Featured Product

    MAS to Promote Access to Quality ESG Data

    March 18, 2022

    The Monetary Authority of Singapore (MAS) and the Carbon Disclosure Project (CDP) signed a Memorandum of Understanding, agreeing to collaborate on promotion of sustainability disclosures and access to quality environmental, social, and governance (ESG) data across financial sector.

    MAS and CDP aim to support financial institutions in their sustainable finance and sustainable investment decisions by providing access to transparent, trusted, and efficient ESG data, thus helping institutions to better measure and monitor their ESG impact and performance. The collaboration is intended to ensure the exchange of information between the environmental disclosure system of CDP and the Project Greenprint, which is "a technology and data platform from MAS." This will enhance financial institutions’ access to ESG data and implement capacity building programs on climate disclosures by corporates and financial institutions. CDP is fully aligned with the Taskforce on Climate-related Financial Disclosures (TCFD) and holds the largest environmental database in the world. More than 14,000 organizations worldwide disclosed data through CDP in 2021, including ~13,000 companies worth over 64% of global market capitalization and ~1,100 cities, states, and regions. The environmental disclosure system of CDP allows investors, companies, and cities to measure and manage their environmental impact. CDP scores are widely used to drive investment and procurement decisions toward a zero carbon, sustainable, and resilient economy.

    These developments are in line with the objective of harnessing technology to facilitate trusted and efficient ESG data flows, which is a key component of the Green Finance Action Plan of MAS. The collaboration will help generate significant synergies with MAS’ Project Greenprint initiative, which was launched in December 2020. MAS expects to complete the following four digital common utility pilot platforms under Project Greenprint in the second half of 2022:

    • Greenprint Common Disclosure Portal—A portal in partnership with the Singapore Exchange, with the aim to simplify ESG disclosure process by converting data inputs into reporting frameworks required under different jurisdictions and for various purposes.
    • Greenprint Data Orchestrator— A platform that will aggregate sustainability data from multiple data sources, including major ESG data providers, utilities providers, and the Common Disclosure Portal, as well as other sectoral platforms such as GreenON, Olam International, and SGTraDex,.
    • Greenprint ESG Registry—A platform in partnership with Hashstacs Pte Ltd to record and maintain the provenance of ESG certifications accorded by certification bodies in different sectors as well as data and metrics that are verified by qualified third-party auditors.
    • Greenprint Marketplace—A platform in partnership with the API Exchange (APIX), with the aim of connecting green technology providers in Singapore and the region to a community of investors, venture capital firms, financial institutions, and corporates to facilitate partnership, innovation, and investments in green technology.

     

    Keywords: Asia Pacific, Singapore, Banking, Disclosures, ESG, Climate Change Risk, TCFD, Greentech, Regtech, Sustainable Finance, Project Greenprint, CDP, MAS

    Featured Experts
    Related Articles
    News

    EBA Sets Out Roadmap for 2023, Updates Reporting Framework 3.2

    The European Banking Authority (EBA) published its work program for 2023 as well as the technical package for phase 3 of version 3.2 of its reporting framework.

    September 30, 2022 WebPage Regulatory News
    News

    FED Announces Launch of Climate Scenario Analysis Exercise in 2023

    The Board of Governors of the Federal Reserve System (FED) announced a pilot climate scenario analysis exercise for six largest banks in the U.S.

    September 29, 2022 WebPage Regulatory News
    News

    BIS Paper Studies Impact of Fintech Lending on Small Businesses in US

    The Bank for International Settlements (BIS) published a paper that studies impact of fintech lending on credit access for small businesses in U.S.

    September 26, 2022 WebPage Regulatory News
    News

    UK Regulators Issue CRR Changes and Stress Test Scenarios for Banks

    The Prudential Regulation Authority (PRA) issued the policy statement PS8/22 to amend the Own Funds and Eligible Liabilities (CRR) Part of the PRA Rulebook and update the supervisory statement SS7/13 titled "Definition of capital (CRR firms).

    September 26, 2022 WebPage Regulatory News
    News

    EBA Launches EU-Wide Transparency Exercise in 2022

    The European Banking Authority (EBA) launched the EU-wide transparency exercise for 2022, with results of the exercise expected to be published at the beginning of December, along with the annual Risk Assessment Report.

    September 23, 2022 WebPage Regulatory News
    News

    SRB on CRR Quick-Fix to Policy for Multiple Point of Entry Banks

    The Single Resolution Board (SRB) welcomed the adoption of the review of the Capital Requirements Regulation, or CRR, also known as the "CRR quick-fix."

    September 22, 2022 WebPage Regulatory News
    News

    EC Rule Lists Advanced Economies for Market Risk Capital Calculations

    The European Commission (EC) recently adopted the Delegated Regulation 2022/1622, which sets out the regulatory technical standards to specify the countries that constitute advanced economies for the purpose of specifying risk-weights for the sensitivities to equity.

    September 21, 2022 WebPage Regulatory News
    News

    EBA Publishes Final Regulatory Standards on STS Securitizations

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying and, where relevant, calibrating the minimum performance-related triggers for simple.

    September 20, 2022 WebPage Regulatory News
    News

    ECB Further Reviews Costs and Benefits Associated with IReF

    The European Central Bank (ECB) is undertaking the integrated reporting framework (IReF) project to integrate statistical requirements for banks into a standardized reporting framework that would be applicable across the euro area and adopted by authorities in other EU member states.

    September 15, 2022 WebPage Regulatory News
    News

    EBA Publishes Funding Plans Report, Receives EMAS Certification

    The European Banking Authority (EBA) has been awarded the top European Standard for its environmental performance under the European Eco-Management and Audit Scheme (EMAS).

    September 15, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8523