General Announcement::News Release: SGX Group and MAS launch SGX ESGenome disclosure portal

Issuer & Securities

Issuer/ Manager
SINGAPORE EXCHANGE LIMITED
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
12-Sep-2022 09:05:24
Status
New
Announcement Sub Title
News Release: SGX Group and MAS launch SGX ESGenome disclosure portal
Announcement Reference
SG220912OTHR4CNZ
Submitted By (Co./ Ind. Name)
Chin May Nah
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
Singapore Exchange (SGX Group) and the Monetary Authority of Singapore (MAS) today jointly launched ESGenome, a digital disclosure portal for companies to report Environmental, Social and Governance (ESG) data in a structured and efficient manner, and for investors to access such data in a consistent and comparable format.

ESGenome is a joint initiative by SGX Group and MAS under Project Greenprint(1), to develop a common disclosure utility that will facilitate sustainability reporting for SGX-listed companies(2).

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. 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.

ESGenome is a Software-as-a-Service (SaaS) solution operated by World Wide Generation (WWG)(3). It helps SGX-listed companies simplify the disclosure process using a core set of metrics that is mapped across global standards and frameworks.
-- Companies can carry out their baseline sustainability reporting based on a set of 27 SGX core ESG metrics(4).
-- Companies can make additional disclosures in line with globally recognised ESG reporting standards and frameworks(5) across more than 3,000 ESG metrics, depending on materiality and their business needs.
-- Companies need only provide a one-time input for each ESG metric - these inputs can be automatically mapped across their selected standards and frameworks to cater to different investor requirements.
-- A sustainability report can be automatically generated from the inputs.

For investors and financial institutions, ESGenome provides access to relevant and comparable ESG data that allows for meaningful peer benchmarking and tracking of sustainability commitments and key performance indicators. This enables capital to be mobilised more efficiently toward sustainable companies and projects.

MAS will also draw on the learnings from ESGenome to address the reporting needs of the broader universe of corporates, notably small and medium-sized enterprises, and supply chain partners and suppliers, as part of its ongoing work on Project Greenprint.

Mr Michael Syn, Senior Managing Director and Head of Equities, SGX Group, said, "ESGenome is designed to capture corporate sustainability disclosures in a simple and effective manner 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."

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."

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."

(1) Project Greenprint is a collection of initiatives that aims to harness technology and data to enable a more transparent, trusted and efficient ESG ecosystem to enable green and sustainable finance. Please refer to MAS' media release on Project Greenprint.
(2) Spanning SGX-listed companies, business trusts and real estate investment trusts.
(3) WWG is a UK-based ESG solution provider. ESGenome is deployed on WWG's G17Eco platform.
(4) In 2021, SGX published a public consultation on a list of recommended 27 Core ESG metrics to align reporters and users of the information, allowing for greater consistency and comparability across companies and sectors.
(5) Global Reporting Initiative (GRI), Task Force on Climate-related Financial Disclosures (TCFD) and the UN Sustainable Development Goals (SDGs) are available for free. Sustainable Accounting Standards Board (SASB) and the Carbon Disclosure Project (CDP) are paid add-ons. International Sustainability Standards Board (ISSB) will also be considered in the future.

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