KUALA LUMPUR: Kinergy Advancement Bhd (KAB), a provider of sustainable energy and engineering solutions, has announced its collaboration with Bursa Malaysia’s newly launched Centralised Sustainability Intelligence (CSI) solution and Alliance Bank Malaysia Bhd (ABMB) at the International Greentech & Eco Products Exhibition and Conference Malaysia (IGEM) 2024.
Collaborating closely with Bursa Malaysia and ABMB, a key partner in the CSI platform, KAB’s suppliers benefit from comprehensive support through ABMB’s Green Supply Chain program.
This program includes ESG training, advisory services, preferential financing rates, and green solutions to help improve their climate performance.
This initiative positions KAB as the first mover in centralising emissions data on Bursa’s CSI platform, significantly bolstering its efforts to reduce Scope 3 emissions while validating its supply chain partners as sustainable collaborators.
Furthermore, KAB exemplifies its commitment to UN SDG Goal 17 by fostering partnerships that promote shared values and drive innovations for long-term sustainability.
KAB executive deputy chairman and group managing director Datuk Lai Keng Onn said the company has championed its ESG and sustainability targets since 2020, and its efforts are reflected in its progress.
“While our ESG and sustainability targets remain among our top priorities, we are boldly expanding our sustainable energy portfolio to align with the nation’s goals for a diversified energy mix.
“KAB leverages its extensive experience to explore advanced energy alternatives that enhance our solution offerings, solidifying our role as a leader in the region’s clean energy transition,“ Lai said.
IGEM is Southeast Asia’s premier green technologies and eco-solutions trade event, attracting policymakers, government agencies, investors, and business leaders from over 122 countries.
To lead Malaysia’s green energy transition, KAB is an early adopter of the Bursa Malaysia CSI solution, which streamlines ESG reporting and aligns with global and domestic sustainability standards.
By leveraging this initiative, KAB incentivises its suppliers to gain direct access to tools that support the measurement and management of their carbon emissions.
ABMB group chief strategy, marketing & business development officer Dr Aaron Sum said the trusted source of ESG data from the CSI solution ensures that quality, actionable information is available to scale this initiative, allowing KAB’s suppliers to be eligible for preferential financing and support.
“ABMB has committed RM1 billion to drive transition financing for SME suppliers on the Bursa CSI platform,” he said.
Bursa Intelligence director Wong Chiun Chiek commended KAB for extending ABMB’s financing programmes to their suppliers through the CSI solution.
“This partnership reflects one of the initiative’s objectives – to support a just transition by providing access to financing for suppliers, whereby financing rates are tiered by their decarbonisation progress.
“KAB’s efforts in advancing ESG practices and integrating sustainability into their operations are notable.
“We encourage SMEs to take advantage of working capital financing offered by our banking partners, which rewards them for adopting strong ESG practices and good disclosures through the CSI solution,” he said.
KAB has set targets for annual emissions reductions, actively addressing both Scope 1 and Scope 2 emissions.
With this latest initiative, KAB is making strides in mitigating Scope 3 emissions and enhancing sustainability across its operations, aligning with UN SDG Goals 7 and 11.
