Singapore-Asia Taxonomy FAQ Repository

Developed by SSFA Taxonomy Workstream

The Singapore-Asia Taxonomy (SAT) FAQ Repository serves as a one-stop resource to support financial institutions, corporates and ecosystem enablers in understanding and adopting the SAT. This platform offers practical guidance, responses to common questions and supporting materials to promote consistent and credible application of the SAT.

Disclaimer

Responses provided in this FAQ repository reflects insights of the SSFA Taxonomy Workstream members, developed with the support from MAS. While these responses reflect the collective expertise and insights of the workstream, individual members are not automatically obligated to adopt the guidance or recommendations outlined herein. The information is intended to provide general clarity and support for the Singapore-Asia Taxonomy and should not be interpreted as binding regulatory advice or mandatory policy.

What is the Singapore-Asia Taxonomy?

In December 2023, the Monetary Authority of Singapore (MAS), together with the Green Finance Industry Taskforce (GFIT) launched the world’s first multi-sector transition taxonomy, the SAT. The SAT sets out clear, science-based thresholds and criteria for defining green and transition activities in Asia that substantially contribute to climate change mitigation. The SAT scopes in activities across eight sectors that are responsible for 90% of ASEAN’s greenhouse gas (GHG) emissions and over 40% of ASEAN’s economic value-add.

For more information, please refer to the following materials:

About SSFA Taxonomy Workstream

Led by Jeong Yoon Mee (OCBC), Shilpa Gulrajani (DBS), and Sylvia Chen (Amundi), SSFA’s Taxonomy Workstream aims to enhance the usability and adoption of the Singapore-Asia Taxonomy (SAT). The workstream comprises over 20 SSFA member organisations, including banks, asset managers, second-party opinion (SPO) providers, data providers, consultants, industry associations, etc.

The workstream has currently three ongoing initiatives (2024-2025):

1. Developing a sector-agnostic and sector-specific FAQ platform to share best practices and address common queries on SAT application;
2. Designing a training curriculum to build SAT capabilities across the sustainable finance ecosystem, i.e., financial institutions, corporates and ecosystem enablers; and
3. Providing practical guidance for financiers and borrowers on applying the SAT’s green and amber categories

Our Approach: An Industry Collaboration

The SAT FAQ Repository was developed through a collaborative, iterative process led by the Taxonomy Workstream. To support this, four key sectors (i.e., Real Estate, Transport, Energy and industrials) were prioritised. Sector-specific working groups within the workstream contributed and reviewed questions based on their practical experience, and drafted responses to reflect common industry challenges and use cases.

As the Project Management Office (PMO) for the workstream, EY facilitated the review and harmonisation of the draft responses. The harmonised draft was shared with the workstream through sector-level discussions to ensure accuracy, alignment, and practical relevance. This collaborative effort produced a final FAQ repository organised into cohesive categories, improving usability and capturing common implementation questions to support clearer understanding of the SAT’s application across sectors.

Members of the workstream include representatives from:

Join SSFA Today!

Join SSFA’s Taxonomy Workstream to be part of the ongoing initiatives! Find out more about SSFA Membership here.