Professional skills set out for roles in sustainable finance in Singapore

Out-Law News | 18 Feb 2022 | 2:05 am |

Financial institutions in Singapore have set out the 12 technical skills and competencies they deem necessary for individuals who are in the industry dealing with sustainable finance.

Mayumi Soh of Pinsent Masons MPillay, the Singapore joint law venture between MPillay and Pinsent Masons said: “With the increased demand for sustainable finance talent in the region, the development of the benchmarks is likely to help in talent development.”

These technical skills and competencies include thematic topics as well as functional knowledge topics.

Thematic topics are climate change policy development, natural capital, green taxonomies, carbon markets and decarbonisation strategies. Functional knowledge topics include areas such as sustainability reporting and risk management, sustainable investment management, sustainable lending instruments structuring, non-financial industry sustainability developments and sustainable insurance and re-insurance solutions, according to a joint statement by the Institute of Banking and Finance Singapore (IBF) and the Monetary Authority of Singapore (MAS).

The sustainable finance technical skills and competencies (SF TSCs) are part of the IBF skills framework for financial services, which provides information on occupations, job roles and career pathways as well as training programmes for professionals to upgrade their skills.

The SF TSCs will be reviewed regularly to consider the evolving developments and needs for those working in sustainable finance.

Participants who enrol in IBF-accredited training programmes will be able to defer up to 90% of their training expenses under the IBF-standards training scheme grant.