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To advertise sustainable power practices, Pantas Software program Sdn Bhd (a carbon administration and ESG options supplier) not too long ago signed a Memorandum of Understanding (MoU) with Solarvest Holdings Bhd (a photo voltaic power firm providing a spread of fresh power options).
Particularly, the MoU is to combine Solarvest’s clear power options into Pantas’ AI-powered carbon administration and ESG platform, which goals to measure, scale back, and report clients’ carbon footprint, and subsequently provide tailor-made decarbonisation options.
Collectively, they intention to co-develop a key sensible metrics system for decarbonisation suggestions.
Elaborating on this, Pantas’ CEO and co-founder, Max Lee, stated that the sensible metrics system makes use of insights from companions like Solarvest whereas leveraging AI to analyse knowledge from shoppers. It generates tailor-made decarbonisation methods, together with renewable power, waste, and fleet administration options.
He added, “The system estimates prices, ROI, and payback intervals for photo voltaic options based mostly on present market costs for photo voltaic panels and electrical energy tariffs. This permits our shoppers to make financially savvy selections about photo voltaic power adoption.”
The brand new collaboration, which was sealed on February 15, 2024, will likely be executed beneath the Financial institution Negara Malaysia’s Greening Worth Chain (GVS) programme. For context, the programme is meant to assist SMEs start their journey in sustainability reporting.
As a part of this MoU, Solarvest serves because the decarbonisation associate that may incentivise and help native companies to take the primary steps in the direction of sustainable operations.
Alternatively, Pantas serves because the digital associate and advocates for clear power options that align with their actionable knowledge insights.
Collectively, the 2 firms present an end-to-end decarbonisation journey aimed to streamline and speed up the adoption of renewable power.
Companies can leverage this newest providing from Pantas and Solarvest by accessing as much as RM10 million in financing by BNM’s Low Carbon Transition Facility (LCTF), at a most financing charge of 5% each year.
Pivoting in the direction of sustainability options
A few of you would possibly bear in mind this, however Pantas was in a special subject earlier than June 2022. The corporate was centered on e-invoicing and financing for SMEs earlier than pivoting to change into a carbon administration and ESG platform.
Confiding in us, CEO Max Lee shared that their preliminary focus didn’t obtain the anticipated market penetration.
On the similar time, they recognized a major but unmet demand in Southeast Asia for automated options in carbon administration and ESG reporting.
“Our market evaluation revealed a robust urge for food amongst companies for such companies, evidenced by their willingness to shortly decide to contracts of a yr or longer,” he stated.
In Malaysia significantly, they discovered that firms confronted important challenges with ESG reporting, particularly in managing and reporting carbon emissions precisely.
Pantas is available in by providing companies to streamline the reporting course of, making it simpler to handle and fewer resource-intensive for companies.
Via this, the corporate assists shoppers in assembly stringent regulatory calls for and facilitates a smoother transition in the direction of sustainability.
Additional growing the native ESG panorama
Being a part of the trade, Max shared that Malaysia’s ESG framework is steadily growing. The emphasis at the moment is on integrating ESG rules into varied sectors.
Though nonetheless in its early levels, there’s noticeable momentum pushed by regulatory initiatives and rising market curiosity.
To additional improve ESG adoption, he really helpful three areas that we have to deal with:
Rising schooling and consciousness on the significance of ESG
Introducing monetary incentives like tax reductions for ESG-compliant firms
Adopting standardised ESG reporting pointers that’s just like Bursa Malaysia’s Sustainability Reporting Information for listed firms
That stated, since pivoting in June 2022, Max reported that Pantas has acquired a rising curiosity and inquiries from shoppers. This displays a constructive pattern in the direction of ESG integration in Malaysia.
To this point, their clientele consists of notable organisations like AmBank Group, SP Setia, Pos Malaysia, and Kasikorn Financial institution which is one in all Thailand’s largest banks.
“For continued progress, it’s essential for all stakeholders, together with the federal government, companies, and NGOs, to collaborate in selling ESG practices. Such efforts can speed up Malaysia’s journey in the direction of sustainability and align it nearer to international ESG requirements,” he concluded.
Be taught extra about Pantas Software program Sdn Bhd right here.
Be taught extra about Solarvest Holdings Bhd right here.
Learn different articles we’ve written about Malaysian startups right here.
Featured Picture Credit score: Pantas Software program Sdn Bhd
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