The LSEG announced that it has launched a dedicated sustainable finance innovation unit in the lion city, which focuses on creating sustainable finance capabilities across Singapore’s fintech ecosystem.

The operation aims to accelerate innovation and advanced technology with the support of the Monetary Authority of Singapore (MAS).

“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. 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,” said David Harris, global head of sustainable finance, data and analytics at LSEG.

Focusing on ESG, the sustainable finance unit is driven by data science, data engineering, design thinking, according to the exchange. The multidisciplinary team will work closely with Singaporean and global financial institutions, corporates, universities and industry associations.

The lab will integrate data, emerging technology, and sustainability, to accelerate investment into green infrastructure projects, measure climate risks and facilitate ESG disclosure.

“Technology will play an increasingly vital role in driving the global sustainability agenda. 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,” said Kwok Quek Sin, executive director of green fintech at MAS.

LSEG Labs is the in-house fintech division for the exchange. It collaborates with its customers and partners around the world to apply strategic analysis, emerging technology, data science and design thinking to solve pressing problems faced by the financial industry, according to LSEG.