MAS And CDP To Jointly Promote Access To Quality ESG Data

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DigitalCFO Newsroom | 22 March 2022

The Monetary Authority of Singapore (MAS) and CDP signed a Memorandum of Understanding (MOU) to promote sustainability disclosures and access to quality ESG data across the financial sector and real economy.

The Monetary Authority of Singapore (MAS) and CDP , an international non-profit organisation that operates one of the world’s leading environmental disclosure systems for companies and sub-national governments, signed a Memorandum of Understanding (MOU) to promote sustainability disclosures and access to quality ESG data across the financial sector and real economy.

To enable financial institutions and corporates to better measure and monitor their ESG performance and impact, MAS and CDP will collaborate to:

  • explore the exchange of information between CDP’s disclosure system and MAS’ Project Greenprint (a technology and data platform for high-quality ESG data) to enhance financial institutions’ access to ESG data; and  implement capacity building programmes for corporates and financial institutions on climate disclosures. 
  • CDP’s environmental disclosure system allows investors, companies and cities to measure and manage their environmental impacts. CDP has one of the world’s most comprehensive collection of self-reported data from companies globally. This has significant synergies with Project Greenprint. The partnership between MAS and CDP aims to support financial institutions in their sustainable finance and investment decisions by providing access to transparent, trusted and efficient ESG data. 
  • Paul Simpson, Chief Executive Officer, CDP, commented, “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.”

Source: Monetary Authority of Singapore

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