In recent years, climate transition financing has become a critical focus for financial institutions worldwide, with only a fifth of the region’s financing gap having been filled with billions of dollars more to reach net zero.
However, this also comes with substantial challenges. One of the primary hurdles is the diverse and evolving nature of frameworks and standards across different jurisdictions.
“The various standards across jurisdictions can create difficulties in establishing a common standard to evaluate all $40b of assets we manage. Some standards may work in certain markets while others may not be as applicable,” David Chua, chief investment officer at Income Insurance told Singapore Business Review in a recent interview.
Aiming high
Income Insurance has set ambitious targets to invest SG$100m (US$74.6m) in community initiatives by 2030 and S$1b (US$746m) towards climate transition financing. This investment aims to drive decarbonisation efforts and promote environmentally resilient practices.
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