Singapore Exchange (SGX) and the Monetary Authority of Singapore (MAS) have teamed up to launch a portal to help standardise companies’ reporting of environmental, social and governance (ESG) data.
MAS said in a statement that the newly-created ESGenome 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.
Companies can also make further disclosures in line with globally recognised ESG reporting standards across more than 3,000 ESG metrics.
A sustainability report can be automatically generated from the inputs.
MAS said that while there has been a growing focus on ESG, the proliferation of multiple reporting frameworks and guidelines across different jurisdictions, as well as the inconsistent manner in which data are collected, has made it difficult for investors to compare ESG data.
“ESGenome is designed to capture corporate sustainability disclosures in a simple and effective manner useful to investors and the broader capital market ecosystem,” said Michael Syn, senior managing director and head of equities at SGX.
“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.”
ESGenome falls under the umbrella of Project Greenprint, which is part of the regulator’s efforts to use technology and data to improve ESG transparency.
