2 weeks Ago By The Straits Times
Nine in 10 companies globally have expressed interest in environmental, social and governance reporting. SINGAPORE – Businesses will be able to access more tools for their sustainability reporting and a wider suite of solutions to meet their decarbonisation needs under Gprnt. The Monetary Authority of Singapore’s (MAS) digital platform for environmental, social and governance (ESG) reporting and data on Nov 6 released what it calls its Disclosure and Marketplace offerings.
Nine in 10 companies globally have expressed interest in ESG reporting as a means to address mounting compliance and stakeholder pressures, said Gprnt. However, many firms, especially small and medium-sized enterprises (SMEs), face numerous challenges to getting started. “The Gprnt Disclosure tool is designed to overcome these hurdles by offering a simple, automated, generative AI-powered solution to easily measure businesses’ Scope 1 and 2 emissions,” added Gprnt.
Scope 1 emissions refer to direct emissions incurred by a company, say, from its facilities or transport vehicles, while Scope 2 refers to indirect emissions such as the electricity or heating it buys from power generation companies. The Gprnt platform will be integrated with government databases and private sector solutions, so that SMEs can easily calculate their basic emissions. The platform will also allow firms to assess their reporting of basic emissions, climate risk management and green procurement, generating baseline ESG data.
The process of generating a sustainability report is often the most time-consuming and resource-intensive of an organisation’s sustainability programme, said Gprnt, noting that the platform enables firms to generate basic disclosure reports on demand. Gprnt Disclosure is free for all businesses’ individual use, with users retaining full control over their data and whom to share it with. For a fee, the tool can also be customised and deployed by larger organisations to collect data from their value and supply chains, and support their Scope 3 reporting efforts.
Scope 3 emissions refer to indirect greenhouse gas emissions incurred by a company as part of its value chain, such as business travel by employees, the use of its sold products or the emissions from its purchased goods and services. To help businesses better navigate overlapping sustainability solutions by various providers, Gprnt has also launched a Marketplace that pairs with Gprnt Disclosure. The service connects users to relevant solutions for them to act on their sustainability data.
Nearly 80 sustainability solutions are available through the service, spanning areas such as Scope 3 carbon accounting, decarbonisation, energy optimisation, and green and sustainability-linked financing. More initiatives are in the pipeline to expand industry participation in the Marketplace, and synchronise its listings with other key portals. These portals include the NetZeroHub.
SG, a free platform that helps firms calculate emissions by using around 200 factors that cater specifically to the Singapore context. Gprnt counts Ant International and MUFG Bank as its strategic partners. The platform is also supported by Microsoft and the newly-established Global Finance and Technology Network (GFTN).
Mr Ravi Menon, chairman of the GFTN board of directors and Singapore’s Ambassador for Climate Action, said the launch of Gprnt’s solutions is a milestone in Singapore’s sustainability journey. “Gprnt’s suite of solutions will provide businesses with digital infrastructure to access and report verifiable ESG data in a streamlined manner, strengthening their climate risk management and net-zero efforts,” he said. These solutions will be increasingly compelling as Gprnt scales regionally to support the broader transition across Asia, he added.
Users can expect the roll-out of new features over the next two years, such as an AI-powered sustainability assistant and an ESG data registry powered by aggregated insights from Gprnt’s user base. Gprnt said it will work closely with industry partners to drive adoption of these solutions in Singapore and overseas as well. From the first quarter of 2025, Gprnt will work closely with Ant International and MUFG Bank to tackle shared priorities such as sustainable supply chain financing.
Among other partnerships, the platform will also collaborate with Enterprise Singapore to enable Singapore companies obtain their basic emissions for disclosures. And it will work with the Ministry of Sustainability and the Environment (MSE) to explore ways to help Statutory Boards’ manage their data and publish their environmental sustainability disclosures. Join ST's Telegram channel and get the latest breaking news delivered to you.
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