PETALING JAYA: BidMyAsset supports businesses in adopting circular economy principles in which assets are reused, recycled or repurposed, rather than discarded, which aligns with the goal of achieving carbon neutrality by 2050, its co-founder, Jeevan Muniandy, said.
“The company provides a platform that facilitates the efficiency of sustainable asset disposal and acquisition for both buyer and seller, which will not only help businesses reduce their carbon footprint, but also contribute to national and global sustainability goals,” he told SunBiz in an exclusive interview.
He added that the company promotes practices to reduce carbon emissions and enhance resource efficiency.
“BidMyAsset supports companies to adopt and adapt to the need for circular economy principles,” said Jeevan.
On opportunities for companies to implement sustainability, he highlighted the possibility of getting data that can be processed into getting a good rating when companies dispose of unused or not-in-use assets, which will help in environmental, social and governance (ESG) reporting.
“Companies are advised to collect data, which may sometimes seem quite substantial when it comes to sustainability, while the current status of many companies are looking only from the value angle of the machine, but not looking at the byproduct of selling, which is the carbon footprint,” Jeevan said.
“Sustainability will not be a success with only words, but with understanding the environment and the responsibility of keeping the environment for a longer period in a good condition,” he remarked.
Jeevan said BidMyAsset aims to assist other companies in assessing their carbon footprint, a need some companies may not be aware of. This assistance helps them understand the environmental benefits they can achieve by selling or extending the life of their existing assets.
“The company was founded with the vision of creating a marketplace that facilitates the sustainable acquisition of assets. By recognising the inefficiencies and environmental impacts of traditional asset disposal methods, BidMyAsset aims to bridge the gap between buyers and sellers,” he said.
Jeevan highlighted the importance of ESG and sustainability in BidMyAsset’s stance where investors are now scrutinising companies for environmental and social impact and making sustainable practices as critical factors in investment decisions.
“The company embarks on making sure that others understand the impact of these practices, especially for further enhancement of their reputation by principally reporting their sustainability efforts and achievements, which will reflect the responsibility of protecting not just shareholders, but also the environment,” he said.
Meanwhile, Jeevan emphasised that the need for talent in the sustainability industry is crucial. BidMyAsset has developed a talent acquisition strategy to attract individuals who align with the company’s vision of enhancing sustainability.
“One of the biggest challenges the company has faced is attracting talent that aligns with the vision. The company is looking to recruit a team that is not only skilled but also passionate about sustainability, which requires a clear articulation of BidMyAsset’s vision and values. The company’s strategy has begun by collaborating informally with polytechnics, universities, and vocational colleges to facilitate internships at BidMyAsset,” he said.
