The ASEAN-Interconnected Sustainability Ecosystem (ASEAN-ISE) initiative, which aims to create a harmonised ASEAN sustainability ecosystem, continues to make strides. A workshop in Kuala Lumpur last week centred on the development of an ASEAN-level ESG Data Infrastructure, to enable accurate, efficient and standardisation of ESG data collection, analysis and reporting, towards promoting sustainable investment in the region.

To move forward, ASEAN-ISE members collectively agreed to issue a Request for Information (RFI) to identify fit-for-purpose solutions that will support the initiative in achieving its target outcome over the next three years¹.

Key representatives from ASEAN Exchanges, including Bursa Malaysia, Indonesia Stock Exchange (IDX), The Philippine Stock Exchange (PSE), The Stock Exchange of Thailand (SET), and Singapore Exchange (SGX Group), participated in the workshop to discuss and shape the RFI requirements. The RFI outlines the proposed framework for the ASEAN-ISE unified data infrastructure, emphasising the development of an interconnected ecosystem to facilitate seamless ESG data exchange, ensuring a sustainable operating model that can promote market accessibility through an ESG lens.

The exchanges acknowledged that finding commonalities were integral in the endeavour. “We envision a centralised infrastructure with harmonised data structure and standards which will enable a seamless aggregation of the ASEAN view, in promoting the region as a unified market. This framework, which will align with global priorities on green transition, will emphasise commonalities that enhance resource efficiency, achieve economies of scale and accelerate the timeto-market deployment of solutions,” said Datuk Muhamad Umar Swift, Chief Executive Officer, Bursa Malaysia. Bursa Malaysia hosted the recent workshop and is the current ASEAN-ISE secretariat.

“Through this initiative, we aim to deliver tangible outcomes – such as attracting international investors, increasing corporate visibility, and driving greater interest in ASEAN as a hub for sustainable development. By establishing a robust data infrastructure, we can position the region as a competitive and trusted partner in the global green economy, creating opportunities for innovation, growth, and deeper market integration. We welcome collaboration with like-minded parties worldwide to shape the future of ESG integration across ASEAN and with our other trading partners.”

The ASEAN ESG Data Infrastructure is the first of the four undertakings agreed upon by ASEAN Exchanges in July 2024. Through this RFI, ASEAN-ISE seeks market input to shape the development of a centralised ASEAN ESG data infrastructure. More information of the RFI will be released in December 2024. For more information, please contact the ASEAN-ISE Secretariat at isb@bursamalaysia.com. 

Source: ASEAN-ISE