MAS Guidelines on Transition Planning for Insurers

MAS Circulars

Published March 5th, 2026

Detected March 14th, 2026

Summary

The Monetary Authority of Singapore (MAS) has published guidelines on transition planning for insurers, adding to its existing environmental risk management framework. These guidelines detail supervisory expectations for managing climate-related transition and physical risks.

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What changed

The Monetary Authority of Singapore (MAS) has issued new guidelines on transition planning for all insurers, effective March 5, 2026. This addendum to the Guidelines on Environmental Risk Management sets out detailed supervisory expectations for insurers to manage transition and physical risks associated with climate change. It aims to enhance their ability to support customers, asset managers, and investees in the global transition to a net-zero economy.

Insurers are required to review and integrate these guidelines into their transition planning processes. While a specific compliance deadline is not explicitly stated beyond the effective date of the guidelines, regulated entities should ensure their transition planning frameworks align with MAS's expectations to manage climate-related risks effectively. Failure to comply could result in supervisory action.

What to do next

Review and integrate the new MAS Guidelines on Transition Planning into existing environmental risk management frameworks.
Ensure transition planning processes effectively manage climate-related transition and physical risks.
Align practices with MAS's detailed supervisory expectations for climate risk mitigation and adaptation.

Source document (simplified)

Decrease font size Increase font size Print this page Circulars Published Date: 05 March 2026

ID 04/26 Issuance of Guidelines on Transition Planning (Insurers)

Inform insurers of the publication of an addendum on transition planning to the Guidelines on Environmental Risk Management, which sets out more detailed supervisory expectations for insurers to manage the transition and physical risks they face from climate change as part of a sound transition planning process.
- Risk Management
- Guidelines on Risk Management Practices
- Environmental Risk
- Transition Planning
Applies to: Direct Insurer (Life), Direct Insurer (General), Direct Insurer (Composite), Reinsurer (Life), Reinsurer (General), Reinsurer (Composite), Captive Insurer, Lloyd's Asia Scheme, Authorised Reinsurer, Financial Holding Company (Insurance)
View Document ID 04/26 Issuance of Guidelines on Transition Planning (Insurers) (185.3 KB)

These guidelines set out MAS' expectations on environmental risk management for all insurers.
Guidelines to enhance fund management companies’ and real estate investment trust managers’ management of environmental risk.
Guidelines to enhance banks’ resilience to and management of environmental risk.
Guidelines on sound practices in carrying out insurance business and principles relating to risk management framework.
This consultation sets out MAS’ proposed Guidelines on Transition Planning for all insurers. The Guidelines set out the expectation for these financial institutions to have a sound transition planning process to enable effective climate change mitigation and adaptation measures by their customers, asset managers and investees in the global transition to a net zero economy and the expected physical effects of climate change.

Consultation number: P013-2023 Start date: 18 October 2023 Closing date: 18 December 2023 MAS response date: 05 March 2026
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