Singapore MAS & SGX Launch ESGenome Disclosure Portal for ESG Reporting & Investors to Compare ESG Data, Companies Need Only One-Time Input with Auto-Generation of Sustainability Report
15th September | Singapore
Singapore central bank Monetary Authority of Singapore (MAS) and Singapore Exchange (SGX) have launched ESGenome disclosure portal for ESG reporting (Environmental, Social & Governance) & allowing investors to compare ESG data, and companies needing only a one-time ESG data input which will also auto-generate Sustainability Report. Dr Darian McBain, MAS Chief Sustainability Officer: “High quality sustainability data is critical for better decision making by corporates and financial institutions as they look to deliver against the UN SDG 2030 goals and their net zero transition pathways. Technology is an important enabler for the efficient, timely and accurate reporting of this data against the backdrop of a rapidly evolving global disclosure landscape. We are excited to launch ESGenome together with SGX to help listed entities in Singapore reduce the effort required to report on sustainability, assess impact, and drive informed decision making in their sustainability journey.” Michael Syn, SGX Senior Managing Director & Head of Equities: “ESGenome is designed to capture corporate sustainability disclosures in a simple and effective manner useful to investors and the broader capital market ecosystem. We are optimistic that by being frontrunners in ESG data disclosure via ESGenome, our listed companies will be in a better position to raise capital and attract international investors who are actively looking for leading ESG firms.” Ong-Ang Ai Boon, Director of The Association of Banks Singapore: “ “ABS welcomes the initiative. This is a good common disclosure utility, giving ABS a timely use case for our banking members to collect data directly from the private sector and in particular, SME clients, an important data set that is currently missing. ABS looks forward to collaborating with our regulator, businesses, solution providers and stakeholders to continue accelerating the financing and transition to a much-needed greener future.”
“ Singapore MAS & SGX Launch ESGenome Disclosure Portal for ESG Reporting & Investors to Compare ESG Data, Companies Need Only One-Time Input with Auto-Generation of Sustainability Report “
Singapore MAS & SGX Launches ESGenome Disclosure Portal for ESG Reporting & Investors to Compare ESG Data:
12th September 2022: The Monetary Authority of Singapore (MAS) and Singapore Exchange (SGX Group) today jointly launched ESGenome, a digital disclosure portal for companies to report Environmental, Social and Governance (ESG) data in a structured and efficient manner, and for investors to access such data in a consistent and comparable format.
ESGenome is a joint initiative by the MAS and SGX Group under Project GreenprintProject Greenprint is a collection of initiatives that aims to harness technology and data to enable a more transparent, trusted and efficient ESG ecosystem to enable green and sustainable finance. Please refer to MAS’ media release on Project Greenprint. , to develop a common disclosure utility that will facilitate sustainability reporting for SGX-listed companiesSpanning SGX-listed companies, business trusts and real estate investment trusts..
With corporate sustainability disclosures representing one of the largest sources of ESG data globally, there is great scope to harness technology to enhance such disclosures and comparability of data to support the financing decisions needed for a credible transition. Currently the proliferation of multiple sustainability reporting frameworks and guidelines across jurisdictions, and the inconsistent manner in which data is being collected, verified and reported have created significant disclosure challenges and resulted in poor ESG data comparability.
ESGenome is a Software-as-a-Service (SaaS) solution operated by World Wide Generation (WWG)WWG is a UK-based ESG solution provider. ESGenome is deployed on WWG’s G17Eco platform.. It helps SGX-listed companies simplify the disclosure process using a core set of metrics that is mapped across global standards and frameworks.
- Companies can carry out their baseline sustainability reporting based on a set of 27 SGX core ESG metricsIn 2021, SGX published a public consultation on a list of recommended 27 Core ESG metrics to align reporters and users of the information, allowing for greater consistency and comparability across companies and sectors..
- Companies can make additional disclosures in line with globally recognised ESG reporting standards and frameworksGlobal Reporting Initiative (GRI), Task Force on Climate-related Financial Disclosures (TCFD) and the UN Sustainable Development Goals (SDGs) are available for free. Sustainable Accounting Standards Board (SASB) and the Carbon Disclosure Project (CDP) are paid add-ons. International Sustainability Standards Board (ISSB) will also be considered in the future. across more than 3,000 ESG metrics, depending on materiality and their business needs.
- Companies need only provide a one-time input for each ESG metric – these inputs can be automatically mapped across their selected standards and frameworks to cater to different investor requirements.
- A sustainability report can be automatically generated from the inputs.
For investors and financial institutions, ESGenome provides access to relevant and comparable ESG data that allows for meaningful peer benchmarking and tracking of sustainability commitments. This enables capital to be mobilised more efficiently toward sustainable companies and projects.
MAS will also draw on the learnings from ESGenome to address the reporting needs of the broader universe of corporates, notably small and medium-sized enterprises, and supply chain partners and suppliers, as part of its ongoing work on Project Greenprint.
Dr Darian McBain, Chief Sustainability Officer, MAS: “High quality sustainability data is critical for better decision making by corporates and financial institutions as they look to deliver against the UN SDG 2030 goals and their net zero transition pathways. Technology is an important enabler for the efficient, timely and accurate reporting of this data against the backdrop of a rapidly evolving global disclosure landscape. We are excited to launch ESGenome together with SGX to help listed entities in Singapore reduce the effort required to report on sustainability, assess impact, and drive informed decision making in their sustainability journey.”
Mr Michael Syn, Senior Managing Director and Head of Equities, SGX Group:
“ESGenome is designed to capture corporate sustainability disclosures in a simple and effective manner useful to investors and the broader capital market ecosystem. We are optimistic that by being frontrunners in ESG data disclosure via ESGenome, our listed companies will be in a better position to raise capital and attract international investors who are actively looking for leading ESG firms.”
Mrs Ong-Ang Ai Boon, Director, The Association of Banks in Singapore:
“ABS welcomes the initiative. This is a good common disclosure utility, giving ABS a timely use case for our banking members to collect data directly from the private sector and in particular, SME clients, an important data set that is currently missing. ABS looks forward to collaborating with our regulator, businesses, solution providers and stakeholders to continue accelerating the financing and transition to a much-needed greener future.”
[1] Project Greenprint is a collection of initiatives that aims to harness technology and data to enable a more transparent, trusted and efficient ESG ecosystem to enable green and sustainable finance. Please refer to MAS’ media release on Project Greenprint.
[2] Spanning SGX-listed companies, business trusts and real estate investment trusts.
[3] WWG is a UK-based ESG solution provider. ESGenome is deployed on WWG’s G17Eco platform.
[4] In 2021, SGX published a public consultation on a list of recommended 27 Core ESG metrics to align reporters and users of the information, allowing for greater consistency and comparability across companies and sectors.
[5] Global Reporting Initiative (GRI), Task Force on Climate-related Financial Disclosures (TCFD) and the UN Sustainable Development Goals (SDGs) are available for free. Sustainable Accounting Standards Board (SASB) and the Carbon Disclosure Project (CDP) are paid add-ons. International Sustainability Standards Board (ISSB) will also be considered in the future.
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