The Monetary Authority of Singapore (MAS) and Singapore Exchange (SGX Group) will collaborate with the Secretariat of the Climate Data Steering Committee (CDSC) so stakeholders around the world will have access to key climate transition-related data.

This includes, but is not limited to, data on entity-level emissions, net-zero transition strategies, transition-related investment, and climate-related risks and opportunities.

This collaboration will be leveraging the MAS Project Greenprint’s ESGenome disclosure portal and the CDSC’s Net-Zero Data Public Utility (NZDPU).

It will allow companies that report into ESGenome to transmit to the NZDPU their data on Scope 1, 2 and 3 greenhouse gas (GHG) emissions. This information will be made available by the NZDPU to the public at no charge.

This will help enhance the tracking of these companies’ climate commitments, and the companies will in turn benefit from access to the NZDPU’s global database to inform their own decarbonisation efforts.

Companies opting to share this information would be affirming their climate transition commitments at the global level, supporting greater transparency and accountability of net zero data, and strengthening their credibility amongst peers and investors.

MAS said that work on the collaboration will commence in the first quarter of 2024.

Mary Schapiro, Chair of the CDSC said,

“Collaboration is critical to achieving the goal of creating a unified source of global emissions data through the NZDPU that will drive the transparency and accountability needed for the net-zero transition.

We celebrate this ground-breaking commitment by the MAS and SGX Group to provide foundational climate transition-related data and hope it is the first of many partnerships that will help accelerate climate action across the globe.”

Ravi Menon, Managing Director, MAS said,

“The ability of firms to access reliable data on carbon emissions and disclose relevant climate-related information is critical for transition financing and decarbonisation efforts. This requires synergy and inter-operability across various climate-related data platforms in the world.

The collaboration between NZDPU and Project Greenprint’s ESGenome disclosure portal will help harmonise climate-related corporate disclosures from the ASEAN region with the NZDPU’s global template for key climate data.”

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• Source: https://fintechnews.sg/75609/green-fintech/mas-and-sgx-group-collaborate-with-cdsc-to-drive-global-climate-data-transparency/