Singapore Sustainable Finance Association https://validator.w3.org/feed/docs/rss2.html Home FAQ Repository Industry Event (250909) – S&P Global APPEC 2025 Industry Event (251022) – RI Asia 2025 Industry Event (251023) – GRESB Regional Insights Industry Event (251028) – One Univers Executive Luncheon Industry Event (251017) – CMI Forum 2025 Industry Event (251008) – 17th GCNS Summit 2025 SSFA Event (240718) – SSFA-SGBC Roundtable on Financing Decarbonisation in the Real Estate Sector SSFA Event (251113) COP30 Finance Day Panel – Unlocking Sustainable Futures for MSMEs: Bridging the Sustainability Gap through Inclusive Finance and Fintech Innovation Industry Event (251114) – COP30 – One Year On: Strengthening ASEAN’s Carbon Market Integrity Through Regional Cooperation SSFA Event (251112) COP30 Finance Day Panel – Supporting credible corporate transition through Carbon Markets SSFA Event (251015) – SSFA-FC4S Dialogue: Catalysing NDCs Through Transition Finance SSFA Event (251006) – SSFA-RMI Singapore Alignment Forum SSFA Event (251104) – Catalysts of Change – Spectrum of Capital SSFA Workshop (251017) – MAS-SSFA Technical Workshop on Climate Scenario Analysis (CSA) SSFA Event (251015) – Australian High Commission-SSFA Roundtable on Sustainable Finance SSFA Connects (251007) – Member’s Showcase – ICMA & TNC SSFA Event (251001) – SSFA-PwC Roundtable on SBTi FINZ Standard for Financial Institutions Singapore-Asia Taxonomy FAQ Repository For cement, why are single or combined decarbonisation measures considered eligible only for amber labelling, rather than green? Would emission intensity be a factor in the assessment? For example, if a facility integrates renewable energy measures but still has an overall emission intensity below the threshold in Table 11, would the project be eligible for green labelling? Under bioenergy feedstock, agriculture feedstock is used as one of the examples, however, food-based/ food-waste feedstock is generally not considered sustainable. Does the SAT have any views or consider having exclusionary criteria for agricultural feedstock? For the activity “Electricity from hydropower,” does the scale of the hydropower project (large vs. small, we observe 25MW often being referenced as capacity threshold) matter? Referencing TSC 1.14 Production of heat or cool from waste heat: Is “ISIC 3530 Steam and air conditioning supply” used for both Activity 1.13 District heating and cooling systems and 1.14. Production of heat or cool from waste heat? Referencing TSC 1.14 Production of heat or cool from waste heat: Is Activity description 1.14 the same as Activity 1.13. District heating and cooling systems? Referencing TSC 1.12 Electricity generation from fossil gaseous fuels, Green Criteria include “The activity meets the following criteria: CCS is eligible as a lever for the activity to meet the green thresholds as defined in Table 1”; Amber Criteria include “New or retrofit of existing facilities to meet Amber threshold”. Which Amber threshold does it refer to? Does it refer to Table 1 Amber thresholds for electricity generation activities? Referencing TSC 1.12 Electricity generation from fossil gaseous fuels, Green Criteria include “The activity meets the following criteria: CCS is eligible as a lever for the activity to meet the green thresholds as defined in Table 1”; Amber Criteria include “New or retrofit of existing facilities to meet Amber threshold”. Given that CCS is commonly adopted in Singapore, is it compulsory to meet the criteria for CCS? What if the power plant meets the green thresholds without using CCS? Referencing TSC 1.12 Electricity generation from fossil gaseous fuels, Green Criteria include “The activity meets the following criteria: CCS is eligible as a lever for the activity to meet the green thresholds as defined in Table 1”; Amber Criteria include “New or retrofit of existing facilities to meet Amber threshold”. Does ‘The activity meets the following criteria’ mean that it needs to meet all of the following criteria or just one of the following criteria? Referencing TSC 1.7 Transmission and distribution of electricity. Green Criteria include “All enabling ICT systems and smart management systems, and those required for procurement of electricity that meet the green thresholds are eligible”. Could you clarify the Methodology note – “… electricity grid network under consideration.” Referencing to TSC 1.7 Transmission and distribution of electricity – How should financial institutions assess this activity? Some information required may not be possible to furnish by the party being financed, e.g., lifecycle intensity of other plants, grid decarbonisation trajectory, etc. For existing CAPEX financing that are previously labelled Amber under “Amber (measures)” [B], how would they be reclassified when the activity itself is reassessed and meets Amber or Green threshold (A)? There are various sections under Amber (measures) that include the statement “And, all measures must meet the following criteria: the power cannot be generated from renewable energy sources, based on comparative assessment….” Referencing TSC 1.3 Electricity generation from hydropower, Green Criteria include “All pumped storage systems for hydropower plants that comply with EITHER of the criteria are eligible”. If the customer’s electricity generation project sourced from a combination of hydropower and fossil gaseous fuels, fall under Activity 1.3 Electricity generation from hydropower or Activity 1.12. Electricity generation from fossil gaseous fuels? Referencing TSC 1.3 Electricity generation from hydropower, Green Criteria include “All pumped storage systems for hydropower plants that comply with EITHER of the criteria are eligible”. What is the scope of “All pumped storage systems”? Does the term “All pumped storage systems for hydropower plants” specifically refer to pumped storage hydropower (PSH) plants only, or does it apply to all types of hydropower plant (e.g. run-of river, storage (reservoir or impoundment), etc.)? What about Captive Power Plants (CPP) which have a financial close > 2021? Do alternatives include methanol? What is the holistic definition of low-carbon gas for SAT? Is there a defined list of gases that can be categorised as low-carbon gases? What are the technical screening criteria (TSC) for hybrid/ blended projects such as: Hydrogen storage facility which stores hydrogen from a blend/mix of different sources, how could the operator track and evidence this? What are the technical screening criteria (TSC) for hybrid/ blended projects such as: Mixed renewable and gas energy plants that combine both green and non-green elements? For new CAPEX financing provided to activities classified as Amber (A), do these need to meet the eligibility criteria specified under “Amber (measures)” [B]? How does Amber activities differ with Amber (measures) and how to use them? Under TSC 4.7, Manufacture of Batteries, it states that batteries must achieve “substantial GHG emission reductions”. Under TSC 4.11, it says “household appliances falling into the highest TWO classes of energy efficiency in accordance with local market standards”. But in TSC 4.12, it says “goods that meet the HIGHEST performance level for a given good in energy rating system introduced by the NEA or internationally available equivalent”. Due to the similar nature of the goods in question, should it be the highest two or just the highest? Under TSC 4.7 Manufacture of Batteries, it states that the batteries need to result in “substantial GHG emission reductions”. How does one track and evidence the way the batteries are used, the source of energy (grid or otherwise), and end-of-life/circularity in order to estimate said “substantial GHG emission reductions” (which happens in the future)? For steel, we note that the SAT criteria for amber activities align with the green criteria for production facilities operational prior to 2022 (with a sunset date of 2030). If a loan matures before 2030, should the borrower label the activity as green (aligned with CBI) or amber (aligned with SAT)? For steel, we understand that the SAT criteria are aligned with the CBI criteria. The CBI distinguishes between criteria for new and existing steel plants based on a 2022 cutoff, but the SAT does not seem to take the same approach. Could SAT provide clarification on this? For the manufacture of cement, it is noticed that the use of recycled aggregates was not taken into consideration. Why is it so? The Green Cement label under the Singapore Green Label Scheme takes this into account. For hydrogen, when considering multiple production facilities owned by the borrower, is the emission intensity threshold applied on a facility-by-facility basis or as an average across all facilities? For basic chemicals, how is emission intensity determined for production facilities that produce a mix of various chemical products? Can this be assessed at the facility level rather than on a product-by-product basis? The eligibility criteria for battery recycling are not clearly stated. Does it mean that all the recycling types are acceptable, including pyrometallurgical recycling? Some corporates/ banks have been unsure about using the term “green” for some recycling methods. We believe adding clarifications would help avoid potential misinterpretations. According to the Amber criteria (measures), any new renewable energy installation at the facility can be classified as Amber (provided that this is implemented before 2035 and the Borrower/ Issuer has a transition plan aligned with 1.5 °C). However, if an aluminium producer takes a loan for the installation of rooftop solar panels (in order to generate solar energy for its own facility), wouldn’t this already be considered as “Green” under TSC 1.1 Electricity generation using solar PV and CSP (including electricity, heat, and cool)?