies for policy makers and financial institutions to support Asia’s transition to a low carbon future. Developed in collaboration with industry, research will cover three primary themes, including transforming businesses by integrating climate-related data and ESG considerations into decision-making, designing policies and new initiatives that can improve the efficiency of green finance markets, and catalysing the development of green finance solutions.

In terms of talent development, the SGFC will offer an array of courses across various levels, ranging from undergraduate to continuing and professional education, with the goal of equipping professionals with skills in climate finance and applied knowledge in Asian markets. The initiative aims to foster the development of a strong pipeline of green finance talent in Singapore and the region, which financial institutions and service providers can tap as they expand teams and deepen green finance capabilities.

The SGFC is supported by the Monetary Authority of Singapore (MAS) and nine founding partners, including Bank of China Limited, BNP Paribas, Fullerton Fund Management, Goldman Sachs, HSBC, Schroders, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, and UBS AG. It will be jointly led by Professor David Fernandez, Director of the Sim Kee Boon Institute for Financial Economics at SMU, and Dr Charles Donovan, Professor of Practice and Executive Director of the Centre for Climate Finance and Investment at Imperial College Business School.

Mr Ravi Menon, Managing Director of MAS, said:

“MAS is committed to developing a vibrant green finance research and talent ecosystem in Singapore, to support Asia’s transition to a low carbon future. The SGFC will be an important part of this ecosystem, bringing together two leading academic institutions in environmental science and financial economics. We are especially heartened by the strong industry support for the SGFC, which will be key to its success.”

Professor David Fernandez said:

“Asia must find a balance between sustainability and growth. The SGFC will act as a catalyst for embedding climate change into business strategy. We will quickly establish the new centre as the leading resource for financial education and impact research in the ASEAN region.”

Dr Charles Donovan said:

“Asia could lead the world into a low carbon future. Asian capital markets need to grasp the opportunity. The SGFC will bridge the gap between investors and policymakers on climate change. The world’s leading financial institutions see this opportunity – that’s why they are backing us.”