Insurers play increasingly crucial role in green finance, sustainability

Insurers provide coverage for emerging green infrastructure. ST PHOTO: LIM YAOHUI
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SINGAPORE - Insurance companies have become increasingly important players in the world of green finance - a sector that has long been dominated by banks.

While banks still provide the bulk of the funds, insurers have a key role to play as the world grapples with climate change, said Mr Daniel Wang, the Monetary Authority of Singapore's (MAS) executive director of insurance.

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