PDS Group and STACS Partner to Revolutionize ESG Reporting in ASEAN

Discover how the partnership between PDS Group and STACS, through the ESGpedia platform, is reshaping ESG reporting and sustainability practices in the Philippines and ASEAN

The PDS Group, also known as Philippine Dealing System Holdings Corp., has announced a collaboration with STACS, a leading Environmental, Social, and Governance (ESG) data and technology solutions company in Asia. This partnership is aimed at utilizing STACS’s ESGpedia platform to support corporate sustainability and ESG reporting for businesses and issuers operating in the Philippines. This initiative is part of the Sustainable Finance Institute Asia (SFIA) pilot program, which aims to address ESG data and disclosure gaps in ASEAN markets.

ESGpedia, recognized as the largest ESG data registry in Asia with applications across various sectors, has been chosen as one of the technology platform partners for the SFIA Single AccessPoint for ESG Data (SAFE) Initiative Pilot. The objective of SAFE is to unite and empower key industry participants across ASEAN by providing credible, comprehensive, and consistent ESG data reporting.

Through this partnership, PDS Group intends to promote the use of ESGpedia, starting with its community of listed issuers and eventually extending it to all other companies in the Philippines. The goal is to facilitate their journey towards ESG data reporting, making it a regular part of their corporate disclosures. ESGpedia offers a digital platform that simplifies various ESG standards and frameworks, providing a straightforward and guided path to sustainability. It also includes digital tools that can automatically convert operational data, such as fuel, refrigerant, and electricity consumption, into greenhouse gas (GHG) emissions using the standard GHG Protocol, customized for the Philippines. This enables companies to gain insights into their carbon footprint.

Additionally, ESGpedia has partnered with the ESCAP Sustainable Business Network (ESBN) Asia-Pacific Green Deal Program. Participants in this program will have the opportunity to earn a Green, Silver, or Gold Green Deal Badge upon completing their company’s ESG profile on ESGpedia. This profile will incorporate data from disclosures and be enhanced by aggregated data from public sources. This serves as an incentive for awardees to showcase their commitment to sustainability to customers, investors, and financiers.

The cross-border partnership was officially announced in Manila on September 11, 2023, with the presence of various companies in the Philippines, including corporations and financial institutions, as well as the United Nations Global Compact Philippines, the Bangko Sentral ng Pilipinas, and the Securities and Exchange Commission. This follows the successful launch of ESGpedia in Vietnam with Bamboo Capital Group, which is also part of the SFIA SAFE Initiative, in August.

Antonino Nakpil, President and CEO of PDEx, expressed enthusiasm about the partnership and its role in advancing corporate sustainability. He emphasized the importance of awareness and understanding of a company’s ESG standing as the first step toward sustainability and praised the SFIA SAFE Initiative for facilitating access to credible and comprehensive ESG data.

Benjamin Soh, Managing Director of STACS, highlighted the transition towards mandatory ESG disclosures in Asian countries and welcomed the collaboration with PDS Group to promote ESGpedia among listed issuers and Philippine companies. He emphasized the community-centric approach and the aim of shaping the future of the ESG data landscape.

ESGpedia, with its vast database comprising over 5 million sustainability data points, empowers financial institutions and companies to achieve their strategic sustainability objectives by providing standardized ESG data at the asset level. This enables sustainable finance and monitoring of supplier sustainability. ESGpedia achieves this through AI-powered aggregation and harmonization, combining public ESG data with primary disclosure data collected directly through its platform.

ESGpedia is already operational across Asia and plays a pivotal role in supporting initiatives like the Monetary Authority of Singapore’s (MAS) Greenprint ESG Registry and the ESCAP Sustainable Business Network (ESBN) Asia-Pacific Green Deal digital assessment.

In conclusion, the partnership between Philippine Dealing System Holdings Corp. (PDS Group) and STACS, as facilitated by the ESGpedia platform, marks a significant step towards sustainable business practices and ESG reporting in the Philippines and the broader ASEAN region. By leveraging cutting-edge technology and fostering collaboration among key industry players, this initiative not only empowers businesses to navigate the complexities of ESG reporting but also paves the way for a more sustainable and transparent future. As we witness this transformation unfold, it becomes evident that ESG considerations are no longer optional but essential for businesses looking to thrive in an increasingly conscientious global landscape. This visionary partnership exemplifies a commitment to responsible corporate citizenship and sets a commendable precedent for companies and organizations across the region to follow suit, ultimately working together to achieve the vital goals of environmental stewardship, social responsibility, and sound governance.