February 29, 2024

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Singapore Introduces Sustainability Reporting and ESG Data Portal

The Monetary Authority of Singapore (MAS) and Asia’s most trusted securities group collaborated to launch ESGenome, a digital disclosure portal for companies to report Environmental, Social and Governance (ESG) data in a structured and efficient way, and for investors to access such data in a consistent and comparable format.

Under Project Greenprint, the MAS and securities group are working together on ESGenome to make a common disclosure tool that will make it easier for listed companies to report on their sustainability.

“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,” says Dr Darian McBain, Chief Sustainability Officer, MAS. He also said that technology is an important way to make sure that this data is reported quickly, correctly, and efficiently in a world where the disclosure landscape is changing rapidly.

Since corporate sustainability disclosures are one of the biggest sources of ESG data in the world, there is a lot of room to use technology to improve and make it easier to compare data to help make the financing decisions needed for a credible transition.

Currently, the proliferation of numerous sustainability reporting standards and rules across jurisdictions, as well as the varied way data is collected, examined, and published, have resulted in substantial disclosure issues and poor ESG data comparability.

On the other hand, a sustainability reporting fintech company will operate ESGenome, a Software-as-a-Service (SaaS) service. It simplifies the disclosure process for listed firms by providing a basic set of measures that are mapped across worldwide standards and frameworks:

  • Organisations can conduct their baseline sustainability reporting by fundamental ESG metrics;
  • Corporations can provide additional disclosures by internationally acknowledged ESG reporting standards and frameworks;
  • Companies are only required to give a single input for each ESG measure; these inputs can be automatically mapped across their chosen standards and frameworks to meet the needs of various investors;
  • The inputs can automatically generate a sustainability report.

ESGenome gives investors and financial institutions access to relevant and comparable ESG data, enabling meaningful benchmarking against peers and tracking of sustainability commitments. This enables more effective capital mobilisation for sustainable firms and projects.

As part of its ongoing work on Project Greenprint, MAS will also use the lessons learned from ESGenome to address the reporting needs of a broader universe of corporations, including small and medium-sized businesses, supply chain partners, and suppliers.

Meanwhile, the Land Transport Authority (LTA) organised the Land Transport Industry Day for the third time, bringing together industry leaders to share insights and best practices. Multiple announcements were made on the electric vehicle (EV) ecosystem and advancement in the land transportation industry.

LTA also presented new skill training courses as part of a bigger effort to build a pipeline of qualified personnel capable of working on the safety and maintenance of electric vehicles.

The LTA developed this with the help of Workforce Singapore (WSG) and the Ministry of Manpower to better understand the influence of technical and sociological trends on the future demands and capabilities of the land transport workforce.

It gives high-level advice on how to train and improve the skills of local workers so that they can be used by different industries and technology partners.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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