As Singapore looks to become a green finance hub, the Government is pumping in $35 million to help those in the financial services sector pick up new skills to better serve sustainable financing demands in the region.
More than 50,000 people in jobs from sales to risk, compliance and legal, will have new sustainable finance-related job tasks added to their critical work functions, from a "moderate to high degree", according to a study commissioned by the Monetary Authority of Singapore (MAS) and Institute of Banking and Finance Singapore (IBF).
This comes as the sustainable finance market in Asean is expected to amount to $4 trillion to $5 trillion in the next decade, with financial institutions playing a key role in helping to catalyse the transformation needed.
The largest demand drivers behind the region's sustainable financing needs are the energy, and construction and real estate sectors, such as deploying renewable energy, electricity distribution and the greening of commercial buildings.
Speaking at the launch of the Sustainable Finance Jobs Transformation Map at the Ecosperity conference on April 17, Minister of State for Trade and Industry Alvin Tan said: "If Singapore is to be Asia's leading sustainable finance hub, we must equip our workforce to be ahead of complex and fast-evolving sustainable finance-related issues and opportunities."
Therefore, Singapore's financial services sector workforce should aim to acquire new skills within the next three years to seize these available opportunities, MAS, IBF and Workforce Singapore said on April 17.
Esta historia es de la edición April 18, 2024 de The Straits Times.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición April 18, 2024 de The Straits Times.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor? Conectar
LAXON WINS, BUT THE EQUINE VERSION
Unlike his famous namesake, Darci Brahma 3YO just tasted his first success in Malaysia
STARS ALIGN FOR RIYADH
Singapore mountain biker takes historic World Cup silver after rivals falter
EMBRACE CHANGE AND FUTURE: KLOPP
In his farewell speech at Anfield, he urges fans to back Slot as he becomes one of them
MAJOR MOMENT EARNED
Schauffele holds his nerve to win in Valhalla and end 2-year title drought
MOMENT OF TRUTH FOR NEW APPROACH
Floorball men can show at world qualifiers results of overhauled training methods
NO GUINEAS, BUT GREATER GOOD FOR GREATHAM BOY
Fitzsimmons vindicated in decision to steer 3YO from G2 feature towards softer option
S'pore firms continue to expand in China, driven by long-term potential
EnterpriseSG has helped businesses grow there through 300 projects over past 2 years
Japan's inexperienced investors fall for scams 'like babies'
As Japan's stock market booms, something else is also on the rise in the nation: investment scams.
CHIJ celebrates 170 years of teaching generations of girls
Second-oldest girls' school holds big bash for staff and students, past and present
Test kits fly off the shelves as Covid-19 cases spike
Pharmacies report surge in demand for kits, masks as S'pore faces new infection wave