The Monetary Authority of Singapore (MAS) has launched an ESG Impact Hub to spur co-location and collaboration between ESG FinTech startups in Singapore.
According to MAS, the hub will also anchor industry-driven sustainability initiatives such the Point Carbon Zero Programme and KPMG’s ESG Business Foundry.
MAS remarked that the establishment of the hub seeks to capitalise on the strong industry interest in Project Greenprint and expeditated the growth of Singapore’s ESG ecosystem in three areas.
These three key areas include growing ESG FinTechs, anchoring ESG enablers and supporting ESG stakeholders.
At the time of launch, 15 ESG FinTechs and organisations are already set up at the hub. MAS said it ‘will continue to engage key stakeholders in building the Hub’s onsite community, and fostering partnerships to enhance financial sector access to high quality climate and sustainability data, to support more efficient deployment of capital towards green and sustainable projects’.
MAS chief sustainability officer Darian McBain said, “The establishment of the ESG Impact Hub is a critical milestone in Project Greenprint’s journey to build a vibrant and robust ESG ecosystem in Singapore, underpinned by technology and data.
“This physical Hub will augment MAS’ plans to launch a digital Greenprint Marketplace next year to catalyse the growth of the region’s online ESG community; and will serve as the launchpad for public-private partnerships that support Asia’s just and sustainable transition to a low carbon economy.”
The MAS recently launched its Financial Services Industry Transformation Map 2025.
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Copyright © 2018 RegTech Analyst