SINGAPORE — Mr Ravi Menon, the former chief of the Monetary Authority of Singapore, will be the country's first Ambassador for Climate Action.

He will play a leading role in Singapore’s climate efforts domestically and beyond, as well as represent the country at international climate action platforms.

"He will also drive public-private partnerships with local stakeholders, in particular the business community, to help them seize opportunities to succeed in a low-carbon future," the National Climate Change Secretariat (NCCS) said on Tuesday (March 26).

Mr Menon will also be a senior adviser at NCCS, which falls under the Prime Minister's Office.

Both appointments take effect on April 1.

Singapore has set a target of achieving net-zero emissions by 2050. 

Some strategies towards meeting that goal include investing in low-carbon technologies and encouraging changes in business practices. 

"Singapore will play an active role in fostering international collaboration to catalyse global climate action, and will leverage our strengths as a global hub to do so," NCCS added.

Mr Menon was the longest-serving managing director of the MAS, having held the position from 2011 until his retirement on Jan 1 this year.

During his time at the central bank, he helped to build a green finance ecosystem to support Singapore’s and Asia’s transition towards a low-carbon future.

He also led MAS' efforts to develop a taxonomy for transition financing, forge an international coalition to promote transition credits, as well as build a blended finance platform to address climate finance gaps and increase the bankability of green and transition projects in Asia.

"Mr Menon has a strong international network in climate finance," said NCCS, noting that he has chaired international committees such as the Network of Central Banks and the Asia-Pacific Advisory Board of the Glasgow Financial Alliance for Net Zero. CNA