MAS to cut exposure to coal and oil miners; issues guidelines on ESG retail funds

The Monetary Authority of Singapore (MAS) is walking away from equities and corporate bonds of companies that derive more than 10% of their revenues from thermal coal mining and oil sands activities.

“Such companies will be exposed to significant risks of asset stranding as the world increasingly shifts towards the use of cleaner or renewable sources of energy,” says MAS at the release of its second annual sustainability report on July 28.

Managing director Ravi Menon is confident MAS will hit this target “well in advance” of FY2030 and that “there will be no sacrificing returns”.

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