Vincent Fabian Thomas (The Jakarta Post)
Thu, June 2, 2022
Multinational technology firms SAP and IBM are calling on banks in Asia Pacific to expand sustainable finance practices, hoping to grow market demand for big data technology to track environmental, social and governance (ESG) indicators.
Bambang Moerwato, regional vice president of multinational software firm SAP, said banks could offer incentives like decreased borrowing costs for companies trying to make their operations greener. These efforts could reinforce government initiatives to accelerate sustainable finance.
“So it’s becoming a race, and there’s a survey, which calls out sustainability as one of the risks that many banks will be talking about, and seriously need to tackle. So this has to be managed beyond just what we report,” Bambang told reporters in Singapore.
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