Fintech Stacs wants to make ESG tracking easier for SMEs

Startup says it can help small companies access green loans, as well as help lenders monitor their progress

Wong Pei Ting

Published Fri, Jan 21, 2022 · 05:50 AM

Singapore

SMALLER companies here aren't that far away from tapping green financing as the bulk of the data required to track sustainability goals may already be tracked. The work that remains is about "getting the pieces together", such as integrating data on electricity consumption.

One fintech startup here, Hashstacs (Stacs), believes that this is the case, and is developing a product to bridge the gap.

In a call on Thursday (Jan 20), Stacs co-founder and managing director Benjamin Soh told reporters: "(Many corporations) are curious about how to get started (in tracking their environment, social and governance (ESG) goals). Sometimes, it sounds intimidating to them.

"Actually, I would like to say that it is really more of just getting the pieces together… All they really needed to do is to get this data that they already have, put into the right place, and onto the ESG registry that the financial instit…