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Singapore's MAS opens ESG Impact Hub

Singapore's MAS opens ESG Impact Hub

The Monetary Authority of Singapore has launched an ESG Hub designed to spur collaboration between fintech startups, financial institutions and other stakeholders.

The hub will focus on building Singapore's ESG ecosystem through supporting fintechs in the field; anchoring "enablers" such as investors, knowledge partners and financial institutions; and backing stakeholders to drive "material, quantifiable impacts".

MAS says it already has 15 ESG fintechs and organisations set up at the hub as it builds up an onsite community that will ultimately boost financial sector access to high quality climate and sustainability data.

The hub will also act as an anchor for sustainability initiatives such as the Point Carbon Zero Programme run by MAS and Google Cloud, and KPMG's ESG Business Foundry.

Darian McBain, chief sustainability officer, MAS, says: "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."

Finextra recently announced its fifth Sustainable Finance Live conference and hackathon, scheduled to take place on 29 November. For more information and to register for this event, please visit the event page here.

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