Commentary

Singapore faces tough challenges in green financial hub ambitions

Singapore was ranked 4th in the latest Global Financial Centres Index, but only 16th on the Global Green Finance Index.ST PHOTO: LIM YAOHUI

SINGAPORE - As the world economy gradually gets rewired for net-zero carbon targets, global financial centres such as Singapore face a formidable challenge to carve out a similar niche in the green future.

Attracting new listings of green bonds in the local capital market is important but will not be enough for Singapore to become a leading hub for sustainable finance.

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