The Sustainable Finance Institute Asia (SFIA) has partnered with STACS ESGpedia, appointing the firm as the official technology platform partner for the Single AccessPoint for ESG Data (SAFE) Initiative.
The move is set to enhance Environmental, Social, and Governance (ESG) data reporting across the ASEAN region by addressing data and disclosure gaps.
The SAFE Initiative is a regional effort aimed at uniting key stakeholders, including governments, regulators, financial institutions, and businesses, to streamline ESG data reporting processes.
By providing a comprehensive and consistent approach, the initiative seeks to enable seamless access to ESG data for all relevant parties within and beyond ASEAN.
STACS ESGpedia’s role as the ESG platform partner is pivotal in offering the necessary tools to support corporates, SMEs, and financial institutions in their sustainability reporting.
The partnership builds on a successful pilot of the SAFE Initiative in several ASEAN markets, including the Philippines, Vietnam, and Indonesia, earlier this year.
Benjamin Soh, Founder and Managing Director at STACS ESGpedia, highlighted the growing importance of ESG reporting, stating, “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.”
He expressed enthusiasm about collaborating with the SAFE Initiative, envisioning a strengthened ecosystem of partners to advance the region’s sustainability efforts.
Eugene Wong, CEO of SFIA, described the partnership as a significant milestone, emphasizing that the collaboration “marks a significant milestone in our journey towards a unified and accessible ESG data disclosure platform for the ASEAN region.”
He further noted that the SAFE Initiative, leveraging ESGpedia’s technology, will be instrumental in supporting businesses, especially SMEs, in disclosing credible ESG data vital for sustainable finance access and competitiveness in global markets.
The cross-border partnership between SFIA and ESGpedia was unveiled following the 40th ASEAN+3 Bond Market Forum in Kumamoto, Japan, solidifying a Memorandum of Agreement with the Global Reporting Initiative (GRI) to formalize the SAFE-Sustainability Innovation Lab (SIL) collaboration.
The SAFE Initiative’s alignment with GRI’s standards aims to foster interoperability across standards and jurisdictions, building regional capacity for sustainability disclosure.
As ESG reporting becomes increasingly critical amid emerging mandatory climate disclosures and policies, the SAFE Initiative and its strategic partnerships represent a timely response to the Asia Pacific region’s shift towards a green economy.
For further information on the SAFE Initiative, visit Sustainable Finance Institute Asia.
