Amicorp Group Launches ESG Reporting and Rating Service to Address Regulatory Requirements
Amicorp Group, a global provider of corporate management, financial markets, and fund administration services, has introduced a new service line aimed at assisting investors and businesses in analyzing, reporting, and enhancing their Environmental, Social, and Governance (ESG) performance. This initiative comes as regulatory requirements related to ESG compliance continue to tighten both in Asia and on the global stage.
Amicorp ESG Services have been designed to support asset and fund managers, institutional investors, and businesses in achieving compliance with these increasingly stringent regulations. Additionally, they offer valuable insights and assistance in developing ESG strategies that align with the specific goals and values of each client.
The launch of Amicorp ESG Services coincides with recent developments in Singapore where large and listed companies across several sectors, including finance, food, forest products, and energy, are mandated to report on their sustainable economic activities annually. Furthermore, the Accounting and Corporate Regulatory Authority (ACRA) and the Singapore Exchange Regulation (SGX RegCo) have initiated a public consultation to align climate-related disclosure requirements for public companies with the latest standards outlined by the International Sustainability Standards Board (ISSB).
In Hong Kong, fund managers licensed by the Securities & Futures Commission are now required to incorporate climate-related risks into their investment and risk management processes while making relevant disclosures. The Hong Kong Stock Exchange (HKEX) has announced its intentions to transition from a "comply or explain" regime to mandatory climate-related disclosures for listed companies.
In India, large and listed firms are obligated to report on their sustainable economic activities annually through the Business Responsibility and Sustainability Report (BRSR) framework introduced by the Securities and Exchange Board of India (SEBI).
Bursa Malaysia has mandated publicly listed companies to report on their ESG activities since 2016. The Malaysian government is currently working on introducing an ESG standards framework later this year to provide guidance to small and medium-sized enterprises as they transition to renewable energy and seek funding and capacity-building opportunities.
Similar initiatives are underway or under consideration in various other regions, including the United Arab Emirates, the European Union, Australia, New Zealand, the UK, and the US.
Many organizations are actively formulating ESG strategies and giving greater importance to ESG commitments, not solely due to regulatory pressures but also as a means of bolstering their reputations among customers, investors, and employees. Such strategies often result in improved financial performance through operational cost savings and energy efficiency measures.
Amicorp's platform, powered by a leading credit and business information provider, analyzes all requisite data points, encompassing Scope 1, 2, and 3 emissions. It delivers an independent and auditable ESG report, suitable for sharing with regulators, stakeholders, and shareholders. Additionally, the service provides an ESG rating and a gap analysis employing industry benchmarks to pinpoint areas where improvements can be made.