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MAS forms new sustainability group, appoints Darian McBain to steer green finance agenda

MAS forms new sustainability group, appoints Darian McBain to steer green finance agenda

Dr Darian McBain's appointment as chief sustainability officer of MAS will take effect from Oct 1, 2021. (Photo: Monetary Authority of Singapore)

SINGAPORE: The Monetary Authority of Singapore (MAS) on Tuesday (Sep 7) announced the formation of a new sustainability group and the appointment of Dr Darian McBain to lead the group.

Dr McBain's role as MAS chief sustainability officer will take effect on Oct 1.

The new group will steer sustainability efforts across MAS and build its capabilities in the area, the authority said in a press release.

It will also coordinate MAS' green finance and sustainability agenda, which MAS described as:

  • Strengthening the financial sector’s resilience against environmental risks
  • Developing a vibrant green finance ecosystem to support Asia’s transition to a low-carbon future
  • Identifying strategic green finance collaborations with regional and international counterparts
  • Reducing MAS’ own carbon and environmental footprint

Dr McBain was most recently chief sustainability officer at seafood supplier conglomerate Thai Union Group and has more than 20 years of experience in sustainability roles across various sectors, said MAS. 

She spent six years with the seafood giant and stepped down in July. 

She holds a PhD in social indicators for global supply chain analysis and a Masters in business strategy, politics and environment. She was also named a United Nations Sustainable Development Goal Pioneer for spearheading environmental initiatives.

Dr McBain will report to MAS' deputy managing director for financial supervision Ho Hern Shin and deputy managing director for markets and development Leong Sing Chiong.

She will be in charge of setting the agenda for the authority's Green Finance Steering Committee chaired by managing director Ravi Menon.

"The formation of the Sustainability Group reflects MAS’ commitment to embed climate change and environmental sustainability across its roles as a financial regulator, as a promoter of the financial sector, and as an organisation," said Mr Menon.

"Green finance and climate resilience are growing areas of priority for MAS and we are pleased to have Darian join us and lead our efforts in these areas.”

Source: CNA/nh(ac)

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