Building a Greener Future: Gprnt and Tenity Discuss the Evolution of Sustainable Finance

As part of Tenity’s ongoing exploration of cutting-edge innovations in climate and fintech, we had the privilege to sit down with Lionel Wong, Executive Director of Gprnt and Deputy Director and Head of the Green Fintech Office, MAS, to discuss the platform’s transformative role in sustainable finance. Launched by the Monetary Authority of Singapore (MAS), Gprnt is leading the charge in creating a trusted ecosystem for ESG data and sustainability reporting. In this interview, Lionel shares key milestones in Gprnt’s journey and insights into how green fintech is reshaping the financial landscape in Singapore and beyond.

‍

Transforming sustainable finance in Singapore & beyond

Gprnt (“Greenprint”) is a pioneering initiative by the Monetary Authority of Singapore (MAS). It commenced in 2019 as a public-private project to co-innovate the use of various technologies to build a trusted data ecosystem that underpins the efficient deployment of sustainable finance. In 2023, Gprnt graduated to becoming a standalone fintech platform offering baseline services for automated sustainability reporting and ecosystem interconnectivity.

‍

What inspired Gprnt’s (“Greenprint’s”) creation and how has it evolved over time?

Gprnt's evolution is closely tied to MAS’s policies on green and transition finance. MAS’s overarching goal has been to work with the industry to build and implement robust frameworks that support sustainability efforts. These policies culminated in the MAS Green Finance Action Plan, which later evolved into the Finance for Net Zero (FiNZ) Action Plan.

Initially, Gprnt (formerly known as “Project Greenprint”) was focused on innovating technologies to build a trusted data ecosystem that could measure and monitor the financial sector’s progress. Over time, it became clear that financial institutions needed data that extended beyond Singapore. This led to the project expanding its scope to deliver the necessary technology and architecture to streamline data access from both Singapore and global operations. Eventually, Gprnt was spun off into an independent entity to scale and adapt more freely across markets.

What were some of the key milestones in Gprnt’s development?  

Key Milestones in Gprnt’s Development. Since its inception in 2019, Gprnt’s mission has focused on providing high-quality data to financial institutions. Initially, the lack of reliable data was a key obstacle hindering decision-making and climate-focused risk mitigation in financial institutions. To address this, several technological pilots were launched. These included ESGenome, a standardized reporting portal for Singapore-listed companies developed with the developed with fintech firm STACS to streamline access to verified ESG certificates globally.

The new Gprnt platform consolidates these learnings into a single platform that helps businesses begin their sustainability journeys. It aims to anchor an ecosystem of ESG training, technology, and finance solutions, recognizing that no single solution can meet all market needs. The ecosystem approach is key to helping businesses decarbonize and achieve their ESG goals.

Are Gprnt’s Solutions Only for Financial Institutions?

Gprnt’s goal is to serve not just financial institutions, but also their clients, including businesses of all sizes. The first solution, launching in November 2024, is the Gprnt Disclosure tool, which automates the reporting of Scope 1 and 2 emissions as well as water and electricity consumption. Singapore’s digital infrastructure, including systems like SingPass and CorpPass, allows businesses to extract data from government databases for automatic computation into sustainability outputs.

Additionally, Gprnt will launch the Marketplace in November 2024. This central interface is designed to anchor and facilitate interoperability across the ecosystem. It helps businesses connect to external solutions for more advanced reporting, such as Scope 3 emissions, which goes beyond the basic metrics covered by Gprnt’s Disclosure tool.

Gprnt believes that sustainability reporting should be outcomes-driven, not just focused on compliance. The aim is to help businesses not only report data easily but also understand how it can unlock economic benefits such as access to procurement and supply chain opportunities or favorable financing terms.

What is the Gprnt Hub?

The Gprnt Hub aims to foster the growth of the regional ESG solutions community, much like the Green FinTech Network in Switzerland. The Hub promotes innovation and diversity by bringing together the demand for ESG solutions from businesses looking to decarbonize with the tools and capabilities available within the ecosystem.

In 2022, Gprnt launched the physical ESG Impact Hub in a co-working space in Singapore to encourage collaboration between ESG start-ups, financial institutions, and stakeholders. In November 2024, Gprnt will also launch the digital version of this hub through the Gprnt Marketplace, which will match clients with the right solutions and providers.

Is there anything specific that you provide to the start-ups in the ecosystem?

MAS has long supported the local start-up ecosystem, offering grants to encourage experimentation and adoption.

Most recently, MAS introduced the ESG Fintech Grant, focusing on financial institutions deploying innovative ESG fintech solutions.

Gprnt complements these efforts by providing a platform to anchor the ESG fintech ecosystem. It connects solution providers with potential adopters and investors and helps start-ups access market insights and data to hone their offerings.

By building this ecosystem, Gprnt aims to lower barriers to entry for new players and drive innovation in green finance. Supporting start-ups and helping them scale will lead to more impactful outcomes for the entire industry.

Are there any recent trends or innovations in the climate fintech space that you find particularly exciting?

The future of financial services will look very different once sustainability is fully integrated. Achieving global climate goals will require significant changes in business practices, and this presents numerous opportunities. Businesses will need to adopt sustainable practices to meet these goals, and the success of this transformation will depend on reliable data. The fintech landscape will also evolve as sustainability becomes more integrated. For example, the concept of “green payments” currently revolves around offsetting carbon emissions through credits, but this is just the beginning. The payments industry—the largest subsector of fintech—holds vast potential to support net-zero ambitions.

With sustainability now a critical priority for businesses and financial institutions alike, platforms like Gprnt are playing a crucial role in driving this transformation. At Tenity, we are excited to witness how green fintech continues to evolve, offering innovative solutions that will help businesses meet their ESG goals. Gprnt’s commitment to fostering collaboration within the ecosystem and enabling data-driven sustainability reporting sets a strong foundation for the future. As we look ahead, we remain optimistic about the potential of fintech to power sustainable growth and contribute meaningfully to global climate goals.

‍

Do you want to know more? Check out our Tenity Climate Fintech Report here

‍