Two universities have collaborated to launch the Singapore Green Finance Center, an institute that will conduct research and develop talent for financial institutions to leverage as Asia emerges as a green finance hub.
The research institute, which has been launched by London's Imperial College Business School and Singapore Management University's Lee Kong Chian School of Business, is backed by the Monetary Authority of Singapore and nine founding partners: Bank of China, BNP Paribas, Fullerton Fund Management, Goldman Sachs, HSBC, Schroders, Standard Chartered Bank, Sumitomo Mitsui Banking Corp. and UBS.
The two academic institutions, MAS and the supporting financial institutions will form a 12-member advisory board for Singapore Green Finance Center, a news release said Tuesday.
The center will pursue "foundational and multi-disciplinary research to help develop strategies for policymakers and financial institutions to support Asia's transition to a low carbon future," with financial industry participation to ensure "applicability and relevance," the joint release said.
David Fernandez, professor and director of the Sim Kee Boon Institute for Financial Economics at Singapore Management University, and Charles Donovan, professor of practice and executive director of the center for climate finance and investment at Imperial College Business School, will be co-leaders of SGFC.
Mr. Fernandez said the newly launched center will act as a "catalyst for embedding climate change into business strategy" as Asia works to balance sustainability and growth.
Mr. Donovan predicted that Asia "could lead the world into a low carbon future," while the SGFC will help bridge the gap between investors and policymakers on climate change.
Meanwhile, the center will offer courses at various levels — from undergraduate through continuing and professional education — to develop "a strong pipeline of green finance talent" to meet the needs of Singapore and the region, the release said.