“Responding to a Perfect Long Storm”- Speech by Mr Tharman Shanmugaratnam, Senior Minister and Chairman, Monetary Authority of Singapore, at the IMAS-Bloomberg Investment Conference on 9 March 2022

“Responding to a Perfect Long Storm”- Speech by Mr Tharman Shanmugaratnam, Senior Minister and Chairman, Monetary Authority of Singapore, at the IMAS-Bloomberg Investment Conference on 9 March 2022

9 Mar 2022

On 9 March 2022, we welcomed over 800 participants to our IMAS-Bloomberg Investment Conference 2022, with over 200 attended the event physically and more than 600 attended the event virtually from various geographies and across time zones.

This year’s Conference theme of ” Stewarding Capital Towards New Horizons: Investing for a Greener Future” is a call to action for the audience.

Our Guest of Honour, Tharman Shanmugaratnam, Senior Minister and Chairman of the Monetary Authority of Singapore (MAS), opened with a deeply insightful speech on both the profound uncertainties facing the world and the immense opportunities for investments in innovation and structural transformation for an inclusive and sustainable world.

In what he described as a “perfect long storm”, SM Tharman expanded on a confluence of five forces that defined an era of global fragility: greater geopolitical insecurity, the heightened risk of stagflation, the urgency of both the climate crisis and coming pandemics, and the risk of growing divergences in growth and well-being, within and especially across nations.

SM Tharman called for vastly greater public-private collaboration to invest in the innovations needed to tackle the climate crisis, including urgent investments to scale up storage solutions for renewable energies, cleaner and more efficient fossil fuel generation, and nature-based solutions. Governments, corporate leaders and investors need to mainstream investing in the global commons for both sustainability and global health security, and to avoid the much larger costs of inaction. There is also a need for strengthened multilateral arrangements, and a more durable US-China understanding, to preserve geopolitical stability and avoid polarisation in a multipolar world.

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