Singapore FinTech STACS to Create Blockchain-Based Ledger for ESG Certifications and Verified Data


Hashstacs Pte Ltd (“STACS”), to develop a blockchain-based environmental, social and governance (ESG) certification and data registry, in partnership with the MAS Greenprint project

SINGAPORE, Nov. 10, 2021 / PRNewswire / – Singapore-based FinTech company Hashstacs Pte Ltd (“STACS”) will develop a blockchain-based environmental, social and governance (ESG) certification and data registry. This is in partnership with the Monetary Authority of that of Singapore (MAS) Greenprint Project.

The ESG register aims to provide accessibility to quality ESG data from various industrial sectors through an aggregated platform. ESG data will include industry-recognized and sector-specific certifications and dynamic data processed in real time from other integrated technologies and industry platforms. The ESG ledger will be built using production-ready STACS blockchain technology, which offers immutability and digitization as a single source of truth. Through APIs, the ESG ledger can support various downstream integrations, for example to support FIs in trade finance and portfolio monitoring.

Financial institutions will benefit from easier access to a tamper-proof pool of digitally processed data on sustainability projects in different industrial sectors. The ESG Registry will connect to various trusted certification bodies and industry platforms and aim to support end-to-end traceability and transparency of complete business value chains. Further aggregation of ESG data can be done, creating the potential for ongoing impact reporting and monitoring. The objective is to significantly improve the quality of the ESG data available, so that financial institutions can raise capital with more confidence for ESG projects, in the form of financing, investments or insurance linked to development. sustainability and carbon credit trading.

STACS has deep expertise in providing DLT infrastructures for digitization in the financial sector. Its clients and partners include banks, stock exchanges, asset managers and companies from different industries. He recognized the importance of sustainability, broadening his scope to improve technologically and enable sustainable practices. STACS was winner of the MAS Global FinTech Innovation Challenge Awards 2020 under the theme Sustainability and Green Finance and awarded the best ESG FinTech (Asset & Wealth Management) solution at the DigFin Innovation Awards 2021.

The ESG ledger is currently deployed in its beta phase, with modules and APIs ready to be integrated, and will continue to be improved based on collective contributions from industry partners over the coming months. We have received expressions of interest to explore the collaboration with the ESG registry of various financial institutions and organizations, with more details on the involvement and contributions of these organizations in Annex:

Financial institutions (alphabetical order):

  • Aviva singlife
  • Citi
  • OCBC Bank
  • UBS
  • UOB

Businesses and non-financial institutions (alphabetical order):

  • CDP (Global Environmental Disclosure Platform)
  • CO2 Connect (CO2X) Pte Ltd (platform for the transport and logistics sector)
  • Container printers (manufacturing sector platform)
  • SGTraDex (supply chain platform)
  • Surbana Jurong (building and construction sector platform)

Benjamin Soh, CEO of STACS, shared: “It is encouraging to see more engagement in green space and sustainable development thanks to the growing demand from financial institutions for better monitoring and better measurement of green impacts. STACS is proud to partner with MAS on Project Greenprint to jointly provide the Greenprint ESG Registry platform towards achieving a vibrant green financial ecosystem within and beyond Singapore. Collective efforts and synergies between DLT and other technologies / platforms will accelerate the achievement of a greener nation by serving many leading financial institutions and empowering all institutions (financial and non-financial) to unlock impactful ESG strategies for greater business value. “

Sopnendu Mohanty, Chief FinTech Officer at MAS, shared: “The ESG registry platform aims to address two relevant issues in the field of green finance: the lack of transparency and trust in ESG certifications and inefficiencies in accessing different standards and requirements. certification in different industries nationally, and even globally. MAS is happy to work with Hashstacs to bring together different actors in different sectors and industries to provide, verify, certify and share data in a secure and efficient way, in order to unlock green finance.

Learn more about Project Greenprint: https://www.mas.gov.sg/news/media-releases/2021/mas-and-industry-to-pilot-digital-platforms-for-better-data-to-support – green finance

A media kit is available here.

APPENDIX – Details of the involvement and contributions of partners (alphabetical order)

  1. CDP

    As the first platform to link environmental integrity and fiduciary duty for companies, CDP is pleased to partner with STACS and contribute to the transparency of environmental action by companies in Singapore. CDP is a global, non-profit organization that manages the global environmental disclosure system for businesses, cities, states and regions. Founded in 2000 and working with over 590 investors with over 110 trillion dollars in assets, CDP was the first to use capital markets and corporate purchasing to motivate companies to disclose and address their environmental impacts. More than 14,000 organizations around the world disclosed data through CDP in 2021, including more than 13,000 companies representing more than 64% of the global market capitalization and more than 1,100 cities, states and regions. Fully aligned with TCFD, CDP holds the world’s largest environmental database, and CDP scores are widely used to guide investment and procurement decisions towards a zero carbon, sustainable and resilient economy. CDP is a founding member of the Science Based Targets initiative, the We Mean Business Coalition, The Investor Agenda and the Net Zero Asset Managers initiative.

  2. CO2 Connect (CO2X) Pte Ltd

    CO2 Connect (CO2X) Pte Ltd is a one-stop sustainability platform for companies in the transport and logistics industry. Its initial institutional partners include Aviva Singlife, OCBC Bank, UOB, and pilot users include nearly 10 corporate fleet owners in the transportation and logistics industry, including Bok seng, CWT, EVFY, FoodXervices, Chuan Lim and Tiong Seng.
    (A fact sheet is provided for more information on CO2X and the involvement of its partners, including Aviva Singlife, OCBC Bank and UOB.)

  3. Container printers

    Containers Printers seeks to create a platform to help manufacturing companies create reliable carbon avoidance certificates, by scanning and validating their carbon emissions. Based on the needs of the packaging industry and working with partners like Evercomm Singapore, the platform will enable companies to measure and monitor the environmental footprint of their operations in accordance with international standards, and meet their reporting and disclosure needs. The platform will help improve the transparency, trust and efficiency of the reporting process for companies and their stakeholders.

  4. SGTraDex

    SGTraDex is a data sharing infrastructure connecting the global supply chain ecosystem that acts as a data highway for the flow of information in global supply chains to facilitate, accelerate and extend connectivity between ecosystem participants. It is a fully encrypted, neutral, private and secure way for participants to share supply chain data. SGTraDex is used to solve ecosystem challenges through use cases led by industry participants and supported by government. We are excited to partner with STACS on the ESG Registry to enable connectivity and ensure that decision making regarding green trade finance is simple yet rigorous and data-driven.
  5. Surbana Jurong

    Surbana Jurong is pleased to have provided the common data environment platform that meets industry specific requirements for the ESG register. This takes advantage of the Surbana Jurong asset management platform – 24K – which uses a wide range of advanced technologies such as smart sensors, real-time monitoring and data analysis. Coupled with its range of technical know-how and technological capabilities, Surbana Jurong is working with STACS and partners to make this platform a reality for the construction industry of Singapore. Surbana Jurong Group is a global, multidisciplinary urban planning, infrastructure and managed services consulting firm, with more than 120 offices in more than 40 countries and more than 70 years of experience in delivering successful projects. Based at Singapore, the group has a global pool of more than 16,000 talents through Surbana Jurong and its member companies – AETOS, Atelier Ten, B + H, KTP, Prostruct, RBG, SAA, Sino-Sun and SMEC.

About STACS (https://stacs.io/)

STACS (Hashstacs Pte Ltd) is a Singaporean FinTech company providing transformative technology for the financial industry, with its live blockchain platform that unlocks value in asset and wealth management and digital securities, and enables efficient sustainable finance. Its clients and partners include global banks, exchanges and asset managers. STACS is the FinTech start-up of the year at the Asset Triple A Digital Awards 2021, winner of the Monetary Authority of Singapore (MAS) Global FinTech Innovation Challenge Awards 2020, and also twice winner of the Financial Sector Technology and Innovation (FSTI) Proof of Concept (POC) Grant, under the Financial Sector Development Fund administered by MAS.

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