31 May 2022
The partnership enables corporates and SMEs to achieve sustainability certification to scale up, as well as makes it easier for them to do ESG reporting and access sustainable financial services.
Singapore, 31 May 2022. With a common vision to enable sustainability amongst companies of all sizes, TÜV SÜD PSB (‘TÜV SÜD’) and Hashstacs Pte Ltd (‘STACS’) today announced their partnership on ESGpedia, via TÜV SÜD’s Sustainability-as-a-Service (SaaS) programme. ESGpedia registry, developed by STACS, powers the ESG Registry of the Monetary Authority of Singapore’s (‘MAS’) Project Greenprint, and was officially launched earlier this month (18 May) with more than 20 institutional partners, from both the financial and non-financial sectors, at the Project Greenprint Industry Showcase event.
As part of a long-term collaboration via ESGpedia, TÜV SÜD, the international testing, inspection, certification, and training company with German roots and STACS will be partnering across various industry sector playbooks which help corporates navigate ESG in a simple and direct manner, by obtaining sustainability certifications or training solutions (including but not limited to SaaS Programme) from TÜV SÜD. At the same time, TÜV SÜD will integrate with ESGpedia as a data provider by consolidating and providing certification data onto the ESGpedia registry.
ESGpedia is now in place as a common, standardised registry providing holistic and forward-looking environmental, social, and governance (ESG) data to make it easier for financial institutions, corporates, and organisations to access companies’ sustainability data from global certification bodies and verified sources. With no comparable registry globally, ESGpedia covers various industries, including building and construction, agriculture, carbon credit, palm oil, renewable energy, and more.
Recognising that some companies may find industry certifications costly and challenging to attain due to the manual processes involved and fragmented information available in the market, the partnership aims to enable corporates and SMEs who want to scale with sustainability in their corporate strategy, to achieve globally-recognised standards and certifications. The subsequent hosting of these companies’ sustainability data and certifications on ESGpedia, in turn also makes it easier for them to do ESG reporting and access sustainable financial services.
As part of the Enterprise Sustainability Programme (‘ESP’) by Enterprise Singapore, the SaaS Programme by TÜV SÜD helps businesses capture new opportunities in the green economy. The sustainability programme will support local companies in meeting customer and regulatory requirements through an online self-assessment, training, and certification approach, overall driving standards to fulfil companies’ sustainability roadmap. Under the SaaS Programme, eligible companies can adopt standards through sustainability training and certification with 70% funding of qualified costs.
Klaus Langner, Chief Financial Officer, TÜV SÜD ASEAN, South Asia, Middle East and Africa Region, said: “With our expertise and longstanding experience in testing, inspection, certification and training, we are pleased to support STACS on the aggregation of ESG information on ESGpedia to enable financial institutions and corporates to better mobilise capitals towards ESG projects. Through this partnership, we will work closely with STACS to contribute to realising Singapore’s Green FinTech ambitions.”
Benjamin Soh, Managing Director at STACS, said: “Sustainability requires a collective effort. Our partnership with TÜV SÜD furthers our mission to build a greener ecosystem, one in which companies of all sizes across all sectors, are enabled to navigate the challenges and opportunities in going green via holistic data on ESGpedia, and certifications via TÜV SÜD’s Sustainability-as-a-Service programme.”
STACS (Hashstacs Pte Ltd) is a Singapore-headquartered FinTech company focused on ESG FinTech, in partnership with the Monetary Authority of Singapore’s (MAS) Project Greenprint for ESGpedia which powers the Greenprint ESG Registry. STACS serves as the Nexus of ESG Finance with its live blockchain infrastructure that enables effective Sustainable Finance, and unlocks value in Asset and Wealth Management and Digital Securities. Its clients and partners include global banks, stock exchanges, asset managers, corporates, and SMEs. STACS is The Asset Triple A Digital Awards 2021 FinTech Start-Up of the Year, an Award Winner of the MAS Global FinTech Innovation Challenge Awards 2020, and also a two-time awardee of the Financial Sector Technology and Innovation (FSTI) Proof of Concept (POC) grant, under the Financial Sector Development Fund administered by the MAS.
About TÜV SÜD
Founded in 1866 as a steam boiler inspection association, the TÜV SÜD Group has evolved into a global enterprise. More than 25,000 employees work at over 1,000 locations in about 50 countries to continually improve technology, systems and expertise. They contribute significantly to making technical innovations such as Industry 4.0, autonomous driving and renewable energy safe and reliable.