ONE-stop sustainable energy and engineering solutions specialist Kinergy Advancement Bhd (KAB) (formerly Kejuruteraan Asastera Bhd) continues to strengthen its leadership in environmental, social and governance (ESG) initiatives at the International Greentech & Eco Products Exhibition and Conference Malaysia (IGEM) 2024.
To be staged from Oct 9 to 11 (tomorrow), the event dubbed Southeast Asia’s premier trade event for green technologies and eco-solutions has attracted policymakers, government agencies, investors and business leaders from over 122 countries.
During its exclusive Pocket Talk session, KAB announced its collaboration with Bursa Malaysia’s newly launched Centralised Sustainability Intelligence (CSI) Solution and Alliance Bank Malaysia Bhd (ABMB).
KAB is poised to lead Malaysia’s green energy transition as 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 has incentivised its suppliers to gain direct access to tools that support the measurement and management of their carbon emissions.
Collaborating closely with Bursa Malaysia and ABMB which is also a key partner in the CSI platform, KAB’s suppliers shall benefit from comprehensive support through ABMB’s Green Supply Chain Programme that 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, thus significantly bolstering its efforts to reduce Scope 3 emissions while validating its supply chain partners as sustainable collaborators.
Furthermore, KAB has exemplified its commitment to the 17 United Nations Sustainable Development Goals (UN SDG Goal 17) by fostering partnerships that promote shared values and drives innovations for long-term sustainability.
“KAB has championed its ESG and sustainability targets since 2020 and our efforts are clearly reflected in our progress,” commented KAB’s executive deputy chairman Datuk Lai Keng Onn.
“I take great pride in our recognition as a responsible corporate entity committed to ESG principles. 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.”
Added Lai who is also KAB’s group managing director: “KAB leverages its extensive experience to explore advanced energy alternatives that enhance our solution offerings, thus solidifying our role as a leader in the region’s clean energy transition.”
KAB has set targets for annual reductions in emissions by 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.
At 4.35pm, KAB was unchanged at 33.5 sen with 6.17 million shares traded, thus valuing the company at RM666 mil. – Oct 10, 2024