This comprehensive session is designed to equip you with a deep understanding of the Singapore-Asia Taxonomy (SAT) and its strategic applications, from the end-user perspective. The workshop is ideal for professionals of all levels from Financial Services, Corporates and Ecosystem Enablers, offering valuable insights into how the SAT can be effectively utilised and integrated within various domains.
Welcome speakers and attendees and introduce SSFA and workshop’s outline by Kavitha Menon, Director, SSFA
Opening address by Brian Thung, EY ASEAN Financial Services Leader
14:10 – 14:30
(20 min)
Overview of the Singapore-Asia Taxonomy (SAT)
Speaker: Sylvia Chen, Head of ESG South Asia, Amundi and SSFA Taxonomy Workstream Co-lead
Overview of the SAT, its background, and value proposition in the field of sustainable finance both worldwide and across the regional landscape
Frame the relevance of SAT adoption for ASEAN and beyond
14:30 – 15:05 (35 min)
Leveraging the SAT to Empower Sustainable Finance Ambitions
Speaker: Aloysius Fua, EY ASEAN Sustainable Finance Lead
Explore how FIs can leverage the SAT to achieve portfolio alignment with net-zero goals and unlock opportunities in sustainable finance
Explore how corporates can leverage the SAT framework to demonstrate their green credentials and unlock access to sustainable capital
Explore how ecosystem enablers may facilitate and support the effective adoption and integration of the SAT across various stakeholders within the financial and corporate landscape
15:05 – 15:45 (40 min)
Panel 1 Discussion: Adoption of SAT for Financial Institutions (FIs)
[Asset Manager Perspective] Sylvia Chen, Head of ESG South Asia, Amundi, and SSFA Taxonomy Workstream Co-lead
[Bank Perspective] Eng Sok Hui, Head of ESG (Built Environment), Sector Solutions Group, Wholesale Banking, UOB
[Bank Perspective] Kalpana Seethepalli, Director of ESG, Asia Pacific, Middle East and Africa, Deutsche Bank
[Insurer Perspective] Winnie Tan, SVP Sustainability, Great Eastern
This panel aims to explore how FIs adopting the SAT, addressing its complexities, and sharing their implementation strategies, practical challenges, and best practices
Discussion Points
How are FIs practically using the SAT to develop their transition finance framework, define transition activities and ensure alignment with sustainability goals?
How does the integration of SAT enhance risk management, particularly in credit and investment risks? Provide examples of how SAT has influenced decision-making processes for risk assessments and mitigation strategies.
In what ways has the SAT enhanced transparency and consistency in sustainability disclosures?
How do FIs incorporate the SAT criteria when designing new sustainable loans, bonds and other financial instruments, and what challenges do they face in aligning with the thresholds?
What are some strategies for addressing interoperability challenges between the SAT and other taxonomies, and how can FIs ensure consistency and compatibility across different frameworks?
15:45 – 15:55 (10 min)
Q&A session with FI panellists, moderated by Praveen Tekchandani, Partner, EY ASEAN Climate Change & Sustainability Services Co-lead
15:55 – 16:15 (20 min)
Tea Break
16:15 – 16:55 (40 min)
Panel 2 Discussion: Driving Adoption of the SAT through Ecosystem Enablers
Moderator: Priyaka Dhingra, Director, EY Climate Change & Sustainability Services
Panellists:
Andy Yap, Partner, Sustainable Finance & Carbon Markets, ERM
This panel aims to explore various solutions and support offered by ecosystem enablers to address key challenges and encourage the adoption of the SAT among FIs and corporates.
Discussion Points
What role do ecosystem enablers play in supporting organisations with the practical implementation of the SAT? Share examples of tools, resources, or frameworks that have been particularly effective in facilitating this process.
How are ecosystem enablers collaborating with stakeholders to enhance the understanding and application of the SAT? What efforts are being made to engage different sectors in adopting the SAT?
How are ecosystem enablers addressing challenges related to data quality and data availability in the context of the SAT? What measures and metrics are utilised to improve the reliability and accessibility of data needed for SAT compliance?
What strategies are ecosystem enablers using to foster interoperability between the SAT and other taxonomies, and how do these strategies address challenges in standardising transition principles across markets?
Looking ahead, what is the outlook for the SAT in the coming years, and what role will ecosystem enablers play in its evolution and broader adoption? How can these enablers continue to drive progress and address emerging challenges?
16:55 – 17:05 (10 min)
Q&A with Ecosystem Enabler panellists, moderated by Priyaka Dhingra, Director, EY Climate Change & Sustainability Services
17:05 – 17:20 (15 min)
Promoting adoption of the SAT through SSFA’s Taxonomy Workstream
Speaker: Jeong Yoon Mee, Head, Sustainability Office, Global Wholesale Banking, OCBC, and SSFA Taxonomy Workstream Co-lead
Introduce SSFA’s Taxonomy Workstream, its focus, roadmaps and work plans
Sector-specific and sector-agnostic focused SAT implementation goals
17:20 – 17:30
(10 min)
Networking and End of Workshop
Synopsis:
The Monetary Authority of Singapore (MAS) introduced the Singapore-Asia Taxonomy (SAT) in December 2023, establishing a clear and rigorous classification system to define “green” and “amber” (i.e., transition) activities within the financial sector. This initiative is in line with Singapore’s commitment to net-zero emissions by 2050 and the objectives of the Singapore Green Plan 2030. The SAT provides a foundational framework to channel investments into environmentally sustainable projects, ensuring that financial entities and investors have a unified guide to support the climate transition with integrity.
The SAT offers a robust and transparent mechanism for financial institutions (FIs) to identify companies that are either net-zero or transitioning towards greener practices. By adopting the SAT, businesses can prioritise investments that have a significant environmental impact and credibility in their transition efforts, thereby fostering green innovation and attracting sustainability-focused investors in the region. Additionally, the Taxonomy enhances corporate transparency in environmental reporting, mitigates the risk of greenwashing, and bolsters corporate reputation, ultimately strengthening stakeholder relationships and unlocking more sustainable capital flows.
For more information, please contact the SSFA Secretariat Team (info@ssfa.org.sg)
