MAS and SGX Group to collaborate with the Climate Data Steering Committee to strengthen global access to climate transition-related data

The Monetary Authority of Singapore, MAS, has published a press release to inform that the Secretariat of the Climate Data Steering Committee (CDSC) (please see the comment box below for more information on the committee), the Singapore Exchange (SGX Group), and MAS itself have signed a „Memorandum of Understanding (MoU) to collaborate on strengthening access by stakeholders around the world to key climate transition-related data“.
Specifically, the parties seek to collaborate in bringing together MAS‘ technology and data platform for high-quality ESG data called ESGenome and the CDSC’s Net-Zero Data Public Utility (NZDPU) global repository of climate transition-related data. Singapore firms, including small, medium, and large ones, will be able to file their ESG data (e.g. scope 1, 2, and 3 greenhouse gas emissions) via ESGenome and directly transfer this data to the NZDPU repository which itself will store and aggregate the ESG-related data and make it available to the public at no cost. Such data may include the beforementioned GHG emissions and any ESG targets outlined by the firms. Over time, the global repository held by CDSC will continue to grow allowing users to compare ESG-related data of firms and holding them responsible for their commitments.
Also, the parties plan to facilitate access to the CDSC directly via ESGenome and permit the submission of more varied ESG-related data to the repository in the future. The project is expected to start in the first quarter of 2024. According to MAS, firms that decide to share their ESG information with the repository and make it available to a global audience „would be affirming their climate transition commitments“, thereby increasing credibility among industry participants and financial market players.