The Monetary Authority of Singapore (MAS) launched a new digital platform called Gprnt that will help simplify ESG reporting and enable access to a range of sustainability resources for organizations. This is in the direction of MAS’s plan to make ESG reporting accessible to all companies, especially SMEs, so they can effectively measure and manage their environmental impacts. Gprnt recently launched two major offerings: the Disclosure Tool and Marketplace, which allows organizations to track, report, and advance their sustainability goals.
A New Approach to ESG Reporting
The pressure of these stakeholders pushes such organizations to report more clearly on their sustainability initiatives. However, the smaller companies face challenges with extensive ESG reports management due to limited resources. Gprnt covers all such challenges with free and paid solutions, depending upon the size and type of business it operates in and the kind of sustainability reporting it needs.
The Disclosure Tool
The heart of Gprnt’s products is the Disclosure Tool-an innovative piece that uses AI technology to help companies calculate their carbon emissions: Scope 1 and Scope 2 emissions. These are direct emissions owned or controlled, and indirect emissions from purchased electricity, heat, and steam. With this tool, the integration with both government and private databases allows SMEs that do not have specific resources for sustainability to easily access it and collect relevant information on their own.
Customized permissions in the tool mean that companies can decide who has access to their data, thus maintaining confidentiality and regulatory compliance. It provides a premium service for large enterprises, including all supply chain data to guide the company in calculating its Scope 3 emissions that are considered indirect and indirectly take place through a firm’s value chain. Generally speaking, Scope 3 is more complicated to estimate than the others due to being related to items of which an organization has less immediate control such as third party services, the suppliers.
Single Platform to Source All Solutions on ESG
Gprnt’s Marketplace is the heart of ESG. Here, the user will have access to more than 75 tools and solutions specially developed to cater to the needs of management of carbon footprint of organizations, management of carbon footprint towards better efficiency in energy utilization, gaining green financing options, or sourcing third-party assurance services. This marketplace allows easy access to help their journey to net zero and thus gives them choices for getting the right tool suited for specific requirements.
It offers recommendations based on the special needs and profile of the company, recommending carbon footprint reduction, adoption of renewable energy, and improvement in energy efficiency. The marketplace further offers an option for green financing that could be utilized for funding the green projects of the companies looking to invest in sustainable infrastructure and practices.
Future Features: AI Assistant and Advanced Analytics
According to the company, MAS further expands into a tool that might suit new features for developing efficient ESG reporting capabilities. Some of the imminent upgrade features include the feature AI assistant that would aid businesses faced with complicated reporting activities; customized recommendation on objectives and associated constraining factors; Gprnt now has analytics functionality – Users now can produce extensive detailed report and graph progressions regarding achievements of sustainability. This analytics tool will likely play a major role in the management of climate risk by organizations, tracking key performance indicators, and making data-driven decisions for sustainability journeys.
Regional Expansion
MAS also aims at regional expansion, scaling Gprnt across Asia, where businesses throughout the region can take advantage of the digital infrastructure provided by ESG data. This regional growth will drive the growing need for Asia as a whole toward increased sustainability and climate action while contributing to the reductions by countries and organizations on impacts on the environment. Further Gprnt expansion will continue driving Asia’s low-carbon transition by standardizing accessible tools to track, measure, and manage organizational performance on sustainability.
Critical Benefits for Business
Gprnt, in other words, is MAS’s approach to supporting companies as they strive to meet their commitment to sustainability. This would be a platform with AI enabled tools, customizable features, and a comprehensive marketplace, meeting a critical need of companies at every step on their ESG journey. For the small, medium-sized enterprises, it allows for a low barrier into ESG reporting, and larger businesses get a more developed series of features including higher-data insights and analytics. This would enable companies of any size, and whatever resources, to set, monitor, and achieve their sustainability goals.
It’s quite easy to think of this business and their readiness, under the present scenario, to take up something straight, cost-effective for building up and managing ESG in their company using Gprnt. With further addition to these features in the pipeline, Gprnt also looks set for further expansion within its geographical regions. As the same would go to establish a platform that manages the Asia ESG data reports well.
Source: Fintech Singapore