Singapore is a booming economy and currently a major name in the finance markets. Singapore is a major financial hub with being home to major financial firms in the game.
Singaporean government has decided to promote green and clean economy by offering out policies and loans. As the world is moving towards a green and clean approach, Singapore doesn’t want to be left behind in this race of green reform. The green financing initiative is a commendable effort, given the increasing need to build more environmentally friendly buildings and infrastructure to mitigate the impact of climate change said Tai Lee Siang, executive director of BuildSG at the Building and Construction Authority. Also, Soilbuild Group Holdings Ltd., announced the completion of a three-year Green Development Club Loan from HSBC Singapore and OCBC Bank, amounting to 179.66 million USD. This green financing by the government is also expected to attract new investors and new financing to the economy as the corporates are seeing a growing trend of integrating sustainability into their operational methods. With MNCs, consumers, governments, and investors turning their attention to sustainability, green loans are shifting the way in which businesses are viewed by their stakeholders.
This move can prove especially beneficial to the financial trading markets with more opportunity to grow in the sustainability with the help of the government policy, more and more firms will want to associate themselves with this government aid and make their names in the ever growing and currently most popular clean and green earth approach.