Funding Societies and STACS Bridge ESG Data Gap for Indonesian MSMEsby Fintech News Indonesia October 17, 2023
Indonesian MSMEs will be introduced to STACS’ ESGpedia platform through Funding Societies for ESG reporting and sustainable financing solutions.
ESGpedia offers tools to begin their sustainability reporting and looks at providing green financing options based on their ESG data.
MSMEs can use ESGpedia for free, which helps them understand and calculate their carbon emissions using factors such as fuel and electricity use.
This data gives businesses and Funding Societies a clearer view of a company’s environmental impact, aiding in making informed financial decisions.
With ESGpedia’s AI-powered engine, Funding Societies can also access over 5 million sustainability data points and profiles of 107,000 companies for smarter lending choices.
This collaboration is part of the broader ASEAN initiative, known as the “SAFE” pilot, which aims to tackle sustainability data gaps across member nations. Following the success of ESGpedia’s launches in the Philippines and Vietnam, Indonesia is the latest to benefit.
Beyond financing, the partnership also plans to educate MSMEs on sustainability through workshops. Their goal is to raise awareness about sustainability and inspire change within Southeast Asia.
Benjamin Soh, Managing Director at STACS said,
“We are delighted to be partnering with Funding Societies to empower its ecosystem of SMEs in Indonesia in their ESG reporting journey.
The partnership’s exploration of sustainability-linked and green financing options based on ESG data aggregated and collected on ESGpedia is also a step forward in improving access to sustainable financing for MSMEs in the region.”
Arthur Adisusanto, Country Head at Modalku said,
“We are delighted to be joining forces with STACS ESGpedia, to take our mission one step further, enabling MSMEs to be introduced to a platform that allows them to disclose ESG data in a straightforward way.
This partnership will provide Indonesian MSMEs with the ability to be more conscious about their activities as well as with the financial resources necessary to invest in eco-friendly technologies, reduce their carbon footprint, and implement sustainable business practices.”