ESGpedia champions effective green finance by launching registry platform

Hashstacs Pte Ltd (‘STACS’) has developed and launched its ESGpedia registry platform. ESGpedia aims to improve sustainability data quality to support more effective sustainable finance.

Launched with a live showcase at the Project Greenprint Industry Showcase Event (May 18) organised by the Monetary Authority of Singapore (‘MAS’), Singapore FinTech Association (‘SFA’), and STACS, ESGpedia aggregates, records, and maintains the provenance of holistic and forward-looking environmental, social, and governance (ESG) certifications and data of companies across various sectors and global verified sources on a single registry, utilising blockchain technology to ensure security and ease of access by different users.

ESGpedia will power the Greenprint ESG Registry, one of the four digital utility platforms housed under Project Greenprint, which MAS is developing in partnership with the industry.

Benjamin Soh, Managing Director at STACS, said: “There’s a profound disconnect between the ESG data financial institutions and companies need, and what is available to them. First of its type, ESGpedia aggregates all ESG efforts, bridging the gap in ESG data and finance where there is no other such platform today. We are excited to be working on use cases with leading global partners in different industries and sectors, whether as data providers or users, to strengthen trust in ESG data, to truly enable effective sustainable finance on an international scale.”

Dr Darian McBain, Chief Sustainability Officer at MAS, said, “The launch of the blockchain-based ESGpedia platform establishes a robust base for powering the Greenprint ESG Registry, combining STACS’ work on aggregating high quality ESG data from multiple certification bodies and verified sources, with the ability for financial institutions, corporates, and regulators to access this trusted data via a single source in accordance with their needs.”

“In time, data housed in the Greenprint ESG Registry will form a central pillar that underpins the financial sector’s effective mobilisation of capital towards sustainable projects, as well as the accurate tracking and quantification of emission reductions, abatement levels, and other sustainability KPIs linked with these projects.”

ESGpedia serves financial institutions like banks, asset managers, investors, insurers, and exchanges, as well as non-financial institutions like corporates, service providers, and verifiers. Since November 2021, partners of STACS ESGpedia include:

Financial institutions:

• Citi
• Climate Impact X
• CSOP Asset Management Pte Ltd
• DBS Bank
• Fidelity International
• OCBC Bank
• Singlife with Aviva
• Standard Chartered
• UBS
• UOB

Corporates and non-financial institutions:

• CDP (global environmental disclosure platform)
• CO2 Connect (CO2X) Pte Ltd (transport and logistics platform)
• Containers Printers (manufacturing sector platform)
• Envision Digital (AIoT software platform for decarbonisation)
• Evercomm Singapore (industrial, commercial, and hospitality sector platform)
• GreenON (agriculture sector sustainability tracking platform)
• HeveaConnect (natural rubber trading platform)
• PwC Singapore
• SGTraDex (digital supply chain trade platform)
• Surbana Jurong (building and construction sector platform)
• Sustainable Grid (renewable energy certificates platform)
• TÜV SÜD PSB
• U-Reg (ESG reporting platform)

Anoushka Dua, ASEAN Trade Head at Citi, said: “Sustainability is at the heart of our corporate strategy, both in the way Citi conducts its business, and the client initiatives that we support. We are helping clients to finance socially and environmentally responsible trade and provide working capital for sustainable initiatives. Our sustainable solutions, from sustainable supply chain finance through to trade loans and agencies solutions, are proven and in live operation, providing a robust, transparent way for clients to meet their sustainability ambitions. Our partnership with STACS and MAS on Project Greenprint is expected to amplify sustainable finance by leveraging standardised ESG data available through the ESG registry.”

Helge Muenkel, Chief Sustainability Officer at DBS, said: “The lack of high-quality standardised ESG data on companies, especially in Asia, remains a key impediment to unlock capital at the speed and quantum needed for the region’s transition towards lower carbon economies. The STACS’ ESGpedia registry platform aims to tackle this head on by creating a trusted centralised data repository for banks and investors to track a company’s progress measured against a standardised set of sustainability metrics. This paves the way for more companies to access sustainable finance to advance their sustainability agendas and make measurable steps towards realising a net-zero future.”

John Fahey, Programme Manager at Fidelity International, adds: “We are pleased to have completed the first phase of our collaboration with STACS on ESGpedia, as part of a long-term focus on ESG reporting and tracking with the aim of tackling greenwashing.”

Lee Hwee Boon, Senior Vice President, Global Commercial Banking at OCBC Bank, said: “Digitalisation and data have become key enablers of sustainability. Being able to track and measure their carbon footprint allows businesses to improve their environmental performance and enables banks to make evidence-based decisions on financing green investments and projects. In line with our objective to support customer transitions to a low-carbon world, we are pleased to partner MAS and STACs on the Greenprint ESG Registry, which will provide a single point of access to reliable ESG certifications across different sectors.”

Pearlyn Phau, Group CEO at Singlife with Aviva, said: “Singlife with Aviva is proud to be the first insurer onboard Project Greenprint. Sustainability is a key strategic pillar at Singlife and we see great potential in the sphere of green finance. Through our partnership with STACS, we hope to create a positive impact and provide customised and potentially cost-saving solutions for customers who successfully reduce their carbon footprint.”

Maisie Chong, Head, Transaction Banking, Singapore and Head, Trade and Working Capital, ASEAN, Standard Chartered, said: “Transparency and accountability are key to driving greater adoption of sustainable finance. STACS’s launch of its blockchain-enabled ESGpedia registry platform is a game-changer as it offers businesses verified and quality sustainability data that will be recognised by both MAS and global regulatory bodies. This development is aligned with Standard Chartered’s commitment to supporting a just transition by channelling capital to where it is needed most and leveraging our sustainable finance framework and comprehensive data-driven financing solutions to help our clients achieve their green KPIs.”

Desmond Kuek, Head of Sustainable Finance Asia Pacific and Global Head of Sustainable Finance Group at UBS, said “UBS is delighted by the successful inception of Project Greenprint’s ESGpedia and our collaboration on enhancing Singapore’s sustainable finance framework. This new registry would be an important milestone in enabling the development of digital sustainability-related products and solutions, and in particular, helping to bring ESG features into regulated distributed ledger technology (DLT) and smart contract-based products and solutions in Singapore and across the APAC region.

Eric Lim, Chief Sustainability Officer at UOB, said, “At UOB, we believe that what gets measured, gets done. The use of technology in initiatives such as Project Greenprint’s ESGpedia will go a long way in making sure that quality and verified ESG data is available and comparable. With companies communicating more clearly their environmental, social and economic impact, banks, including UOB, will be able to have more meaningful conversations with them and through financing, support them in global, regional and sectoral transitions.”

While ESG data disclosures are the current norm, ESGpedia aims to take data-driven financial decisions to the next level by also providing holistic and forward-looking ongoing data on projects as well as ESG certifications on a common, standardised registry, allowing for a perpetual monitoring of corporates’ sustainability progress. ESGpedia integrates with data providers including data disclosure platforms, sectoral platforms and certification bodies. The ESGpedia registry is now launched with ready modules and APIs for integration, at a free tier, to encourage industry adoption. As of today, the registry hosts 168,100 certificates, covering 60,552 companies and 110,500 assets.

With industry certifications being expensive and slow to attain due to highly manual processes and fragmented information, the registry also aims to level the playing field for corporates, especially SMEs without a dedicated ESG team, by making it easier for them to do ESG reporting and access sustainable financial services.

John Leung, Director, Southeast Asia & Oceania at CDP, commented: “Credible, consistent, comparable ESG data and insights are critical to accelerating the flow of sustainable financing across sectors and borders. It enables companies to uncover risks and opportunities, informs the decision making of investors and supports the development of good policies. Holding the world’s largest database on corporate environmental action, CDP is delighted to support ESGpedia, the Greenprint ESG Registry, which is sure to drive the growth of sustainable finance, both in Singapore and globally.”

Daniel Loh, Co-Founder at GreenON, said: “GreenON is honoured to partner STACS ESGpedia, which powers the ESG Registry of MAS’s Project Greenprint, to serve the Agri-Food sector with our disclosure data platform. GreenON’s partners include MUFG Bank, iAPPS, AgriON, GreenArc, NUS AIDF, and CriAT. GreenON publishes verifiable ESG credentials onto ESGpedia, to promote transparent sustainability reporting. This will enable financiers and investors to make better green investments decisions, resulting in a positive ESG cycle.”

Fang Eu-Lin, Sustainability and Climate Change Leader, PwC Singapore, who leads the firm’s Asia Pacific Centre for Sustainability Excellence in Singapore, said: “We’re excited to be working with STACS, a portfolio company of PwC Singapore’s Venture Hub, and MAS through Project Greenprint. Our goal is to always help our clients achieve their ESG goals, deliver sustained outcomes and build trust with their stakeholders, which can be enabled through quality data and continuous upskilling.”

Antoine Cadoux, CEO at SGTraDex, said: “SGTraDex’s collaboration with MAS Project Greenprint demonstrates the importance of bringing together government and the private sector to scale ESG solutions. Our feasibility study on Green and Sustainable Trade Finance (GSTF) with financial institutions UOB, DBS, Standard Chartered, and OCBC highlighted the role of SGTraDex as a data orchestrator in enabling connectivity between data ecosystems with ESGpedia, the Greenprint ESG Registry, as a trusted data repository. As the possibilities for GSTF proliferate, this partnership will set a strong foundation alongside evolving industry frameworks, technological and market developments.”

Klaus Langner, Chief Financial Officer, TÜV SÜD ASEAN, South Asia, Middle East and Africa Region, said: “As an international testing, inspection, certification, and training company, TÜV SÜD is pleased to join hands with STACS to support the aggregation of ESG information on ESGpedia to enable financial institutions and corporates to better mobilise capitals towards ESG projects. ESGpedia also lists sustainability services including TÜV SÜD’s Sustainability-as-a-Service Programme. Aligned with our mission to enable a safer and more sustainable ecosystem for people, the environment, and companies, we believe that this partnership will allow us to contribute to realising Singapore’s Green FinTech ambitions.”

Shadab Taiyabi, President at SFA, said: “Singapore FinTech Association, through our Green and Sustainable FinTech Subcommittee’s experience and expertise is proud to continue fostering the development of this ecosystem towards an inclusive, net-zero carbon and resilient economy supported by Green Finance in Singapore by working collaboratively with various stakeholders who wish to embark on their sustainability journey.” 

About STACS

STACS (Hashstacs Pte Ltd) is a Singapore-headquartered FinTech company focused on ESG FinTech, in partnership with the Monetary Authority of Singapore’s (MAS) Project Greenprint for ESGpedia which powers the Greenprint ESG Registry. STACS serves as the Nexus of ESG Finance with its live blockchain infrastructure that enables effective Sustainable Finance, and unlocks value in Asset and Wealth Management and Digital Securities. Its clients and partners include global banks, stock exchanges, asset managers, corporates, and SMEs.

STACS is The Asset Triple A Digital Awards 2021 FinTech Start-Up of the Year, an Award Winner of the MAS Global FinTech Innovation Challenge Awards 2020, and also a two-time awardee of the Financial Sector Technology and Innovation (FSTI) Proof of Concept (POC) grant, under the Financial Sector Development Fund administered by the MAS.