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Stacs to build blockchain-based registry for ESG certifications as part of MAS Project Greenprint

by Crypto News
November 9, 2021
in Blockchain
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Stacs to build blockchain-based registry for ESG certifications as part of MAS Project Greenprint
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Singapore FinTech firm, Hashstacs Pte Ltd (“STACS”) will likely be growing an industry-wide blockchain-based Setting, Social, and Governance (ESG) Knowledge and Certification Registry.

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That is in partnership with the Financial Authority of Singapore’s (MAS) Undertaking Greenprint.

The ESG Registry goals to offer accessibility to high quality ESG knowledge of assorted {industry} sectors by an aggregated platform. The ESG knowledge will embody sector-specific {industry} recognised certifications and real-time processed dynamic knowledge from different built-in applied sciences and sectorial platforms. The ESG Registry will likely be constructed utilizing STACS production-ready blockchain know-how, which supplies immutability and digitalisation as a single supply of reality. By APIs, the ESG Registry can assist varied downstream integrations akin to to assist FIs in commerce financing and portfolio monitoring.

Monetary establishments will profit from simpler entry to a tamperproof pool of digitally processed knowledge on sustainability initiatives throughout completely different {industry} sectors. The ESG Registry will join to varied certification our bodies and trusted sectorial platforms and purpose to assist end-to-end traceability and transparency of full enterprise worth chains. Additional knowledge aggregation of ESG knowledge might be carried out, creating the potential of steady impression reporting and monitoring. The target is to considerably enhance the standard of ESG knowledge out there, such that monetary establishments can extra confidently mobilise capital in the direction of ESG initiatives, within the type of sustainability-linked financing, investments or insurance coverage, and carbon credit buying and selling.

STACS has deep experience in offering DLT infrastructure for digitalisation within the monetary sector. Its purchasers and companions embody banks, inventory exchanges, asset managers, and corporates in numerous sectors. It has recognised the significance of sustainability, increasing its focus to technologically improve and allow sustainable practices. STACS was a winner on the MAS International FinTech Innovation Problem Awards 2020 below the Sustainability and Inexperienced Finance theme and awarded the Greatest FinTech ESG Resolution (Asset & Wealth Administration) on the DigFin Innovation Awards 2021.

The ESG Registry is presently deployed in its beta section, with prepared modules and APIs for integration, and can proceed to be enhanced primarily based on collective inputs from {industry} companions over the upcoming months. We’ve obtained expressions of curiosity to discover collaboration with the ESG Registry from varied

Monetary Establishments and organisations, with additional particulars of involvement and inputs from these organisations in Annex:

Monetary Establishments (alphabetical order):
• Aviva Singlife
• Citi
• OCBC Financial institution
• UBS
• UOB
Corporates and non-Monetary Establishments (alphabetical order):
• CDP (world environmental disclosure platform
• CO2 Join (CO2X) Pte Ltd (transport and logistics sector platform)
• Containers Printers (manufacturing sector platform)
• SGTraDex (provide chain platform)
• Surbana Jurong (constructing and development sector platform)

Benjamin Soh, Managing Director at STACS, shared: “It’s heartening to see extra dedication within the Inexperienced and Sustainability area by rising demand from monetary establishments for higher monitoring and measurements of inexperienced impacts. STACS is proud to companion the MAS on Undertaking Greenprint to collectively ship the Greenprint ESG Registry platform in the direction of reaching a vibrant inexperienced monetary ecosystem inside and past Singapore. Collective efforts and synergies between DLT and different applied sciences/platforms will expedite the achievement of a greener nation by servicing many world main monetary establishments and empowering all establishments (monetary and non-financial) to unlock impactful ESG methods for better business worth.”

Sopnendu Mohanty, Chief FinTech Officer at MAS, shared: “The ESG Registry platform goals to unravel two pertinent points in Inexperienced Finance – the dearth of transparency and belief in ESG certifications and the inefficiencies in accessing completely different certification requirements and necessities in numerous industries domestically, and even globally. MAS is comfortable to work with Hashstacs in bringing collectively completely different gamers in numerous industries and sectors to offer, confirm, certify and share knowledge in a safe an environment friendly method, in order to unlock inexperienced finance.”



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