CDSC, MAS, SGX To Partner On Improving Global Access To Climate Data

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The Climate Data Steering Committee (CDSC) will partner with the Monetary Authority of Singapore (MAS) and Singapore Exchange (SGX Group, SGX: S68) on strengthening access to key climate transition-related data for stakeholders globally, the partners said in a joint statement.

The entities have signed a Memorandum of Understanding (MoU) aimed at generating synergies between the CDSC’s Net-Zero Data Public Utility (NZDPU) global repository and the ESGenome disclosure portal by MAS and SGX Group.

Now in its first phase of development, the NZDPU is an open and trusted central source of verifiable climate transition-related data, which will allow organizations and governments globally to track their climate progress.

ESGenome is a digital portal for sustainability reporting available to SGX-listed entities developed by MAS in partnership with SGX Group, as part of the former’s Project Greenprint platform launched in 2020.

Relevant: IFRS S1 & S2 Reporting Standards Will Now Require Climate And Sustainability Disclosures

“Collaboration is critical to achieving the goal of creating a unified source of global emissions data through the NZDPU that will drive the transparency and accountability needed for the net-zero transition,” Mary Schapiro, Chair of the CDSC, said in a comment.

Under the CDSC-MAS-SGX collaboration companies that report into ESGenome may consent for their information on Scope 1, 2 and 3 greenhouse gas (GHG) emissions to be transmitted to the NZDPU. The data will then be made available to the public free of charge through the NZDPU.

Future development plans include a possibility for ESGenome’s users to access NZDPU data via the ESGenome interface, transmit more varied information to the NZDPU, and even benchmark their climate progress against global and regional data, according to the statement.

Work on the CDSC-MAS-SGX collaboration is scheduled to start in the first quarter of 2024.

Read more: The Next Era Of Climate Disclosure Is Around The Corner

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