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Manila Bulletin devider Business devider The Stock Market devider GCash joins Asian sustainability reporting initiative for MSMEs

GCash joins Asian sustainability reporting initiative for MSMEs

Published Mar 28, 2024 02:35 am

TOKYO, Japan -- TOKYO, Japan -- Top mobile online payments platform GCash has joined fellow electronic wallets (e-wallet) and digital banks in the Asia-Pacific region in supporting a new initiative aimed at helping micro, small, and medium enterprises (MSMEs) in their home countries improve data collection measures to ensure reliable reporting of their sustainability plans, targets, and achievements.

Programme Sirius (which stands for "Sustainability Innovation for Regenerative and Inclusive Purpose), launched here on March 26, is an "industry-led knowledge initiative" seeking to support MSMEs in fulfilling sustainable goals while operating on digital platforms.

A key feature of Sirius is a joint partnership between Alipay+ operator Ant International and the Monetary Authority of Singapore's Gprnt initiative, wherein they will provide "technology-based reporting solutions" for MSMEs to commence making basic sustainability disclosures that adhere to the Environmental, Social, and Governance (ESG) standards.

This includes introducing and advising MSMEs on sustainable business finance and supply chain solutions using innovations in data and technology towards a low-carbon economy.

Aside from this, Ant International will also collaborate with World Bank Group member International Finance Corporation (IFC) to create Digital Sustainability Impact Management Toolkits for the next two years to help MSMEs adopt green practices.

In a statement, GCash President and Chief Executive Officer (CEO) Martha Sazon remarked on how MSMEs are the "backbone of any growing economy," noting GCash's role as MSMEs' bridge to doing business on digital platforms.

"We remain committed to helping Filipino MSMEs achieve progress through democratized financial services, especially with easy access to credit," Sazon added.

Aside from GCash, 12 other industry partners joined the initiative. Among them are AlipayHK (Hong Kong), ANEXT Bank (Singapore), Bigpay (Malaysia), bKash (Bangladesh), DANA (Indonesia), Hipay (Mongolia), Kakao Pay and Toss Pay (South Korea), MPay (Macao), TNG Digital (Malaysia),  True Money (Thailand), and Zalopay (Vietnam).

Ant International's Chief Sustainability Officer Leiming Chen emphasized the pressing roles of the global business sector in mobilizing merchants to take climate action.

"Given the complexities of the task, ranging from taxonomy  and governance framework to cost and education, it requires collective effort across public and private sectors, industries and markets to drive this change," said Chen.

"With our experience in innovation-led sustainability and MSME programs, Ant International is proud to join partners like the Gprnt and IFC, and other industry partners of the Programme Sirius like GCash to unlock opportunities for MSMEs as they transform to become more sustainable," Chen added. 

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