The United Nations Development Programme (UNDP), Global Legal Entity Identifier Foundation (GLEIF) and Monetary Authority of Singapore (MAS) signed a statement of intent on June 22 to embark on a collaborative initiative to develope digital ESG credentials for micro, small and medium-sized enterprises (MSME).
The initiaive is known as Project Savannah and it aims to help simplicy the ESG reporting process for MSMEs.
Project Savannah plans to establish a common framework of ESG metrics for MSMEs. UNDP, GLEIF and MAS will support Project Savannah with capacity building through digitalisation, access to financing and integrting management and measurement practices. MAS will deploy the EDGenome disclosure platform as a digital reporting tool for MSMEs. ESG data will be made accessible via the Global LEI System which provides one global business identity behind every business. This will enable an MSME’s basic ESG credentials to be trusted and accessible by any authorised third party anywhere in the world.
