If you want to work in sustainable finance in Singapore, the banking sector is an obvious choice. UOB announced in its third quarter results, for example, that it had approved $14bn in sustainable finance. Deutsche Bank, meanwhile, is recruiting for an environment, social and governance (ESG) centre of excellence in the Republic.
But you should also keep an eye on buy-side jobs. A growing number of asset managers have set up sustainability hubs in Singapore, according to the 2020 Singapore Asset Management Survey, which was released this week by the Monetary Authority of Singapore (MAS).
The survey reveals which buy-side firms you might want to apply to, if sustainable finance is on your career agenda. Abrdn, BNP Paribas Asset Management, NNIP, Nordea Asset Management, Robeco and Schroders have set up sustainability hubs in Singapore, or have announced their intention to do so. “These managers will develop their green finance research capabilities, launch new sustainable strategies or anchor green fintech solutions in Singapore,” says the MAS report. It is likely that recruitment will go hand in hand with this expansion.
Meanwhile, other firms have been hiring at a leadership level. BlackRock, Fidelity International and Fullerton now have global or Asia Pacific regional ESG heads in Singapore to “drive their sustainable investing strategies and stewardship activities”.
If you’re struggling to find a sustainable finance job in Singapore, you might want to get some training before you apply again. MAS has supported the establishment of institutes for training and research on Asian green finance, including the Singapore Green Finance Centre, a partnership between Singapore Management University and Imperial College Business School, and the National University of Singapore’s Sustainable and Green Finance Institute.
Meanwhile, asset management industry associations, including the Investment Management Association of Singapore and the Singapore Venture Capital & Private Equity Association, have also launched courses in sustainable finance for buy-side professionals.
“Green and sustainable finance continues to be a priority for Singapore. MAS is building a vibrant financial ecosystem to support Asia’s transition to a low-carbon future, which includes building knowledge and capabilities in sustainable finance,” says the report, pointing to a wider need for recruitment.
Photo by Christian Anasco on Unsplash
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