Skip to content
  • About
  • Partner with Us
  • Press Release Guidelines
  • Op-ed Guidelines
  • Indonesia
Primary Menu
  • Home
  • Latest
  • News
  • Brief
  • Interview
  • Opinion
  • Figure
  • Youth
  • SDGs
  • Topics
  • #LetterfromtheFounder
  • Featured
  • News

Growing Singapore’s ESG Ecosystem with ESG Impact Hub

The Hub intends to be the place of collaboration between ESG FinTech start-ups, financial institutions, and all the related stakeholders and anchors industry-driven sustainability initiatives.
by Kresentia Madina December 19, 2022
an aerial shot of three men in the middle of a discussion

Photo by Visual Tag Mx on Pexels.

Today, it is increasingly vital for us to make conscious decisions rooted in sustainability. Companies, in particular, are being held responsible by their consumers and investors regarding their impacts on social, environmental, and governance aspects, otherwise known as ESG. In support of sustainable financing, the Monetary Authority of Singapore (MAS) recently launched a financial collaboration hub called ESG Impact Hub.

What is ESG Impact Hub?

ESG refers to standards that reflect a company’s impact on environmental, social, and governance externalities. Usually, these standards become indicators for consumers, who want to make environmentally and socially conscious consumption, and investors, who want to assess a company’s risk and growth opportunities.

On October 5, the Monetary Authority of Singapore launched the ESG Impact Hub, located at the Afro-Asia building. The Hub intends to be the place of collaboration between ESG FinTech start-ups, financial institutions, and all related stakeholders. Not only that, but the Hub will also anchor industry-driven sustainability initiatives such as the Point Carbon Zero Programme and KPMG’s ESG Business Foundry. 

“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 catalyze 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,” said Dr. Darian McBain, Chief Sustainability Officer of the MAS.

Growing Singapore’s ESG Ecosystem

By establishing the Hub, the MAS wants to build on the industry’s strong interest in Project Greenprint and accelerate the growth of Singapore’s ESG ecosystem. Therefore, the Hub will focus on three aspects below:

  • Growing ESG FinTechs by facilitating end-to-end technology solutions to address the ESG needs of corporates and financial institutions, particularly on the accurate climate and sustainability data.
  • Anchoring ESG Enablers by engaging with knowledge partners, financial institutions, and investors to organize external key ESG initiatives, such as ESG FinTech accelerator programs, training, capacity-building workshops, and thought leadership events.
  • Supporting ESG Stakeholders by engaging the Hub community to deploy its programs and solutions to drive the material, quantifiable impacts that support sectoral transition efforts, particularly on the eight focus sectors identified by the Green Finance Industry Taskforce (GFIT).

Developing sustainable financing requires a strong collaboration between companies, investors, and financial institutions. On the launching day, 15 ESG FinTechs and organizations joined and settled at the Hub. To further foster Singapore’s ESG ecosystem, the MAS needs to continue engaging key stakeholders, building communities, and fostering partnerships that can strategically enhance the nation’s financial sector toward sustainability.

Editor: Nazalea Kusuma

Thank you for reading!
If you find this article insightful, subscribe to our Weekly Newsletter to stay up-to-date with sustainable development news and stories from multistakeholder communities in the Asia Pacific and beyond.
SUBSCRIBE NOW
Kresentia Madina
Website | + posts

Madina is an In-House Reporter & Researcher at Green Network Asia. She covers Global, Southeast Asia, East Asia, and Australasia.

  • Kresentia Madina
    https://greennetwork.asia/author/kresentiamadina/
    Singapore To Improve Indoor Air Quality with New Guidelines
  • Kresentia Madina
    https://greennetwork.asia/author/kresentiamadina/
    Childhood Obesity: Stigma, Impacts, and Interventions
  • Kresentia Madina
    https://greennetwork.asia/author/kresentiamadina/
    ASEAN Tourism Recovery Plan Post COVID-19
  • Kresentia Madina
    https://greennetwork.asia/author/kresentiamadina/
    Contributing to Good, Clean, and Fair Local Food Systems with Slow Food

Continue Reading

Previous: Empowering Migrants Against Climate Disasters
Next: Three Tips for a More Sustainable Gift-Giving

Related Stories

a snow leopard cub eyeing its prey Snow Leopards Conservation Efforts in Central Asia
  • Featured
  • News

Snow Leopards Conservation Efforts in Central Asia

by Kresentia Madina March 20, 2023
a woman wearing a mask throwing an empty cup to a trash bin Urban Waste Management: How Your City Can Help You Recycle
  • Brief
  • Featured

Urban Waste Management: How Your City Can Help You Recycle

by Kresentia Madina and Nazalea Kusuma March 17, 2023
Dipterocarp trees in a forest in Kalimantan, Indonesia. Carbon Offset in Southeast Asia: Assessing Benefits and Opportunities
  • Brief
  • Featured

Carbon Offset in Southeast Asia: Assessing Benefits and Opportunities

by Lalita Fitrianti March 16, 2023
a band with four members are playing in front of audiences under orange-hued lights Decent Work and Rights Protection for Arts and Entertainment Workers
  • Featured
  • News

Decent Work and Rights Protection for Arts and Entertainment Workers

by Kresentia Madina March 15, 2023
an empty emergency tent Sindh Rehabilitation Project: Rebuilding Lives and Strengthening Disaster Response
  • Featured
  • News

Sindh Rehabilitation Project: Rebuilding Lives and Strengthening Disaster Response

by Kresentia Madina March 14, 2023
macro closeup of a black soldier fly looking at the camera Science & Technology for Sustainable Insect Farming
  • Featured
  • News

Science & Technology for Sustainable Insect Farming

by Nazalea Kusuma March 13, 2023
  • Latest
  • Popular
  • Partner
  • a snow leopard cub eyeing its prey Snow Leopards Conservation Efforts in Central Asia
    • Featured
    • News

    Snow Leopards Conservation Efforts in Central Asia

  • a woman wearing a mask throwing an empty cup to a trash bin Urban Waste Management: How Your City Can Help You Recycle
    • Brief
    • Featured

    Urban Waste Management: How Your City Can Help You Recycle

  • Dipterocarp trees in a forest in Kalimantan, Indonesia. Carbon Offset in Southeast Asia: Assessing Benefits and Opportunities
    • Brief
    • Featured

    Carbon Offset in Southeast Asia: Assessing Benefits and Opportunities

  • a band with four members are playing in front of audiences under orange-hued lights Decent Work and Rights Protection for Arts and Entertainment Workers
    • Featured
    • News

    Decent Work and Rights Protection for Arts and Entertainment Workers

  • an empty emergency tent Sindh Rehabilitation Project: Rebuilding Lives and Strengthening Disaster Response
    • Featured
    • News

    Sindh Rehabilitation Project: Rebuilding Lives and Strengthening Disaster Response

  • The green landscape of Semakau Island in Singapore Semakau Island, the Green Landfill in Singapore
    • Featured
    • News

    Semakau Island, the Green Landfill in Singapore

  • Indonesian spices as cultural heritage Enthusiasts Reclaim Spices’ Cultural Heritage, Launch Spice Hub Indonesia
    • Featured
    • News

    Enthusiasts Reclaim Spices’ Cultural Heritage, Launch Spice Hub Indonesia

  • illustration of National SDG tracker by Unescap UNESCAP Supports “Build Back Better” with the National SDG Tracker
    • Featured
    • News

    UNESCAP Supports “Build Back Better” with the National SDG Tracker

  • Beena Rao and Her Fight for Education for the Children of the Slums
    • Figure

    Beena Rao and Her Fight for Education for the Children of the Slums

  • Muslimat NU of Bojong-Tegal Campaigns Environmental Protection, Reduces Waste Production
    • Featured
    • News

    Muslimat NU of Bojong-Tegal Campaigns Environmental Protection, Reduces Waste Production

  • green big containers, blue building, and large tube at Hamparan project site B-Corp Certified Gree Energy’s Commitments for Food Industry Decarbonization
    • Featured
    • News
    • Partner

    B-Corp Certified Gree Energy’s Commitments for Food Industry Decarbonization

  • the TEPI Talks #4 event poster Media Engagement Workshop for Sustainable Grassroots Movements by Women’s Earth Alliance Indonesia
    • Featured
    • News
    • Partner

    Media Engagement Workshop for Sustainable Grassroots Movements by Women’s Earth Alliance Indonesia

  • Bali Grows Arms for Stronger Economic Recovery
    • Brief
    • Featured
    • Partner

    Bali Grows Arms for Stronger Economic Recovery

  • The illustration of Harm Reduction with the fundamental purpose of upholding the safety and dignity of all people. An Introduction to Harm Reduction
    • Brief
    • Featured
    • Partner

    An Introduction to Harm Reduction

  • A young adult from we day ugm and three elementary schoolers planting mangrove seed. Photo is taken from above and shows only their heads and backs. WE Day UGM 2022: Raising Awareness on Climate Change and Encouraging Community Empowerment
    • Featured
    • News
    • Partner

    WE Day UGM 2022: Raising Awareness on Climate Change and Encouraging Community Empowerment

About Us

  • About
  • The Team
  • Partner with Us
  • Sponsored Content
  • Contribute to Our Mission
  • Press Release Guidelines
  • Op-ed Guidelines
  • Advisory Network
  • Youth Advisory Network
  • Author Network
  • FAQ
  • Work with Us
  • Contact Us
  • Terms of Service
  • Privacy Policy
  • FAQ
  • Contact Us
  • Telegram
  • Etsy
  • Tokopedia
  • Media Link 11
  • Media Link 12
  • Media Link 13
  • Media Link 14
  • Media Link 15
© 2023 Green Network Asia