The latest developments in the ESG space.

The ESG Phenomenon
The Monetary Authority of Singapore and Singapore Exchange have launched a digital disclosure portal for companies to report ESG data.

Known as ESGenome, the portal has been developed by the Singapore regulator and SGX Group under Project Greenprint. SGX-listed companies can now explain what they are doing in the sustainability space, SGX and MAS said in a statement this week.

“With corporate sustainability disclosures representing one of the largest sources of ESG data globally, there is great scope to harness technology to enhance such disclosures and comparability of data to support the financing decisions needed for a credible transition,” the statement said.

“Currently, the proliferation of multiple sustainability reporting frameworks and guidelines across jurisdictions, and the inconsistent manner in which data is being collected, verified and reported have created significant disclosure challenges and resulted in poor ESG data comparability,” it said.

The move is an example of efforts worldwide to expand the amount of data firms can and sometimes must disclose to investors about ESG behaviour. In the US, the Securities and Exchange Commission, controversially, requires firms to explain their impact on the environment. This move has been criticised as exceeding the regulator’s remit.

SaaS
ESGenome is a Software-as-a-Service solution operated by World Wide Generation. It helps SGX-listed companies to simplify the disclosure process by using a core set of metrics mapped across global standards and frameworks. 

Companies can carry out their baseline sustainability reporting based on a set of 27 SGX core ESG metrics.