Offsetted, a climate tech software business, has launched an ESG compliance solution aimed at helping the financial industry reduce their environmental impact.
The product – Offsetted Finance – will also help companies report on ESG-related disclosures.
Offsetted Finance is a Software-as-a-Service that empowers privately-owned financial institutions and publicly traded companies at the Singapore Exchange (SGX) to understand their carbon footprint, model emission reduction plans, and perform ESG-related disclosures.
The product will also provide organizations with data-driven, actionable insights on their ESG performance improvement in line with industry-specific benchmarking and scoring. Offsetted Finance is aligned with recognized international standards and frameworks such as the Global Reporting Initiative (GRI), Task Force on Climate-Related Financial Disclosures (TCFD), and Sustainable Development Goals (SDG).
Offsetted managing director and co-founder Daria Lipatova said, “Offsetted Finance is destined to assist financial institutions, as well as companies in the real sector, on their path to net zero by providing an accessible one-stop-shop solution to understand their emissions and obtain an ESG score.
“We believe that by providing a simple, accessible tool for assessing and acting on both direct and indirect emissions, the latter of the most important to the financial sector, Offsetted Finance enables organisations to respond to regulatory pressure easily. In addition to that, we assist our clients in creating long-term business growth opportunities utilizing various footprint reduction and decarbonisation solutions.”
The Monetary Authority of Singapore (MAS) recently launched an ESG Impact Hub to spur co-location and collaboration between ESG FinTech startups in Singapore.
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