Singapore Exchange (SGX) and China’s OneConnect Financial Technology, the technology arm of Ping An Insurance, are teaming up to develop an environmental, social and governance (ESG) platform.
OneConnect says it will facilitate and simplify ESG disclosure processes of SGX-listed companies and help them overcome common challenges of dealing with related information.
“These challenges include lack of comparability, changing investors' demand, as well as the evolving business landscape and regulations,” the firm says in a statement on February 24.
The platform will feature workflow management systems, report and visualisation modules and an ESG disclosure framework mapping to meet ESG reporting and data processing needs of listed companies.
It will help them “efficiently manage and make their sustainability disclosures for possible benchmarking more transparent”, according to Tan Bin Ru, OneConnect’s chief executive officer for Asia.
“This may help to improve the standard of overall ESG performance in the long run,” she says in the statement.
SGX Senior Managing Director Michael Syn adds that the platform will help the companies report on ESG with more effective alignment to major disclosure standards.
"For investors, the benefit is more seamless integration of this core set of indicators into their investment strategies and capital allocation across portfolios, lowering the information friction they currently face,” he says.