SINGAPORE, 17 August 2022 – The Environmental Risk Questionnaire (‘ERQ’), launched earlier this year by the Association of Banks in Singapore (‘ABS’) for banks in Singapore [1], 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.
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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.
[1] Press Release by the ABS on 21 April 2022 announcing the launch of the ERQ – https://www.abs.org.sg/docs/library/media-release_abs-launches-industry-standard-template-for-banks-to-engage-corporate-clients-on-environmental-risk-issues.pdf
For further information, please contact:
STACS (https://stacs.io/)
Grace Lim, Senior Marketing Manager
Phone: +65 8511 7770
Email: [email protected]
U-Reg (https://www.u-reg.com/)
Solyh Ahmad, Project Lead
Email: [email protected]
About STACS
STACS (Hashstacs Pte Ltd) is a Singapore-headquartered FinTech company focused on ESG FinTech, in partnership with the Monetary Authority of Singapore’s (MAS) Project Greenprint for ESGpedia which powers the Greenprint ESG Registry. STACS serves as the Nexus of ESG Finance with its live blockchain infrastructure that enables effective Sustainable Finance, and unlocks value in Asset and Wealth Management and Digital Securities. Its clients and partners include global banks, stock exchanges, asset managers, corporates, and SMEs. STACS is The Asset Triple A Digital Awards 2021 FinTech Start-Up of the Year, an Award Winner of the MAS Global FinTech Innovation Challenge Awards 2020, and also a two-time awardee of the Financial Sector Technology and Innovation (FSTI) Proof of Concept (POC) grant, under the Financial Sector Development Fund administered by the MAS.
About U-Reg
U-Reg is a Singapore-based RegTech, certified by the Singapore Fintech Association. U-Reg leverages technology to help clients meet regulatory obligations with ease, whether financial reporting, KYC, on-boarding, or ESG. U-Reg’s ESG solutions leverage technology, collaboration, and interoperability to streamline users’ ESG data collection, structuring, and sharing. Amongst other accolades U-Reg is the winner of the Investment Management Association of Singapore (IMAS) DAP 2021 industry problem statement on data management. U-Reg was twice awarded the Financial Sector Technology and Innovation (FSTI) Proof of Concept (POC) grant, under the Financial Sector Development Fund administered by the MAS.
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