MAS Environmental Risk Management Guidelines for Asset Managers Revised

MAS Guidelines

Published March 5th, 2026

Detected March 14th, 2026

Summary

The Monetary Authority of Singapore (MAS) has revised its Guidelines on Environmental Risk Management for Asset Managers, with an addendum on transition planning. These revisions aim to enhance fund management companies' and REIT managers' management of environmental risks and climate change-related transition and physical risks.

View original document View source feed page

What changed

The Monetary Authority of Singapore (MAS) has issued revised Guidelines on Environmental Risk Management for Asset Managers, effective March 5, 2026. The update includes an addendum on transition planning, providing more detailed supervisory expectations for fund management companies and real estate investment trust (REIT) managers to manage transition and physical risks associated with climate change. The guidelines cover governance, strategy, research, portfolio construction, risk management, stewardship, and disclosure of environmental risk information.

Asset managers and REIT managers must review and update their environmental risk management frameworks to align with these revised guidelines. This includes implementing robust transition planning processes to mitigate climate change impacts on their investee companies. While the document outlines MAS' expectations, it does not specify explicit compliance deadlines beyond the effective date, implying that entities should integrate these changes into their ongoing operations.

What to do next

Review and update environmental risk management frameworks to align with revised MAS guidelines.
Implement robust transition planning processes to manage climate change-related transition and physical risks.
Ensure disclosures of environmental risk information are compliant with updated expectations.

Source document (simplified)

Decrease font size Increase font size Print this page Guidelines Last Revised Date: 05 March 2026

Guidelines on Environmental Risk Management for Asset Managers

Guidelines to enhance fund management companies’ and real estate investment trust managers’ management of environmental risk.
- Risk Management
- Guidelines on Risk Management Practices
- Environmental Risk
- Transition Planning

Applies to: Licensed Fund Management Company, Venture Capital Fund Management Company, REIT Management

These guidelines set out MAS’ expectations on environmental risk management for all fund management companies and real estate investment trust managers.

The guidelines cover:

Governance and strategy
Research and portfolio construction
Portfolio risk management
Stewardship
Disclosure of environmental risk information The addendum on transition planning sets out more detailed supervisory expectations for asset managers to manage the transition and physical risks they face from climate change as part of a sound transition planning process.

View Documents

Guidelines on Environmental Risk Management for Asset Managers (Dec 2020) (337.6 KB)
Guidelines on Environmental Risk Management (Asset Managers) - Transition Planning (Mar 2026) (441.2 KB)
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.
These guidelines set out MAS' expectations on environmental risk management for all insurers.
Guidelines to enhance banks’ resilience to and management of environmental risk.
This consultation sets out MAS’ proposed Guidelines on Transition Planning for all fund management companies and real estate investment trust managers. 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 investee companies in the global transition to a net zero economy and the expected physical effects of climate change.

Consultation number: P014-2023 Start date: 18 October 2023 Closing date: 18 December 2023 MAS response date: 05 March 2026
- 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
View more