Singapore Businesses to Benefit from Enhanced Sustainability Reporting Tools with Gprnt
Businesses in Singapore will now have access to a wider range of tools for sustainability reporting and decarbonisation through Gprnt, the digital platform launched by the Monetary Authority of Singapore (MAS) for environmental, social, and governance (ESG) reporting and data.
Gprnt Introduces New Disclosure and Marketplace Offerings
On November 6, Gprnt unveiled its Disclosure and Marketplace offerings, aimed at providing companies with more comprehensive solutions to meet their ESG reporting and decarbonisation needs. The platform is designed to address the increasing interest in ESG reporting among companies globally, with nine out of ten expressing interest in leveraging ESG reporting to address compliance and stakeholder pressures.
However, many companies, especially small and medium-sized enterprises (SMEs), face challenges in getting started with sustainability reporting. Gprnt’s Disclosure tool aims to simplify this process by offering a user-friendly, AI-powered solution to measure businesses’ Scope 1 and 2 emissions.
Understanding Scope 1 and Scope 2 Emissions
Scope 1 emissions refer to direct emissions generated by a company, such as those from its facilities or transport vehicles. On the other hand, Scope 2 emissions are indirect emissions, including those from purchased electricity or heating.
The Gprnt platform will integrate with government databases and private sector solutions to help SMEs calculate their basic emissions and assess their climate risk management and green procurement practices, generating essential ESG data.
Streamlining Sustainability Reporting with Gprnt
Generating a sustainability report can be a time-consuming process for organizations. Gprnt’s platform allows companies to create basic disclosure reports on demand, simplifying the reporting process and saving resources.
Gprnt Disclosure is available for free for individual businesses, with the option for larger organizations to customize and deploy the tool to collect data from their value and supply chains to support Scope 3 reporting efforts.
Exploring Scope 3 Emissions and Sustainability Solutions
Scope 3 emissions encompass indirect greenhouse gas emissions associated with a company’s value chain, such as business travel, product use, or purchased goods and services. To help businesses navigate sustainability solutions, Gprnt has launched a Marketplace that connects users to relevant solutions for addressing their sustainability data.
With nearly 80 sustainability solutions available through the Marketplace, companies can access tools for Scope 3 carbon accounting, decarbonisation, energy optimization, and green financing.
Partnerships and Future Initiatives
Gprnt has strategic partnerships with Ant International and MUFG Bank, with support from Microsoft and the Global Finance and Technology Network (GFTN). The platform’s launch is seen as a significant milestone in Singapore’s sustainability journey, providing businesses with digital infrastructure to access and report verifiable ESG data.
Future features to be rolled out include an AI-powered sustainability assistant and an ESG data registry powered by insights from Gprnt’s user base. The platform will work closely with industry partners to drive adoption in Singapore and beyond.
Expanding Regional Impact and Collaborations
As Gprnt scales regionally to support the broader transition across Asia, users can expect new features and collaborations. The platform will work with partners like Ant International and MUFG Bank to address shared priorities such as sustainable supply chain financing. Additionally, collaborations with Enterprise Singapore and the Ministry of Sustainability and the Environment will enable companies to obtain basic emissions data for disclosures and support statutory boards in managing their environmental sustainability disclosures.
Conclusion
Gprnt’s enhanced sustainability reporting tools offer businesses in Singapore a more streamlined and comprehensive approach to ESG reporting and decarbonisation. With a focus on simplifying the reporting process, providing access to a wide range of sustainability solutions, and fostering strategic partnerships, Gprnt is poised to drive meaningful change in the region’s sustainability landscape.
FAQs
What are Scope 1 and Scope 2 emissions?
Scope 1 emissions are direct emissions generated by a company, while Scope 2 emissions are indirect emissions from sources such as purchased electricity or heating.
How can businesses benefit from Gprnt’s Marketplace?
Gprnt’s Marketplace connects users to relevant sustainability solutions, offering tools for Scope 3 carbon accounting, decarbonisation, energy optimization, and green financing.