MAS Forms Sustainability Group, Appoints Chief Sustainability Officer

The Monetary Authority of Singapore (MAS) announced on Tuesday the launch of a new Sustainability Group, with the appointment of Darian McBain as Chief Sustainability Officer, effective from 1 October 2021.

Based on the announcement, the Sustainability Group will steer sustainability efforts across MAS and help the organisation build deeper capabilities in this multi-faceted area. Besides, the new Group will coordinate MAS’ green finance and sustainability agenda, namely to:

(i) strengthen the financial sector’s resilience against environmental risks;

(ii) develop a vibrant green finance ecosystem to support Asia’s transition to a low-carbon future;

(iii) identify strategic green finance collaborations with regional and international counterparts;  

(iv) reduce MAS’ own carbon and environmental footprint.

McBain will report to Ms Ho Hern Shin, Deputy Managing Director of Financial Supervision and Mr Leong Sing Chiong, Deputy Managing Director of Markets and Development. She will set the agenda for MAS’ Green Finance Steering Committee chaired by Ravi Menon, Managing Director, MAS.

With more than 20-year extensive experience in the sustainability roles spanning across various sectors, McBain served Thai Union Group as Chief Sustainability Officer most recently. Previously,  she was named as a United Nations Sustainable Development Goal Pioneer for the environmental initiatives she has spearheaded.

 “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. 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,” Ravi Menon stated.