Sunday, 28 November 2021

UOB-led consortium collaborates with SGTraDex on digitalisation of green trade finance standards

5 min read

9 November 2021 – Singapore Trade Data Exchange (SGTraDex) and a UOB-led consortium including DBS, OCBC Bank and Standard Chartered announced an initiative to develop digital solutions for the application of clear and consistent green trade financing standards across industries. The initiative aims to enable effective, data-driven decision-making around environmental, social and governance factors so that banks can better support their clients’ green trade financing needs. This serves to support Singapore’s role as a leading green trade finance hub regionally and globally. Piloting with key industries such as agriculture as well as real estate and construction, the initiative is conducted in partnership with the MAS Project Greenprint and will start in end November 2021. It seeks to facilitate a more seamless and trusted ESG data exchange between financial institutions and the projects they are financing in the real economic sectors.

Re-disseminated by The Asian Banker from UOB

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