The Sustainable Finance Institute Asia (SFIA) has named ESG Book as a technology partner for their Single Accesspoint for ESG Data (SAFE) pilot initiative, which works to provide ESG data to the Association of Southeast Asian Nations (ASEAN) markets.
SFIA has invited leading financial organizations across Southeast Asia to join the SAFE initiative in order to meet sustainability regulations and gain access to credible, transparent ESG data. ESG Book, the world’s largest sustainability disclosure platform, connects corporate entities with financial institutions and allows companies to make well-informed ESG investment decisions.
ESG Book’s platform was built on Google Cloud infrastructure and hosts over 10,000 users globally, containing over 150,000 ESG disclosures. The technology allows companies to disclose ESG data to stakeholders in a digitized, secure manner while streamlining disclosure workflows to reduce companies’ reporting burden. Further, the platform maintains compatibility with global disclosure requirements, such as the International Sustainability Standards Board (ISSB) standards.
“We are delighted that ESG Book is partnering with SFIA on its SAFE pilot Initiative to help address current ESG data requirements and disclosure gaps in ASEAN markets,” said Dr. Daniel Klier, CEO of ESG Book. “With our mission to power financial markets for a sustainable future through accessible, comparable, and transparent data, we are fully aligned with the SFIA’s vision to help shape the future of ESG data through a collaborative approach.”
There are 10 countries in ASEAN, including Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.
Growing Demands for ESG Data Improvements, SFIA’s Attempts to Meet Them
According to a recent Bloomberg report, executive interest in ESG spending and ESG data is increasing rapidly. While nearly all companies report the organizational value of ESG data, most also cite various challenges remaining in keeping up with constantly evolving standards and managing ESG data in general. A World Resource Institute analysis also named some major barriers to ESG reporting, including poor coverage across holdings, inconsistent reporting metrics, and limited transparency in ESG data.
SFIA’s pilot initiative works to respond to these concerns, claiming the need to address data and disclosure gaps by providing credible, comprehensive, and consistent information that enables informed decision-making. The system uses a community-centric approach to ESG data, which protects collective interests and allows for all stakeholders to be involved.
The ESG Book platform also responds to the ever-evolving nature of ESG disclosure by pre-populating ESG data on the platform based on publicly available information. Allowing companies the ability to directly request ESG disclosures from private companies combined with centralized access to public data allows for more straightforward ESG data access.