On November 16, the Monetary Authority of Singapore (MAS) launched Gprnt, an integrated digital platform to help financial institutions and companies collect, analyse and process data related to "environmental, social and corporate governance (ESG)."。

It is understood that the platform is an important part of the "Greenprint" project initiated by MAS to provide enhanced digital reporting solutions for large enterprises and small and medium-sized enterprises (SMEs), so that they can seamlessly disclose their ESG information.。Currently, Gprnt is conducting field tests on selected banks and SMEs, and will be formally implemented in the first quarter of next year.。

ESG Data Disclosure Enters the Age of Automation

Gprnt, as an inclusive and actionable data layer, allows businesses to automatically transform their economic data into sustainability-related information, simplifying ESG governance reporting and allowing users (financial institutions, regulators, etc.) to access data for sustainable decision-making.。In addition, Gprnt will support features such as ESG data access and product innovation。

In terms of data collection, Gprnt will integrate a range of digital systems used by businesses in their daily activities, such as utility spending, bookkeeping and payroll solutions, construction and waste management, payment gateways, and artificial intelligence Internet of Things (AloT) sensor networks.。

In order to allow Singapore companies to complete their data collection more smoothly, Gprnt has also integrated Myinfo business to retrieve relevant data from trusted government sources through Singpass, ensuring the comprehensiveness and accuracy of sustainability indicators.。

Through these integrations, companies will access data directly through application programming interfaces (APIs) and can verify it from trusted data sources, allowing companies to calculate their basic sustainability metrics in an automated and efficient manner。

In terms of data calculation, Gprnt can convert and calculate source data into ESG metrics for enterprise reference.。If the source data is not available, the platform will use artificial intelligence tools such as Intelligent Document Processing (IDP) to extract key data from documents uploaded by users.。In addition, there are GPT-4-based chatbots that help companies compile sustainability disclosures and provide relevant advice。

In terms of data access, the Gprnt platform is extremely flexible, allowing companies to decide with whom to share ESG information, including:

• Financial institutions to obtain loans related to sustainable development;
• Industry partners for green business and supply chain opportunities;
• government or regulatory agencies to meet climate reporting requirements or apply for relevant grants;
• International platforms such as "Net Zero Data Utilities" to identify companies with climate transition commitments at the global level。

Expand cooperation to create a diverse user base

SMEs form the backbone of the global economy, and initially Gprnt focused on addressing the reporting needs of such businesses。For Singapore-based SMEs, MAS is consulting with government agencies such as the Accounting and Corporate Authority (ACRA), Enterprise Singapore and the Infocomm Media Development Authority (IMDA) on plans to incorporate global reporting standards into the platform to automate the generation of sustainability reports and reduce corporate disclosure costs.。

The Singapore Manufacturing Federation (SMF) has become the first industry association and chamber of commerce (TAC) to partner with Gprnt and has served around 5,000 SMEs.。

As the business expands, Gprnt will gradually expand its data network to meet the higher requirements of large multinational companies, financial institutions, supply chain participants and state agencies.。It is expected that the platform will build partnerships with organizations to jointly develop key modules for industry data collection and results tracking to better support the transformation of key industries such as energy, industry and real estate, and create a more sustainable and transparent environment for a diverse user base。

Gprnt will be managed by the newly formed Greenprint company and will work with a number of strategic partners from private and public organizations, including HSBC, KPMG, MAS, Microsoft and MUFG Bank of Japan, who will leverage their respective capabilities and expertise to support the commercialization of the platform and bring in more partners when appropriate.。

In addition, Gprnt will work with ESG data providers and core banking solution providers such as Temenos to promote the adoption of Gprnt automatic disclosure solutions and simplify the way bank users use data to obtain sustainable financing.。

Conclusion

Gprnt provides a key data bridge to generate the credible and high-quality ESG data needed by the financial industry to more effectively allocate funds to green programs and transformation measures。

Ravi Menon, Managing Director of MAS, said: "Greenprint demonstrates how regulators and industry can work together to build technology to enhance the quality and use of quality data, and the Gprnt platform will drive the next round of growth and innovation in the global ESG data space.。"

MAS believes that Gprnt will generate deeper synergies and play a transformative role in carbon emissions, ESG ratings and more。