Global Reporting Initiative (GRI) has officially opened its ASEAN Regional Hub in Singapore, to serve the ten countries in the region - Singapore, Malaysia, Indonesia, Philippines, Thailand, Vietnam, Cambodia, Laos, Myanmar, and Brunei Darussalam.
To mark the opening of the Hub, SGX hosted a celebratory event today.
Tan Boon Gin, Singapore Exchange Regulation CEO, said: "We welcome the establishment of GRI's Regional Hub in Singapore where it can generate valuable know-how for ESG reporting and sustainable finance, and in turn contribute to the development of Singapore as a global financial center."
The office will support companies in ASEAN with relevant services and training, helping them on their journey to identify, manage and report their most material environmental, social and governance (ESG) impacts.
It will also liaise with governments, capital markets, civil society and other stakeholders in the region.
Headed by Michele Lemmens, a highly experienced business executive from Tata Consultancy Services (TCS), the Hub is co-located at the offices of Global Compact Network Singapore (GCNS), the Singapore chapter of the United Nations Global Compact.
Tim Mohin, GRI chief executive, said:"Economic growth in the ASEAN region presents an historic opportunity to embed corporate responsibility at an early stage and align capital to sustainable ways of working. The only way to do this is with high quality ESG disclosure based on a global common language – the GRI Standards."
The ASEAN Hub in Singapore adds to GRI's regional network: North America (New York), South Asia (New Delhi), Africa (Johannesburg), Greater China Region (Hong Kong), Hispanic America (Bogota), and Brazil (São Paulo). GRI's Secretariat is based in the Netherlands (Amsterdam).
Its launch has been made possible thanks to the backing of a consortium of 12 organisations: CapitaLand, City Developments Limited, DBS Bank, EY, Keppel Corporation, KPMG, PwC, Sembcorp Industries, Singapore Exchange, StarHub, Stewardship Asia, and Tata Consultancy Services.
These organisations have contributed towards the funding for the initial three-year startup period. They will also participate in the GRI ASEAN Advisory Committee, which will inform the hub’s regional action and priorities.
Lynette Leong, Chief Sustainability Officer for CapitaLand Group said: “CapitaLand is pleased to accept GRI’s invitation to be a founding member of its Regional Office. This is testament of our Environmental, Social and Governance (ESG) leadership in the region and early adoption of GRI standards for our global sustainability reporting efforts. Even with CapitaLand’s 10th Global Sustainability Report this year, we continue to strengthen our commitment towards transparency and external assurance in the integrated reporting of our financial and ESG efforts, and deepening the trust with our stakeholders. We look forward to working closer with GRI to enhance the region’s endeavours in sustainability through not only responsible and timely reporting but also thought leadership and capacity development, so that productive decisions can be made.”
Photo / GRI Photo caption: Representatives of the GRI ASEAN Hub consortium