The London Stock Exchange Group (LSEG) has announced the launch of a sustainable finance innovation unit in Singapore.
The unit, backed by the Monetary Authority of Singapore (MAS), is part of the group’s new LSEG Labs network and will be focussed on creating sustainable finance capabilities to accelerate advanced technology across the country’s FinTech market.
With locations in London and Singapore, LSEG Labs collaborates with LSEG’s customers and partners around the world to apply strategic analysis, emerging technology, data science, and design thinking to solve problems faced by the financial industry.
The group said that the Singapore-based unit provides a combination of data science, data engineering, design thinking and Environmental, Social and Governance (ESG) expertise.
“Technology will play an increasingly vital role in driving the global sustainability agenda,” said Kwok Quek Sin, executive director, green FinTech, FinTech & innovation group at MAS. “Greater collaboration will be key for the financial sector to explore innovative solutions that can address climate-related risks and mobilise capital towards greener and more sustainable activities.”
Quek Sin added: “To this end, the setup of LSEG’s sustainable finance innovation unit in Singapore can help bring together the capabilities and stakeholders needed to support sustainability and transition efforts both regionally and globally,”
LSEG’s multidisciplinary team will work closely with key players in Singapore and global financial institutions, corporates, universities, and industry associations.
“We are excited to gain the backing of MAS to support the business, finance and investor community in accelerating the transition to a net-zero, sustainable economy,” said David Harris, global head of sustainable finance, data & analytics at LSEG. “This is a powerful initiative given both of our positions at the heart of international capital markets and our combined focus on innovation and global collaboration in sustainable investment and finance.”
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