| Work Detail |
iGem 2024’s Pocket Talk: KAB demonstrated its expanding capabilities, highlighting its portfolio of sustainable energy solutions and advanced technologies driven by the primary objective of enhancing supply chain resilience in climate mitigation efforts. Early Adopter of Bursa Malaysia’s CSI Solution: Collaborates with Alliance Bank for the second time, launching key initiatives to empower suppliers to adopt incentive-based sustainability practices, positioning them as green suppliers for KAB. Advancing Toward Net Zero: KAB continues to make strides in its sustainability journey, actively reducing emissions and contributing to the adaptation efforts of the national and regional sustainability ecosystems. APAC 2024 Top 10 Energy Sustainability Solutions Provider, also known as the One-Stop Sustainable Energy & Engineering Solutions Specialist Kinergy Advancement Berhad, continues to strengthen its leadership in Environmental, Social, and Governance (ESG) initiatives at the International Greentech & Eco Products Exhibition and Conference Malaysia (IGEM) 2024. The event, held from 9th to 11th October 2024, is Southeast Asia’s premier trade event for green technologies and eco-solutions, attracting policymakers, government agencies, investors, and business leaders from over 122 countries. As a key industry participant at this event, KAB captures attention with its latest business advancements. During its exclusive Pocket Talk session on 10 October 2024, KAB announced its successful leadership in guiding suppliers to actively embark on their ESG journey. This includes a focus on its collaboration with Bursa Malaysia’s newly launched Centralised Sustainability Intelligence (CSI) Solution and Alliance Bank Malaysia Berhad (ABMB). Following its recent name change and rebranding transformation, KAB emphasised its key strengths as a differentiated energy player at the event. The Group’s primary advantage lies in its robust technical skills in managing complex sustainable energy projects, supported by a highly skilled team of qualified engineers and a strong presence of energy professionals on its Board. KAB’s leadership is further reinforced by industry recognition, including being named APAC’s Top Energy Sustainability Solutions Provider by Energy Business Review for 2024 and its inclusion in the FTSE4Good Bursa Malaysia (F4GBM) and FTSE4Good Bursa Malaysia Shariah (F4GBMS) Indices as 1 of 11 new entrants in December 2023. The Group has established itself as a technically driven company, delivering scalable solutions and services models with a strong capacity to adapt to sectors’ operational demands. 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. 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, which 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, fostering partnerships that promote shared values and drive innovations for long-term sustainability. Dato’ Lai Keng Onn (“Dato’ Lai”), Executive Deputy Chairman cum Group Managing Director of KAB, emphasised, “KAB has championed its ESG and sustainability targets since 2020 and our efforts are clearly reflected in our progress. 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. 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. We value the trust of our collaborators, particularly Bursa Malaysia and Alliance Bank, who are key partners in pushing our sustainability commitment forward. We believe this initiative will have a lasting impact, as it strongly aligns with Malaysia’s mission of sustainability and corporate responsibility,” concluded Dato Lai. Dr. Aaron Sum, Alliance Bank Group Chief Strategy, Marketing & Business Development Officer of Alliance Bank Malaysia Berhad, shared, “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. Alliance Bank has committed RM1 billion to drive transition financing for SME suppliers on the Bursa CSI platform.” Mr. Wong Chiun Chiek, Director of Bursa Intelligence, asserted, “We commend KAB for extending Alliance Bank’s financing programmes to their suppliers through the CSI Solution. This partnership reflects one of the objectives of the initiative – to support a just transition by providing access to financing for suppliers, whereby financing rates are tied to 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.” KAB has set targets for annual reductions in emissions, 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. This comprehensive approach not only strengthens the group’s resilience but also supports the development of sustainable cities and communities. KAB has proven its capabilities to facilitate sustainable energy transformation, fostering inclusive growth towards Malaysia’s low-carbon objectives and green energy transition while positioning itself as a key player in the ASEAN energy sustainability ecosystem. To date, KAB boasts a successful track record in sustainable energy projects, including clean energy plants, solar, biogas, and hydropower across ASEAN. KAB’s participation at IGEM 2024 aims to showcase the Group’s ongoing efforts to develop, innovate, and expand its sustainable energy portfolio with projects that drive growth. |
