DigitalCFO Newsroom | 17 August 2022
U-Reg and STACS partner to provide Singapore corporates with an intuitive Environmental Risk Questionnaire (ERQ) reporting platform and direct connectivity to ESGpedia, which powers the ESG Registry of the MAS’ Project Greenprint.
The Environmental Risk Questionnaire (‘ERQ’), launched earlier this year by the Association of Banks in Singapore (‘ABS’) for banks in Singapore, is now available for all corporates to digitally submit on U-Reg’s ESG reporting platform with direct connectivity and technical integration to ESGpedia by STACS. ESGpedia powers the ESG Registry of the Monetary Authority of Singapore’s (‘MAS’) Project Greenprint.
Corporates are facing growing pressure to collect and report ESG data. However, a fragmented reporting environment across industries and geographies is resource-consuming, creating significant hurdles for multi-national corporations and SMEs alike to embrace their ESG journey.
Leading Singapore-headquartered ESG FinTech firms, Hashstacs Pte Ltd (‘STACS’) and U-Reg Pte Ltd (‘U-Reg’) today announced their partnership to provide Singapore corporates across all sectors with an intuitive Environmental, Social, and Governance (‘ESG’) reporting platform with direct connectivity and technical integration of the Environmental Risk Questionnaire (‘ERQ’) to ESGpedia, which powers the ESG Registry of the Monetary Authority of Singapore’s (‘MAS’) Project Greenprint.
The U-Reg’s reporting platform leverages on its regulatory and data management expertise to provide Singapore corporates with a single point of interaction for their ESG reporting, eliminating data overlaps across ESG disclosures. Users are able to leverage the platform’s interoperability to automate generation of ESG reports and directly upload these seamlessly onto ESGpedia, with information then available for sharing to authorised counterparties via data consent management.
Developed by STACS, ESGpedia is a one-stop registry providing holistic ESG data across various sectors and global verified sources, with the necessary fintech tools to enable effective ESG finance. ESGpedia utilises blockchain technology to ensure immutability, transparency, and ease of access by different users. Powering the ESG Registry of the MAS’ Project Greenprint, ESGpedia is the central data pillar underpinning the financial sector, allowing banks and asset managers to make better-informed financing decisions, which in turn enables the effective mobilisation of ESG capital towards corporates and green projects to further corporates’ sustainability agendas.
The ERQ was launched earlier this year by the Association of Banks in Singapore (‘ABS’) for banks in Singapore to engage their corporate clients on environmental risk issues. It is an ESG corporate disclosure suitable for all corporates at any stage of their ESG journey.
The partnership between U-Reg and STACS provides an end-to-end reporting process for banks to ingest ESG information from their clients, existing or prospective, directly on ESGpedia, as a common, standardized registry for the financial sector. This marks a key milestone of the Project Greenprint industry-led initiatives, by facilitating investors’ and banks’ access to ESG data while making ESG reporting more accessible, affordable, and transparent for corporates and SMEs.