The Sustainable Finance Institute Asia (SFIA) has appointed STACS ESGpedia as the official ESG platform partner for its SAFE Initiative, aiming to streamline ESG data management and reporting across ASEAN. This partnership, aligned with the Global Reporting Initiative, will provide crucial support for businesses, particularly SMEs, in their sustainability efforts as the Asia-Pacific region moves towards mandatory climate disclosures.
15 August 2024 – The Sustainable Finance Institute Asia (SFIA) has appointed STACS ESGpedia, Asia’s leading Environmental, Social, and Governance (ESG) data and technology solutions provider, as the official ESG platform partner for its Single AccessPoint for ESG Data (SAFE) Initiative. This initiative represents a significant regional effort to address the challenges of ESG data management by bringing together key stakeholders such as governments, regulators, standard setters, financial institutions, corporates, and SMEs across ASEAN and beyond.
STACS ESGpedia’s appointment as the official ESG platform partner is a crucial step in providing the necessary tools to support corporates, SMEs, and financial institutions in their ESG reporting and sustainability efforts. By leveraging ESGpedia’s digital platform, the partnership offers a quasi-public utility approach that enables equitable access to ESG data and disclosures for all stakeholders involved.
This collaboration aligns with SAFE’s recently signed Memorandum of Agreement (MoA) with the Global Reporting Initiative (GRI) on the Sustainability Innovation Lab (SIL), further solidifying the partnership’s commitment to advancing ESG standards and practices in the region. The SAFE-SIL collaboration was officially unveiled at the 40th ASEAN+3 Bond Market Forum (ABMF) Meeting in Kumamoto, Japan, following the successful completion of the SAFE pilot with ESGpedia in several ASEAN markets, including the Philippines, Vietnam, and Indonesia.
Through this partnership, SFIA and STACS ESGpedia aim to facilitate the Asia-Pacific region’s ESG journey by providing a unified platform for regular corporate disclosures. ESGpedia simplifies various ESG standards and frameworks, offering digital tools that automatically calculate greenhouse gas (GHG) emissions in accordance with the GHG Protocol and ISO14064 standard. These tools are localized to the emissions factors of countries within the Asia-Pacific region, enabling companies to gain insights into their carbon footprints. Additionally, ESGpedia allows businesses to produce ESG reports that comply with both international and local regulatory standards, providing data analytics and visualization services for reporting entities, their supply chains, and financial portfolios.
The launch of STACS ESGpedia within the SAFE Initiative is particularly timely as the Asia-Pacific region accelerates its transition to a green economy. With upcoming mandatory climate disclosures and new policies aimed at enabling sustainable practices, including Scope 3 GHG emissions reporting, the partnership between SFIA and STACS ESGpedia is set to play a pivotal role in the region’s sustainability journey.
Benjamin Soh, Founder and Managing Director of STACS ESGpedia, expressed his enthusiasm for the collaboration, stating, “With the increasing demand for ESG reporting, there is a pressing need for solutions in Asia that empower companies to remain resilient, sustainable, and competitive under global ESG regulations. We are honored to be the official ESG platform powering the SAFE Initiative, and we look forward to expanding our ecosystem of partners to advance the region’s sustainability transition.”
Eugene Wong, CEO of SFIA, emphasized the significance of the partnership, saying, “This collaboration marks a milestone in our efforts to create a unified and accessible ESG data disclosure platform for ASEAN. By leveraging ESGpedia’s capabilities, the SAFE Platform will provide essential support to businesses, particularly SMEs, to disclose credible ESG data that is crucial for accessing sustainable finance and thriving in global supply chains.”
