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Akila partners with STACS ESGpedia to facilitate green financing

Feb 07, 2023

Singapore skyline with Akila and ESGpedia logo

SINGAPORE — Akila has begun a new partnership with Hashstacs Pte Ltd (STACS) to accelerate sustainable financing in the real estate industry. STACS is a Singapore-headquartered FinTech company focused on ESG FinTech. It is the founder and operator of ESGpedia, which powers the Monetary Authority of Singapore’s (MAS) Greenprint ESG Registry. STACS’s ESGpedia registry links data providers (businesses and sector platforms) with data users (banks, asset managers, investors, regulators) within a single platform. The platform hosts globally verified ESG disclosures and certifications across multiple sectors, with real-time continuous monitoring.

Through this partnership, businesses in the STACS ecosystem will have an opportunity to implement Akila’s ESG-focused digital twin smart building platform to monitor, optimize and record the carbon emissions of their buildings. With key emissions data channeled to ESGpedia, companies can evidence their sustainability efforts through a corporate profile on ESGpedia. This profile can then serve as a verifiable record for data users. This will streamline and accelerate the risk management process for green real-estate financing.

Building a trustworthy data pool for investors on ESGpedia

Green financing is becoming more mainstream, especially in markets like Singapore, which was an early adopter of ESG standards. Last year, Singapore’s government announced plans to develop Singapore into a green finance hub, issuing up to S$35 billion of green bonds by 2030. Shortly after, they introduced the Green Bond Framework, ensuring that issuances align with internationally recognized standards. STACS ESGpedia will be a major facilitator in transforming Singapore into a regional green finance hub. There is also even more potential to accelerate similar transformations in the greater ASEAN market.

At the same time, this proliferation of ESG investing brings with it deep concerns of falsifying non-compliant loopholes called ‘greenwashing’. One key value that the partnership between STACS and Akila aims to provide is transparency. Akila’s trackable and traceable data paired with STACS ESGpedia offers a trustworthy solution for investors and banks to see verified data from companies seeking green financing.

We’re excited about this new partnership for the advancement of more sustainable business and financing for the built environments.

About STACS

STACS (Hashstacs Pte Ltd) is a Singapore-headquartered FinTech company focused on ESG FinTech, operating ESGpedia, which powers the Monetary Authority of Singapore’s (MAS) Greenprint ESG Registry. STACS serves as the Nexus of ESG Finance with ESG data across multiple industries and digital tools for the financial sector to scale decarbonization financing, as well as technology to provide end-to-end traceability of high-quality carbon offsets to mitigate residual emissions. Its clients and partners include global financial institutions and corporates. For more information, please visit www.stacs.io.

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