ASEAN-Interconnected Sustainability Ecosystem (ASEAN-ISE) participating exchanges have issued a request for information (RFI) to develop a centralized ASEAN environmental, social, and governance (ESG) data infrastructure.

Bursa Malaysia said in a statement on Tuesday that ASEAN-ISE members have collectively agreed to issue a RFI to identify fit-for-purpose solutions that will support the initiative
in achieving its target outcome over the next three years.

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), have participated in a recent workshop to discuss and shape the RFI requirements.

The RFI outlines the proposed framework for the ASEAN-ISE unified data infrastructure, emphasizing 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 endeavor.

“We envision a centralized infrastructure with harmonized 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 emphasize commonalities that enhance resource efficiency, achieve economies of scale and accelerate the time-to-market deployment of solutions,” said Muhamad Umar Swift, Chief Executive Officer, Bursa Malaysia.

Through this initiative, he said they 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,” he added.

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 centralized ASEAN ESG data infrastructure.

More information of the RFI will be released in December 2024.

Bursa Malaysia, the Malaysian stock exchange, is the current ASEAN-ISE secretariat.

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