The Sustainable Finance Institute Asia (SFIA) has appointed STACS ESGpedia, a top provider of ESG data and technology solutions in Asia, as the official ESG platform partner for the Single AccessPoint for ESG Data (SAFE) Initiative.
The SAFE Initiative aims to address ESG data challenges by uniting governments, regulators, financial institutions, and other stakeholders across ASEAN and beyond to promote standardised data and disclosures.
STACS ESGpedia’s role is crucial in equipping corporates, SMEs, and financial institutions with tools for corporate sustainability and ESG reporting. This partnership offers a quasi-public utility model, enhancing accessibility for all stakeholders.
This collaboration complements SAFE’s recent Memorandum of Agreement (MoA) with the Global Reporting Initiative (GRI) on the Sustainability Innovation Lab (SIL). ESGpedia is a GRI-licensed platform and will support SAFE’s efforts to streamline ESG reporting across Asia-Pacific.
The announcement follows the successful completion of the SAFE pilot with ESGpedia in various ASEAN markets including the Philippines with Philippine Financial Market Infrastructure PDS Group, Vietnam with Bamboo Capital Group, and Indonesia with Funding Societies | Modalku earlier in 2023.
Through this partnership, SFIA will work with STACS ESGpedia to deploy ESGpedia in Asia-Pacific markets, supporting the region’s ESG efforts with regular corporate disclosures. ESGpedia offers a digital platform that simplifies ESG standards and frameworks, guiding companies on their sustainability journey. It features tools for calculating GHG emissions based on the GHG Protocol and ISO14064, tailored to the Asia-Pacific region’s emission factors, helping companies understand their carbon footprint. The platform also generates ESG reports that meet both international and local regulatory standards and provides data analytics and visualisation for companies and their supply chains.
The integration of STACS ESGpedia into the SAFE Initiative as its chosen technology platform aligns with the Asia-Pacific region’s push towards a green economy. This collaboration is timely, given the region’s upcoming mandatory climate disclosures and new policies for sustainable practices and reporting, including Scope 3 GHG emissions requirements.
Benjamin Soh, Founder and Managing Director at STACS ESGpedia said, “With the increasing requirement for ESG reporting impacting companies worldwide, there is a need for solutions in Asia to empower companies in the region, to ensure the supply chains of Asia remain resilient, sustainable and hence competitive in the face of global ESG regulations. Working with SAFE Initiative, we look forward to further expanding our growing partner ecosystem of government agencies, international organisations, and financial services providers, to provide holistic solutions for the real-world industries in Asia as we jointly advance the region’s sustainability transition.”
Eugene Wong, CEO of Sustainable Finance Institute Asia said, “We are pleased to announce our partnership with STACS ESGpedia, providing the key enabling technology for the SAFE Initiative as its reporting Platform. This collaboration marks a significant milestone in our journey towards a unified and accessible ESG data disclosure platform for the ASEAN region. By leveraging ESGpedia’s capabilities, we believe the SAFE Platform will provide much-needed support to businesses of all sizes, especially SMEs, to disclose credible ESG data that are crucial for accessing sustainable finance and competing in global supply chains.”