18/11/21

SINGAPORE: Jurisdiction to pilot fintech sustainability platforms.

As published on environment-analyst.com, Wednesday 17 November, 2021.

The Monetary Authority of Singapore (MAS) — Singapore’s central bank and integrated financial regulator — has announced a partnership with the finance and fintech industries to pilot four digital platforms aimed at addressing the financial sector’s need for high quality, consistent, granular data on ESG and sustainability.

The partnership — which comes under MAS’s Project Greenprint, launched in December 2020 to harness technology in the promotion of a "green finance ecosystem" — is intended to enable financial institutions to more effectively monitor their sustainability commitments, quantify the risks and impacts of their portfolios, and direct capital towards sustainability projects in a more scalable way.

Project Greenprint has enabled MAS to engage the financial industry in identifying potential "digital enablers" to meet their data challenges.The spotlight fell on interoperable data platforms that can aggregate new and existing sustainability data across multiple sectors and players and enable sharing between multiple stakeholders.

The four platforms to be piloted are the Greenprint Common Disclosure Portal, which aims to simplify the ESG disclosure process by converting data inputs into different reporting frameworks; the Greenprint Data Orchestrator, which will aggregate sustainability data from multiple data sources; the Greenprint ESG Registry, which will use blockchain technology to record and maintain the provenance of ESG certifications; and the Greenprint Marketplace, which will connect green technology providers in Singapore and the region to investors, venture capital firms and corporates.