MAS and SGX Group Launch ESGenome Disclosure Portal to Improve Investor Access to ESG Data and Facilitate Sustainability Reporting
The Monetary Authority of Singapore (MAS) and Singapore Exchange (SGX Group) launched ESGenome, a digital disclosure portal for companies to publish ESG data systematically and efficiently and for investors to access such data in a standard and comparable format.
ESGenome is a joint endeavour of the MAS and the SGX Group under Project Greenprint to create a standard disclosure utility that would help SGX-listed companies with sustainability reporting.
With corporate sustainability disclosures representing one of the most important sources of ESG data globally, there is a significant opportunity to use technology to improve such disclosures and data comparability to support the funding decisions required for a credible transition.
The development of numerous sustainability reporting standards and rules across jurisdictions, as well as the varied manner in which data is collected, vetted, and published, has resulted in substantial disclosure issues and poor ESG data comparability.
ESGenome is a Software-as-a-Service (SaaS) solution operated by World Wide Generation (WWG). It makes disclosure easier for SGX-listed companies by using a core set of metrics that are mapped to global standards and frameworks.
ESGenome gives investors and financial institutions access to relevant and comparable ESG data, allowing for meaningful peer benchmarking and tracking sustainability commitments. It facilitates capital being directed more efficiently toward sustainable businesses and projects.
As part of its ongoing work on Project Greenprint, MAS will also draw on ESGenome learnings to meet the reporting demands of a broader universe of corporates, particularly small and medium-sized enterprises and supply chain partners and suppliers.
Dr Darian McBain, Chief Sustainability Officer, MAS, said:
“High-quality sustainability data is critical for better decision-making by corporates and financial institutions as they look to deliver against the UN SDG 2030 goals and their net zero transition pathways. Technology is an important enabler for the efficient, timely, and accurate reporting of this data against the backdrop of a rapidly evolving global disclosure landscape. We are excited to launch ESGenome together with SGX to help listed entities in Singapore reduce the effort required to report on sustainability, assess impact, and drive informed decision making in their sustainability journey.”
Mr Michael Syn, Senior Managing Director and Head of Equities, SGX Group, said:
“ESGenome is designed to capture corporate sustainability disclosures simply and effectively, useful to investors and the broader capital market ecosystem. We are optimistic that, by being frontrunners in ESG data disclosure via ESGenome, our listed companies will be in a better position to raise capital and attract international investors who are actively looking for leading ESG firms.”
Mrs Ong-Ang Ai Boon, Director, The Association of Banks in Singapore, said:
“ABS welcomes the initiative. This is a good common disclosure utility, giving ABS a timely use case for our banking members to collect data directly from the private sector and, in particular, SME clients, an important data set that is currently missing. ABS looks forward to collaborating with our regulator, businesses, solution providers, and stakeholders to continue accelerating the financing and transition to a much-needed greener future.”