ESGpedia named official platform partner for SAFE Initiative

The Sustainable Finance Institute Asia (SFIA) has appointed ESGpedia, a prominent ESG data and technology solutions company, as the official ESG platform partner for the Single AccessPoint for ESG Data (SAFE) Initiative.

This partnership announcement follows the successful completion of a pilot programme involving ESGpedia in various ASEAN markets, including the Philippines, Vietnam, and Indonesia.

The SAFE Initiative aims to provide credible, comprehensive, and consistent ESG data reporting across ASEAN by addressing data and disclosure gaps. This regional approach involves collaboration among governments, regulators, standard setters, financial institutions, corporates, and SMEs. The initiative leverages ESGpedia's suite of technology solutions to streamline and simplify ESG data collection and reporting processes for businesses.

"With the increasing requirement for ESG reporting impacting companies worldwide, there is a need for solutions in Asia to empower companies in the region," said Benjamin Soh, Founder and Managing Director at STACS ESGpedia.

Soh continued, "We are honoured for ESGpedia to be the official ESG platform powering the SAFE Platform and to provide our full end-to-end suite of solutions to support companies of any size, from day one to full ESG readiness. Working with the 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 real world industries in Asia as we jointly advance the region's sustainability transition."

The SAFE Initiative is intended to bring together key stakeholders to champion data and disclosures in the ASEAN region and beyond. This approach aims to deliver the necessary tools to support corporates, SMEs, and financial institutions in their sustainability and ESG reporting journeys.

ESGpedia's digital platform aims to simplify various ESG standards and frameworks, offering tools to automatically calculate greenhouse gas (GHG) emissions according to the GHG Protocol and ISO14064 standard. Additionally, it allows for the localisation of emissions factors within the Asia-Pacific region and provides data analytics and visualisation services.

The partnership between SFIA and ESGpedia also aligns with recent developments in regional sustainability efforts. This includes the signing of a Memorandum of Agreement (MoA) between SFIA and the Global Reporting Initiative (GRI) on the Sustainability Innovation Lab (SIL). The MoA was formally unveiled after the 40th ASEAN+3 Bond Market Forum (ABMF) Meeting in Kumamoto, Japan.

Eugene Wong, CEO at Sustainable Finance Institute Asia, remarked on the collaboration's significance: "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. Working with STACS ESGpedia and SIL, the SAFE Initiative promotes interoperability across standards and jurisdictions, and develops sustainability disclosure capacity for the region. Together, we are committed to driving transparency, accountability, and informed decision-making in the sustainable finance ecosystem across ASEAN and the global markets," Wong said.

SFIA's initiative and the collaboration with ESGpedia come at a crucial time as the Asia-Pacific region accelerates towards a green economy. Upcoming mandatory climate disclosures and new policies aim to enable sustainable practices and reporting, including requirements for Scope 3 GHG emissions reporting.

This partnership is expected to facilitate the ESG journey in the Asia-Pacific markets by supporting regular corporate disclosures and offering functionalities to produce ESG reports according to both international and local regulatory standards. The collaboration intends to bolster sustainability efforts throughout the region, promoting transparency and aiding in the transition to more sustainable business practices.