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Singapore’s MAS to implement new ESG disclosure requirements

The Monetary Authority of Singapore (MAS) is set to implement its new set of disclosure requirements from January 1, 2023. Fund managers will be required to disclose the investment strategies, metrics, and criteria of retail funds sold with the environmental, social, and governance (ESG) label, under MAS’ efforts to tackle greenwashing. MAS managing director Ravi Menon said the new guidelines would help retail investors better understand the ESG funds they invest in. The latest disclosure requirements on retail ESG funds in Singapore follow allegations of greenwashing hitting ESG investing overseas, with prominent financial institutions like Deutsche Bank and Goldman Sachs being investigated on the extent of how green their funds really were. Concerns over greenwashing have also been cited as one reason for record outflows from ESG funds in recent months.

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