Sustainable Finance

MAS and CDP Sign MoU for Sustainability Disclosures and Quality ESG Data

Published on: 22 March 2022 10:20 AM
by KnowESG
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CDP, a non-profit charity that runs the global disclosure for investors, has partnered with the Monetary Authority of Singapore (MAS) by signing a Memorandum Of Understanding (MoU) to foster sustainability disclosures and access to quality ESG data across the financial sector and real economy.

The collaboration will help financial institutions and corporates effectively measure and monitor their climate-related activities. The partnership brings together MAS' Project Greenprint and CDP's disclosure system, so corporates, investors, financial institutions can enhance their access to ESG data and implement capacity building programmes.

The environmental disclosure system of CDP allows companies, investors, cities to measure and manage their environmental impacts. CDP has one of the world's leading disclosure systems for companies and subnational governments. The partnership also aims at supporting financial institutions in the decision making process by providing access to transparent, trusted and efficient ESG data.

Paul Simpson, Chief Executive Officer, CDP, said: “As the pioneer of corporate environmental disclosure, CDP is delighted to support MAS with our wealth of data, insights and expertise. This partnership represents a major contribution by MAS in driving the growth of sustainable finance both domestically and globally. Building on the Singapore Exchange’s recent adoption of the recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD) among its listing requirements and the introduction of Project Greenprint, stakeholders will have access to credible ESG insights and data that can be used to accelerate the flow of sustainable financing across sectors and borders. We look forward to supporting MAS in ensuring that the Greenprint platforms are developed and operated in line with best practices in environmental reporting and management.”

Dr Darian McBain, Chief Sustainability Officer, MAS, said, “The signing of this MOU underscores MAS and CDP’s commitment to leverage technology to help drive the sustainability agenda. Harnessing technology to facilitate trusted and efficient ESG data flows is a key component of MAS’ Green Finance Action Plan. In particular, technology solutions present remarkable potential to improve the availability, quality, and comparability of ESG data and disclosures. I hope this collaboration between MAS and CDP will empower corporates in their sustainability journeys and to align their ESG disclosures with international best practices.”