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    MAS Launches SaaS Solution to Simplify Listed Entity ESG Disclosures

    September 15, 2022

    The Monetary Authority of Singapore (MAS) set out the Financial Services Industry Transformation Map 2025 and, in collaboration with the SGX Group, launched ESGenome, which is a digital disclosure portal for companies to streamline sustainability reporting and enhance investor access to the Environmental, Social, and Governance (ESG) data.

    Below are the key highlights of the recent updates:

    • The recently launched ESGenome is a joint initiative by MAS and SGX Group, under the Project Greenprint. ESGenome provides a Software-as-a-Service (SaaS) solution operated by World Wide Generation (WWG) to help SGX-listed companies simplify the disclosure process using a core set of metrics that are mapped across global standards and frameworks. The solution enables companies to carry out their baseline sustainability reporting based on a set of 27 SGX core ESG metrics, makes additional disclosures in line with the globally recognized ESG reporting standards and frameworks across over 3,000 ESG metrics (depending on materiality and business needs), and automatically generates a sustainability report 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. Going forward, MAS will draw on the lessons learned from ESGenome to address the reporting needs of the broader universe of corporates, notably small and medium-size enterprises, and supply chain partners and suppliers, as part of the ongoing work on Project Greenprint. 
    • The Financial Services Industry Transformation Map 2025 sets out the growth strategies to further develop Singapore as a leading international financial center in Asia—to connect global markets, support Asia’s development, and serve Singapore’s economy. The Industry Transformation Map 2025 comprises five key strategies: enhancing asset class strengths, digitalizing financial infrastructure and platforms, catalyzing Asia’s transition toward net-zero by developing innovative solutions to scale up sustainable and transition financing, enhancing payments connectivity of financial networks, and fostering a skilled and adaptable workforce.

     

     

    Keywords: Asia Pacific, Singapore, Banking, Regtech, Net Zero Economy, Sustainable Finance, ESG, Disclosures, ESGenome, Project Greenprint, Reporting, MAS

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