The National University of Singapore (NUS), Northern Trust, and UOB have partnered to launch an initiative that uses blockchain technology to tokenise green bond credentials, enhancing transparency and integrity in ESG reporting.
This initiative focuses on leveraging blockchain to securely store and share environmental impact data, ensuring consistency and reliability for investors. The green bond reporting token, developed using Northern Trust’s Matrix Zenith platform, will contain data from NUS’ 2023 green bond. UOB is contributing feedback to align tokenised data with sustainability reporting standards.
The project is part of Project Guardian, a Monetary Authority of Singapore initiative exploring asset tokenisation for financial efficiency. By integrating blockchain with green finance, the collaboration aims to advance global standards for ESG transparency and reporting.
Tan Kian Woo, Senior Vice President and Chief Finance Officer at NUS said, “We are proud to be leading this first-in-market green bond reporting tokenisation initiative in partnership with Northern Trust and UOB. By creating a token that enhances the integrity and transparency of our environmental data, we aim to provide greater confidence to investors, helping them meet their sustainability reporting goals.”
Koh Yan Leng, Vice President (Campus Infrastructure) at NUS said, “In our pursuit of driving campus decarbonisation, we are equally committed to reporting the sustainability performance of our green buildings in a transparent, timely and reliable manner. Through this project, investors and stakeholders will get access to prompt updates to support their sustainability reporting needs. It also reflects NUS’ ongoing efforts to optimise energy use and reduce carbon emissions across our campuses.”
Justin Chapman, Northern Trust’s Global Head of Digital Assets and Financial Markets, highlighted the role of blockchain technology in advancing green finance, stating that the Matrix Zenith platform enhances the accuracy and transparency of green bond reporting. He emphasised that this approach addresses investor needs and supports the development of a more sustainable financial landscape.
Edmund Leong, UOB’s Head of Group Investment Banking, expressed the bank’s dedication to delivering sustainable finance solutions tailored to client needs. He noted that UOB’s involvement in the data tokenisation initiative focuses on providing practical insights into the applicability of tokenised data, ensuring it aligns with the requirements for transparent and dependable sustainability reporting.
