The two sides have signed a memorandum of understanding to collaborate and build a platform to facilitate and simplify the ESG disclosure processes of companies listed on the bourse.
Singapore Exchange (SGX) is strengthening its efforts to develop and promote a sustainable ecosystem by raising the quality of ESG disclosures and promoting the application and integration of ESG factors, under a partnership with OneConnect, the financial technology arm of Shenzhen-based Ping An.
The partnership will bring together relevant resources such as ESG datasets and domain expertise while adding new functionalities progressively to better serve companies, investors, research analysts and relevant stakeholders, according to an announcement on Wednesday.
OneConnect said companies and investors face myriad challenges when dealing with ESG information, including a lack of comparability, changing investor demand, as well as the evolving business landscape and regulations.
More Demand
«Investors globally are placing increasing importance on sustainability considerations, leading to significant growth in capital allocated to ESG strategies. As a result, both investors and issuers desire ESG data to be more transparent, standardised and accessible,» Michael Syn, SGX senior managing sirector and head of equities, said about the partnership.
The partnership comes on the heels of SGX's growing sustainability efforts, which include a S$20-million ($15 million) multi-pronged plan to expand its ESG-focused products, services and platforms, as well as to build capacity for the financial ecosystem, strengthen internal capabilities and increase CSR commitments.
