mobilise capital to sustainable projects, monitor the climate commitments made, and measure the impact associated with investments. project greenprint has focused on four digital utilities : an esg disclosure portal ; an esg registry of green certifications ; a data orchestrator ; and a digital marketplace mas is piloting the esg disclosure portal with sgx, to enable listed companies to carry out baseline sustainability reporting against a set of 27 core metrics. titled esgenome, the sgx portal allows companies'one - time inputs to be automatically mapped across a range of major sustainability standards and frameworks 9 / 11 bis - central bankers'speeches sustainability reports can be automatically generated from these inputs. for the next stage, we plan to scale esgenome into a national - level disclosure utility that meets the reporting needs of all companies, following a public consultation. we will also cater for cross - border interoperability, to allow banks and investors to tap on disclosures outside singapore. the esg registry uses distributed ledger technology to record and maintain the provenance of green certifications issued by various sectoral bodies. titled esgpedia, it allows banks to access various green certifications through a single interface. we will continue to build up the registry's network of certifications, providing more confidence to users of these data. data orchestration entails aggregating esg data from multiple data sources to meet specific green and transition financing needs. this requires interoperability and consent - based access to major esg data providers, utilities providers, sectoral platforms, and of course the esg registry itself. we are already doing small - scale pilots to identify financing gaps and technology solutions for decarbonisation in priority sectors such as energy, real estate, agriculture, and transportation. we will partner financial institutions to integrate more advanced datasets into their financing frameworks. the digital marketplace aims to synergise connectivity across the greenprint utilities and facilitate access to esg data. it will facilitate linkages between esg fintech solution providers and investors, financial institutions, and corporates. it will also house an esg data directory to facilitate discovery and access to the esg datasets contributed by the greenprint digital utilities and collaborators. we aim to launch the digital marketplace next year. through project greenprint, we want to make singapore a launchpad for esg fintech solutions that will help drive asia's and the world's transition to net - zero. conclusion let

are used for their intended purposes. we can programme the beneficiaries and purposes into the money itself. the programmability comes from tokenising the money and placing it on a distributed ledger. there are four options for programmable money : cryptocurrencies, stablecoins, tokenised bank deposits, and central bank digital currencies or cbdcs. cryptocurrencies are a non - starter. they have performed poorly as a medium of exchange as well as a store of value. given its volatility and speculative nature, cryptocurrencies do not hold promise to serve as money in the first place. stablecoins are more promising. if well - regulated and securely backed by reserves – as per mas'latest proposed regulations – they combine the benefits of stability and programmability. but their pervasive take - up remains to be seen. tokenised bank deposits are digital representation of commercial banks'deposits that can be used as digital cash to make payments or buy and sell digital assets without going through the banking system. cbdcs, as direct liabilities of the central bank, marry the advantages of central bank issued cash with the advantages of the blockchain. they are essentially digital, programmable versions of cash. where does mas stand with respect to these four forms of programmable money? if i can summarise, mas is essentially : discouraging retail investment in cryptocurrencies ; facilitating stablecoins through sound regulation ; 5 / 11 bis - central bankers'speeches allowing tokenised bank deposits ; and experimenting with cbdcs. last week, mas published two consultation papers that illustrate our differentiated approach to digital currencies. the first proposed regulatory measures to reduce the risk of consumer harm from trading cryptocurrencies. naturally, this attracted much media and public attention. the second paper set out regulatory measures for stablecoins in singapore. informed players in the industry paid close attention to this. mas expects all stablecoins and tokenised deposits issued in singapore to meet a minimum standard with regard to the surety of its value. this will be done through regulatory requirements on the quality of backing, redemption at par, and base capital. these measures will help position singapore as a credible hub for sound and wellregulated stablecoins with value - adding use cases. just as the heat of fire reshapes objects into new forms, we want to reshape money through our experiments with token