As per reports, Asian economic platforms in Singapore and China have created a team that will help to improve the bilateral cooperation in green and transition finance, stated Cointelegraph. Reportedly, this step can help to collaborate with the public-private sector on a larger scale and create a low-carbon region in future.
Sources revealed that the Monetary Authority of Singapore (MAS), had announced its partnership with the People’s Bank of China (PBoC) to include the China-Singapore Green Finance Taskforce (GFTF), added Cointelegraph.
As reported by Cointelegraph, the public-private users from China and Singapore will join together“on concrete initiatives that will catalyse capital flows to support a credible and inclusive transition to a low carbon future for our countries and the region,” Gillian Tan, assistant managing director and chief sustainability officer, Monetary Authority of Singapore, commented further.
It is expected that the Green Finance Taskforce (GFTF) technology will also include MetaVerse Green Exchange, a licensed crypto exchange from Singapore, and Beijing Green Exchange, a Beijing municipal government-approved company, to help in the contribution towards sustainable finance adoption, Cointelegraph concluded.
(With insights from Cointelegraph)