FinTechs Turnkey and STACS announce partnership to scale up their industry-wide ESG finance platform for institutions
Award-winning sustainability-enabling fintechs partner on sustainable finance platform for institutions as Environmental, Social and Governance demand grows
SINGAPORE, SINGAPORE, SINGAPORE, June 30, 2021 /EINPresswire.com/ — Sustainability Data Analytics software provider Turnkey Group (‘Turnkey’) and leading Singapore-headquartered FinTech firm Hashstacs Pte Ltd (‘STACS’), focused on capital markets and Environmental, Social, and Governance (‘ESG’) financing, announced a new partnership which will see both organisations scaling up their industry-wide ESG-enabling solutions. The partnership largely focuses on leveraging technologies to produce accurate insightful impact reports that are accessible and immutably stored on a common Distributed Ledger Technology (‘DLT’) data infrastructure for a single source of truth, for greater ESG impacts across industries.
Recognised as one of the leading Data Analytics software providers in sustainability, Turnkey emphasises customisable ESG risk management and impact reporting solutions for various institutions, while STACS offers an integrated DLT-powered ESG Finance and Data Infrastructural Nexus, pivotal to mobilising capital, monitoring commitment, and stimulating continuous ESG efforts through indisputable quality impact reports. STACS also serves an ecosystem of global financial institutions highly involved in the ESG space, thus underscoring its ESG and sustainable financing expertise. Most recently, last Thursday (24 June), STACS was awarded Best Fintech ESG Solution in the renowned DigFin Innovation Awards 2021.
The agreement formalises the partnership and mutual commitment between Turnkey and STACS at the strategic and working level, towards empowering more stakeholders in the ESG space. Turnkey will integrate its Data Analytics ESG risk management solution with STACS’ sustainability-enabling DLT-powered common data infrastructure, GreenSTACS. With the partnership, a common ESG infrastructure for all industries can be created, to manage and benefit from ESG financing with strengthened monitoring of commitment, and authentic impact reporting for more impactful ESG benefits towards the Singapore Green Plan 2030 and Paris Agreement for a more sustainable planet.
Tony Wines, Founder and CEO at Turnkey, said: “There is increasing recognition in the financial sector that capturing ESG data in real time is essential towards making positive investment decisions. This needs to align with the importance of verifiable and accurate disclosure. We are delighted to partner with STACS to combine real time information and structure it under a robust DLT infrastructure. This will allow the highest level of data analytics and reporting which can be supported with the best standards of verification and transparency.”
Benjamin Soh, Managing Director at STACS, said: “Banks are realising the need to support legitimate green and sustainable financing and to monitor the commitment of these projects and organisations in the ESG space. We are proud to partner with Turnkey on this initiative, to jointly deliver a highly valuable technology infrastructural nexus. With our DLT and Data Analytics expertise from servicing many global leading financial institutions, our collaboration and commitment to sustainability will empower all institutions (financial and non-financial) to unlock impactful ESG strategies for greater commercial value.”
STACS (Hashstacs Pte Ltd) is a Singapore FinTech company providing Transformative Technology for the Financial Industry, with its complete infrastructure of live institutional green and ESG-enabling platforms that make global markets simpler. STACS is leading the way forward by digitalising assets, processes, and documents using its STACS Blockchain technology. Its clients and partners include global banks, national stock exchanges and asset managers. STACS is The Asset Triple A Digital Awards 2021 FinTech Start-Up of Year, an Award Winner of the Monetary Authority of Singapore (MAS) Global FinTech Innovation Challenge Awards 2020, and also a two-times awardee of the Financial Sector Technology and Innovation (FSTI) Proof of Concept (POC) grant, under the Financial Sector Development Fund administered by MAS.
Turnkey (Turnkey Group) is an industry-recognized sustainability management software provider for corporates and investors to manage and monetize Environmental, Social and Governance factors in a live environment. The company work with customers globally to enable ESG as an input in supply chain design and strategic decision making. The software drives behavior beyond compliance and reporting, into productivity, EBITDA upside, company valuation and predictive modelling of sustainability and ESG. Turnkey is one of the leading software providers in the sustainability space; its solutions are adopted in over 7000 locations in 46 countries and its reporting is mapped against multiple global frameworks and the ESG regulations of 96 stock exchanges. Turnkey is a UN PRI-listed and award-winning sustainability technology platform for private equity and infrastructure funds and their portfolio companies, a Verdantix Smart Innovator Award Winner and a 2019 Sustainability Management Software Quadrant Leader.