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Funding Societies & STACS team to boost Indonesian MSMEs

By Gloria Mathias

October 20, 2023

  • APAC
  • APAC Fintech
  • APAC Fintech news
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Funding Society, Modalku, Debt Financing, Fintech Funding, APAC Funding, Fintech News, STACS, ESG, Environment, Sustainable Financing,  MSMEs Solutions, Indonesia Funding Societies has joined forces with STACS, to utilize STACS’s ESGpedia platform to support ESG reporting and sustainable financing solutions for MSMEs in Indonesia.

STACS and Funding Societies have taken active steps to support MSMEs on their sustainability journey and to fill the current MSME ESG data gap in the Southeast Asia market, especially in Indonesia.

Through the partnership, Funding Societies will promote STACS’s ESGpedia platform to enable Funding Societies’ ecosystem of MSMEs to easily kickstart their ESG reporting journey.

Through ESGpedia, MSMEs in Indonesia can get free access to a digital platform that simplifies various ESG standards and frameworks and automatically converts operational data like fuel, refrigerant, and electricity consumption to GHG emissions under the standard GHG Protocol, localised to Indonesia. This allows MSMEs as well as Funding Societies to gain greater insights into the company’s carbon footprint to facilitate sustainable financing decisions.

Funding Societies will be able to tap on ESGpedia’s vast data, including over 5 million sustainability data points and 107,000 company profiles aggregated and harmonised by its AI-powered engine, to access vital ESG data for informed lending decisions.

Benjamin Soh, Managing Director at STACS, said, “We are delighted to be partnering with Funding Societies to empower its ecosystem of SMEs in Indonesia in their ESG reporting journey. The partnership’s exploration of sustainability-linked and green financing options based on ESG data aggregated and collected on ESGpedia is also a step forward in improving access to sustainable financing for MSMEs in the region.”

The launch in Indonesia follows the successful launch of ESGpedia in other ASEAN countries: the Philippines with PDS Group in September, as well as in Vietnam with Bamboo Capital Group earlier in August.

Arthur Adisusanto, Country Head at Modalku, said, “Funding Societies is committed to providing access to finance for MSMEs. We are delighted to be joining forces with STACS ESGpedia, to take our mission one step further, enabling MSMEs to be introduced to a platform that allows them to disclose ESG data in a straightforward way.”

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