SINGAPORE, 2 August 2022 – U-Reg partners with OS-Climate’s ESG reporting stream to develop a cross-jurisdictional common ESG disclosure platform.
U-Reg is delighted to announce the launch of a collaborative project with OS-Climate to offer a solution that tackles the complexity of taxonomy and disclosure-aligned reporting by leveraging on a powerful open-source community and on technological expertise.
While financial institutions and corporates have a higher impetus today to comply with ESG reporting requirements, the overall landscape of taxonomy-aligned disclosures remains fragmented across industries and geographies. Overlapping data points create unnecessary complexity whilst reporting is time-consuming and costly. Data processors, such as financial institutions, also find it difficult to automate ESG data analytics.
This project will provide a common interoperable reporting framework to help financial institutions as well as corporates to automatically generate reporting on their operations and portfolios, across jurisdictions and taxonomies. Simplified data entry and elimination of overlaps between taxonomies will facilitate sourcing, sharing and exchange of ESG data.
To this end, U-Reg started developing an ESG reporting equivalence data model that will be accessible in open source, in collaboration with OS-Climate, to allow participants to continuously enrich and use this model. As part of this collaboration, U-Reg will also address governance questions around validation of new data points and addition of taxonomies. A robust open-source governance model will ensure multi-party collaboration.
The initial sub-set of taxonomies will encompass TCFD, GRI, SFDR, SASB, SGX, and other jurisdiction-specific disclosures such as the Environmental Risk Questionnaire (ERQ) in Singapore or the European ESG Template (EET). Further disclosures and taxonomies such as the SEC or ISSB frameworks will be added once finalized, with the open-source data model customizable to also accommodate private models.
This project will be integrated with OS-Climate’s data architecture. By virtue of its open-source nature, it will leverage upon various industry stakeholders to test and validate on the equivalence reporting data. It will also synergize underlying technologies and data pipelines to accelerate overall ESG data sourcing, structuring, and sharing, with a goal to simplify ESG reporting and allow for an efficient process.
Please contact esg@u-reg.com if you are interested in collaborating with us on this project.
About OS Climate:
Linux Foundation’s OS-Climate is a breakthrough initiative creating a transparently governed public utility of open data and open-source tools for climate-aligned finance investing, business, and regulation. Members contribute their data scientists, modellers, and software developers to cooperative projects building the OS-Climate Data Commons, a federated library of libraries of corporate and factor data, plus analytics tools to derive the actionable metrics crucial for asset allocation, portfolio construction, security analysis, credit analysis, corporate engagement, strategic planning and transition investment by corporates, and financial sector supervision. For more information visit www.os-climate.org .
About U-Reg:
U-Reg is a Singapore-based RegTech, certified by the Singapore Fintech Association. U-Reg leverages technology to help clients meet regulatory obligations with ease. U-Reg’s platform comprises ESG solutions that streamline collection, structuring and direct collaboration of ESG data to facilitate ESG reporting. Amongst other accolades U-Reg is an official ESG reporting partner of Singapore’s project Greenprint ESG registry, ESGpedia, as well as a two-time awardee of the MAS Financial Sector Technology and Innovation (FSTI) Proof of Concept (POC) grant.