The secretariat of the Climate Data Steering Committee (CDSC), Monetary Authority of Singapore (MAS) and Singapore Exchange S68 (SGX) have signed a memorandum of understanding to collaborate on strengthening access by stakeholders worldwide to key climate transition-related data.
The collaboration aims to synergise across MAS’s Project Greenprint’s ESGenome disclosure portal and the CDSC’s Net-Zero Data Public Utility (NZDPU) global repository of climate transition-related data.
It will allow companies that report into ESGenome to transmit to the NZDPU their data on Scope 1, 2 and 3 greenhouse gas emissions. This will help enhance the tracking of these companies’ climate commitments. In turn, the companies benefit from access to the NZDPU’s global database to inform their own decarbonisation efforts.
Work on the collaboration will commence in the first quarter of 2024.
The NZDPU aims to address the problems of inadequate access to and inconsistent reporting of climate transition-related data. Supported by Mike Bloomberg, the NZDPU is being built as an open and trusted central source of verifiable climate transition-related data.
Meanwhile, Project Greenprint is a digital platform launched by the MAS in 2020 to help mobilise capital to sustainable projects, monitor climate commitments and measure the impact associated with green and transition investments.
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Via its partnership with the SGX, the MAS has launched a digital portal for sustainability reporting available to SGX-listed entities, dubbed ESGenome.
ESGenome’s capabilities are being expanded to support disclosures by the broader corporate universe, notably small and medium-sized enterprises.
The collaboration to harmonise and scale climate disclosures globally is a significant step in facilitating allocation of public and private capital towards financing climate transition, says SGX CEO Loh Boon Chye.
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“Consistent and comparable sustainability data, that is easily accessible, is what companies and investors need for benchmarking and investment decision-making,” he adds.
ESGenome was launched with a pioneer batch of SGX-listed companies last year. The SGX will work closely with all the stakeholders to scale this initiative, says Loh.
