ESG

ESG, The Executives

Deden: World’s First Geothermal Coffee Pioneer from Kamojang, Indonesia

JAKARTA: Located along the Pacific Ring of Fire, Indonesia holds immense geothermal potential, accounting for around 40% of the world’s total geothermal reserves. Kamojang stands as a key milestone in the country’s geothermal history. Since its initial exploration in 1926, Kamojang has not only consistently supplied clean energy but also made history as the birthplace of the world’s first coffee innovation processed using geothermal steam. is the pioneer behind this innovation. Since 2023, Deden, together with local entrepreneurs, has been harnessing the natural wealth of his hometown with support from PT Pertamina Geothermal Energy Tbk (PGE) (IDX: PGEO), which has operated in Kamojang since 1983. The Beginning of His Coffee Business Before inventing the geothermal coffee innovation, Deden had been running a coffee business since 2015, including managing his own coffee shop. He is also active as the Head of Karang Taruna (Youth Organization) in Ibun District, Bandung, making his café a popular gathering place for locals and PGE employees to relax and share stories. Since then, Deden began to establish a good relationship with the employees of PGE Kamojang Area. This closeness developed through casual conversations often filled with discussions about coffee, from the production process to the potential for developing local coffee. After building a good relationship with employees of PGE Kamojang Area, Deden often engaged in casual conversations about coffee. These discussions eventually evolved into a concrete idea when PGE expressed interest in starting a coffee development program, which Deden enthusiastically welcomed. “At that time, I considered the idea to be a challenge. I saw geothermal potential as an opportunity to provide solutions to various problems faced by conventional coffee producers,” he explained. From Concept to Cup: Geothermal Coffee is Born Together with PGE, Deden conducted intensive research to identify the fermentation techniques best suited to the geothermal characteristics used in coffee processing. “I conducted fermentation research for almost a year. From more than 20 processes we tried, we finally found three that best fit the characteristics of the drying process,” he said. Following the research, Deden began producing coffee using Arabica beans grown in the highlands of Kamojang, at an altitude of around 1,500 meters above sea level. He then empowered local coffee entrepreneurs to build a more efficient business ecosystem through the use of ‘Geothermal Dry House’ technology, which utilizes geothermal steam trap from PGE as a substitute for sunlight, enabling a more stable, hygienic, and high-quality drying process. From a business perspective, this technology excels by accelerating the drying time up to threefold, resulting in up to 300% efficiency. This means lower operational costs and increased production capacity without additional time or expenses. “This technology also minimizes the risk of bacterial contamination from outside sources. That way, the bacteria that affect the process only come from the fermentation before drying. In terms of taste, the end result is more fruity, with a stronger aroma, and a smoother texture compared to coffee processed conventionally,” he explained. Now, Deden manages Geothermal Coffee Process (GCP) as Managing Director, where he collaborates with PGE to empower coffee farmers in Kamojang. GCP processes post-harvest coffee beans into green beans, partnering with over 80 farmers and absorbing 20 tons of coffee last season. Moving forward, Deden aims to develop GCP into an integrated business that delivers a broader social and economic impact for the community. Taking Indonesian Innovation Global In the first year of its launch, Deden mentioned that there were parties from abroad interested in replicating this system. “We felt it was important to patent it immediately. Rather than having this concept adopted by external parties first, it’s better for us to develop it domestically. We want the Indonesian people, especially in coffee-producing areas close to geothermal sources, to be the first to implement a similar concept,” Deden hoped. This is what fueled Deden’s spirit to introduce geothermal coffee as an original Indonesian innovation to the global stage. His efforts paid off, as GCP succeeded in penetrating international markets by starting to export its products to Japan. This year, they even aim to expand exports to Europe. “From the beginning, my friends at PGE Kamojang have always believed in me and encouraged me to keep trying new things. This collaboration is not just about inventing the world’s first geothermal coffee, but also about opening doors for us, local entrepreneurs, to grow, learn, and dream bigger. We are increasingly experiencing the benefits of geothermal energy, not just as a source of electricity in our homes, but also as a door that opens up opportunities for a better life,” he concluded. With a background as a vocational high school graduate in pharmacy, Deden is now exploring the opportunity to pursue a bachelor’s degree through a scholarship program from PGE. He has chosen to major in business management, aiming to realize his dream of building a sustainable enterprise, which he sees as his true challenge.

ESG, News

UOB Malaysia and Bursa Malaysia Collaborate to Support SMEs on Decarbonisation Journey

KUALA LUMPUR: UOB Malaysia today announced a collaboration with Bursa Malaysia Berhad (Bursa Malaysia or the Exchange) to facilitate Small and Medium-sized Enterprises (SMEs) in adopting sustainability practices and advancing their decarbonisation journey. This collaboration is central to the Bank’s newly expanded Sustainability Accelerator Programme 2.0 (SAP 2.0). First launched in October 2023, SAP 1.0 was designed to equip SMEs with foundational knowledge to kick-start their ESG journey, enabled through UOB’s Sustainability Compass tool (co-developed with PWC) and customised financing solutions such as the U-Series (comprising U-Energy, U-Solar and U-Drive). Building on the success of the initial phase, SAP 2.0 takes the Bank’s commitment further by providing its SME clients with access to Bursa Malaysia’s Centralised Sustainability Intelligence (CSI) Solution, reducing complexities of emissions calculation and facilitating uptake of relevant decarbonisation solutions. Speaking at the launch held at UOB Plaza 1 Kuala Lumpur attended by senior representatives of both organisations, industry stakeholders and the bank’s SME clients, Ms Ng Wei Wei, Chief Executive Officer of UOB Malaysia, said, “We are honoured to be the first bank to partner with Bursa Malaysia. Under UOB’s SAP 2.0 Programme, in addition to our enhanced suites of SME-centric solutions, the Bank will also fund Bursa’s CSI Solution’s subscription fees for our SME clients. Greenhouse gas (GHG) emissions reporting can be a daunting aspect of the decarbonisation journey, and by lowering this barrier and helping them calculate and report their GHG emissions more effectively, we hope to empower more SMEs to transition. I truly believe that strong public-private collaboration is essential to help businesses to decarbonise”. Dato’ Fad’l Mohamed, Chief Executive Officer of Bursa Malaysia, said “This collaboration with UOB Malaysia marks a significant step forward in expanding our CSI ecosystem to benefit a wider group of companies. Just as our CSI Solution has empowered public listed companies (PLCs) to meet disclosure obligations and guide their decarbonisation, we are now extending the same capabilities to SMEs, enabling them to progress confidently on their sustainability journey. We applaud UOB Malaysia for taking proactive steps in encouraging sustainable business practices among SMEs, particularly through the use of the CSI Solution. We look forward to seeing other financial institutions follow suit. These collective efforts will accelerate Malaysia’s transition to a low-carbon economy”. The CSI Platform serves as the Exchange’s designated sustainability reporting channel for all PLCs. As part of this designation, the platform supports the ISSB IFRS S1 and S2 disclosure requirements adopted under the National Sustainability Reporting Framework (NSRF). With the Scope 3 emissions disclosure requirement commencing in phases, starting 2027, SMEs within the PLCs’ supply chains will need to be prepared to meet these reporting obligations. The UOB-Bursa Malaysia collaboration aims to better equip participating SMEs to meet growing sustainability demands from stakeholders, including large customers like multinational corporations (MNCs) and public-listed companies (PLCs), for GHG emissions data for their Scope 3 supply chain emissions reporting. Besides Bursa Malaysia, UOB Malaysia has also joined forces with Control Union and DHL Express Malaysia to offer a suite of solutions in the areas of emissions data assurance, green certifications, green logistics, energy efficiency and renewable energy initiatives. UOB Malaysia’s pioneering initiative under the SAP 2.0 programme reflects the Bank’s steadfast commitment to promoting sustainable practices among SMEs, contributing to the broader goal of an inclusive and sustainable future.

ESG, Property

PropertyGuru Report Highlights Growing Demand for Sustainable Homes

PropertyGuru Group, Southeast Asia’s leading property technology company, has released its Sustainability Report 2024, reinforcing its commitment to fostering inclusive and sustainable urban living. As the region’s urban population is projected to reach 63% by 2050, PropertyGuru’s initiatives aim to address growing urban challenges by leveraging data, digital tools, and strategic collaborations. The report highlights key insights from PropertyGuru’s 2024 survey, revealing that 83% of Malaysians are willing to pay a premium for homes with sustainable features. These features are valued for their ability to reduce utility costs, enhance climate resilience, and retain long-term value. PropertyGuru, which attracts 32 million monthly visits from property seekers and works with 50,000 active real estate agents across the region, continues to introduce platform innovations to address the property market’s evolving needs. Cécile Corda, Head of Sustainability at PropertyGuru Group, emphasised the growing demand for sustainable and inclusive housing. “At PropertyGuru, we’re responding to this demand with actionable solutions. By equipping property seekers and stakeholders with the tools to make informed, sustainable choices, we’re helping to build cities that are resilient and inclusive,” she said. Data-Driven Solutions for Sustainable Housing The report also indicates that 77% of Malaysians now factor climate risks into their home-buying decisions. PropertyGuru Malaysia has responded by providing data-driven insights, including historical disaster data on flood-prone and landslide-risk areas, allowing developers to assess risks at a neighbourhood level. The company has also launched educational content on climate-proofing properties, reinforcing its role in promoting public awareness. Promoting inclusivity is another central theme of the report. Following the successful introduction of the ‘Everyone Welcome’ tag in Singapore last year, PropertyGuru has now launched the feature in Malaysia. This tool highlights rental listings where landlords are open to tenants of all races, genders, and religions, fostering diversity and fair housing practices. PropertyGuru’s community initiatives also saw volunteers partnering with The Lost Food Project to recover 2,600kg of surplus food, providing over 7,600 meals and preventing more than 6 tonnes of carbon emissions. Additionally, the company plans to launch a ‘Women Leaders Programme’ in Malaysia to enhance inclusivity within its workforce. Commitment to Climate Action The report underscores PropertyGuru’s strong commitment to reducing its environmental impact. After establishing a baseline for its greenhouse gas (GHG) emissions, the company achieved net-zero status for direct operations by transitioning to 100% renewable energy. Moreover, to reduce the energy usage of its data infrastructure, PropertyGuru has adopted more energy-efficient cloud solutions, further advancing its decarbonisation efforts. Kenneth Soh, Country Manager of PropertyGuru Malaysia, pointed out a notable shift in home searches. Areas such as Kota Emerald, Kuah, and Ulu Kelang have seen over 100% year-on-year search growth, driven by affordability. “Meeting this demand requires integrating sustainable features into mid-market and rental segments. The future of housing in Malaysia depends on making sustainable living accessible to all,” Soh noted. By aligning its efforts with emerging consumer expectations, PropertyGuru remains committed to supporting sustainable living choices and fostering inclusive communities, making sustainability a realistic option for a broader demographic. For more information, download the full PropertyGuru Sustainability Report 2024 here.

Energy & Technology, ESG

Malaysia, Japan Seal RM1.34 Billion in Green Bioeconomy Deals at EXPO 2025 Osaka

Osaka: Malaysia and Japan marked a new milestone in green bioeconomy cooperation with the signing of three strategic agreements worth RM1.34 billion at Expo 2025 Osaka. The occasion, held at the Malaysia Pavilion on 12 May in conjunction with the launch of the Ministry of Science, Technology and Innovation (MOSTI) Week, marked a significant step forward in advancing joint efforts by both nations to drive the low-carbon and bio-based economy agenda, in line with global sustainability commitments. Malaysia was represented by the Malaysian Bioeconomy Development Corporation (Bioeconomy Corporation), an agency under the Ministry of Science, Technology and Innovation (MOSTI), which has been instrumental in driving this collaborative initiative forward. According to Chief Executive Officer of Bioeconomy Corporation, En. Mohd Khairul Fidzal Abdul Razak, Japan’s selection as Malaysia’s strategic partner in innovation and technology reflects the strength of global cooperation to advance green economic growth and address global climate challenges. “Malaysia is proud to showcase the nation’s bioeconomy potential to the global market through strategic collaborations such as this. While leveraging Japan’s expertise in green innovation, BioNexus Status companies and those under the Bio-based Accelerator (BBA) programme are well positioned to drive transformation in renewable energy, sustainable agriculture, and bio-based products. This joint effort not only generates economic value but also contributes meaningfully towards a more sustainable, low-carbon future at both regional and global levels,” he said. The collaborations involve the development of renewable energy and the commercialisation of sustainable biotechnology products, aligning with the aspirations of the National Biotechnology Policy 2.0 and global sustainability goals. The first agreement involved reNIKOLA Holdings Sdn Bhd and Japanese conglomerate Sumitomo Corporation to explore a joint venture in developing renewable fuels such as biomethane and low-carbon derivatives including liquefied biomethane (LBM) and biomethanol by converting palm oil production residues. In the second agreement, MTC Orec Sdn Bhd, a bioenergy company under the Bio-based Accelerator (BBA) programme, and Japan’s IHI Plant Services Corporation entered into a collaboration for the development of biogas technology in Southeast Asia. Meanwhile, BioNexus Status company Glyken Bio Products Sdn Bhd signed a Memorandum of Agreement and supply contract with Japan’s Respect Co., Ltd. for the distribution of its bird’s nest glycopeptide-based products in the Japanese market. Mohd Khairul Fidzal added that the collaborations also reflect the alignment between Malaysia’s commitment to sustainable innovation and the theme of Expo 2025 Osaka, “Designing Future Society for Our Lives.” “It’s not just about accelerating market access and technology transfer,” said Mohd Khairul Fidzal, “but also about creating opportunities for the joint development of solutions to address climate change, energy security, and economic resilience. “Bioeconomy Corporation remains committed to strengthening international collaborations, expanding the innovation ecosystem, and exploring global opportunities to help local companies break into international markets in support of a more inclusive and competitive bioeconomy agenda.” Meanwhile, Malaysia Pavilion Director, Ellyza Mastura Ahmad Hanipiah, commented, “On behalf of Malaysia Pavilion, we are honoured to support MOSTI’s ongoing efforts in deepening global partnerships and driving quality investments into the country. “With a continued focus on fostering strategic collaboration, Malaysia Pavilion will remain a key platform for initiatives that unlock economic opportunities and strengthen international ties. In line with our target of securing at least RM13 billion in potential trade and investment and attracting 1.5 million visitors, we are fully committed to positioning Expo 2025 Osaka, Kansai as a premier stage for innovation, sustainable growth, and global engagement.”

ESG, News

reNIKOLA and Sumitomo Sign MOU to Drive Bioenergy Transition in Southeast Asia

OSAKA: reNIKOLA Holdings Sdn BHD (“reNIKOLA”) and Sumitomo Corporation have entered into a Memorandum of Understanding (“MOU”) on 12 May 2025 to jointly develop a portfolio of large-scale bioenergy projects in Malaysia and Indonesia. The strategic partnership signed at the Malaysia Pavilion at Expo 2025 Osaka, Kansai, Japan marks a significant step forward in advancing the region’s clean energy transition. The MOU was signed by Mr. Boumhidi Abdelali, Managing Director of reNIKOLA, and Mr. Takechi Muramatsu, Head of Indonesia Energy Solution Unit No.2 of Sumitomo Corporation. The ceremony was witnessed by YBhg. Datuk Seri Hj. Hasnol Zam Zam bin Hj. Ahmad, the Secretary General of Malaysian Ministry of Science and Technology (MOSTI). The collaboration will focus on converting palm oil production residues into advanced renewable fuels, targeting the development of biomethane and low-carbon derivatives such as but not limited to liquefied biomethane (LBM) and biomethanol. This initiative aims to fortify the region’s energy resilience with the conversion of palm oil wastes into sustainable fuel, whilst spearheading the decarbonization of the palm oil sector. This collaboration is set to accelerate the transformation of Malaysia and Indonesia, the world’s largest palm oil producers into low carbon economies. The sustainable development driven by this partnership is expected to build a next-generation business that contributes to a carbon-neutral society by establishing a sustainable energy cycle and advancing global decarbonization. “This collaboration with Sumitomo Corporation represents a significant milestone in propelling the growth of bioenergy across the region. reNIKOLA is honoured to be at the forefront of this initiative, and we are grateful for our partners and stakeholders who share the commitment and passion in realising this,” said Boumhidi Abdelali (“Adel”), Managing Director of reNIKOLA. “We are confident that this partnership will be the bedrock of a cleaner and more sustainable future in both Malaysia and Indonesia, while raising the benchmark for sustainability within the palm oil industry.” Adel added, “We are also thankful to Bioeconomy Corporation for their unwavering support and recognition for our technology and expertise. To date, we have registered our company in Bioeconomy Corporation’s Bio-based Accelerator Program, which is aimed to infuse science, technology, and strategic investments into our bioenergy business. We are also in the process of obtaining Bio-Nexus Status for reNIKOLA.” “We are delighted to partner with reNIKOLA, a company that shares our dedication to sustainable growth and energy transition,” said Takechi Muramatsu of Sumitomo Corporation. “By combining our expertise and resources, we aim to set new standards for innovation, environmental responsibility, and low-carbon energy solutions in the region, whilst driving Asia’s clean energy transition.” reNIKOLA, with its strategic shareholder B.Grimm Power, is scaling its renewable energy portfolio, targeting the development of more than 40 projects over the next three years, with primary focus on sustainable fuels. Group President of B.Grimm Power, Dr. Harald Link said, “This MOU marks a pivotal entry point for the Group into the bioenergy sector — a bold step aligned with our commitment to sustainability and innovation. It reflects our vision of Empowering the World Compassionately, by creating cleaner energy solutions for a better tomorrow.”

ESG, News

KT&G to Plant 10000 Trees in Mongolia as Part of Climate Initiative

South Korean tobacco company KT&G has announced plans to extend its environmental initiative, the “Forest of Imagination,” to Argalant, Mongolia. Building on previous afforestation projects in Ulaanbaatar, the company aims to plant 10,000 Ulmus pumila trees, known for their adaptability to harsh climates. The project, managed through the Mongolian Agricultural Education Center under the KT&G Welfare Foundation, will also establish an irrigation system to support sustainable forest development. Local residents will be trained and employed for tree planting and maintenance, fostering long-term environmental management and community participation. Funding for the project comes from KT&G’s “Imagination Fund,” a matching grant initiative where employees contribute a portion of their salaries, with the company matching the amount. This approach reflects KT&G’s commitment to global citizenship and social responsibility. A KT&G Welfare Foundation representative stated that the project aligns with the company’s commitment to addressing climate change and supporting local ecosystems. As part of its broader sustainability strategy, KT&G has also signed a memorandum of understanding with the Asian Forest Cooperation Organization to support forest conservation across Asia. In addition to the Mongolian project, the partnership will focus on reforestation efforts in Kazakhstan’s fire-affected Abai region and mangrove restoration initiatives in Indonesia, further emphasizing KT&G’s dedication to environmental stewardship in the region. -Korea Herald

Energy & Technology, ESG

Trinasolar Powers Landmark 40 MW Northern Philippine Solar Project by PetroGreen

MANILA: Trinasolar, a global smart PV and energy storage solutions provider, has supplied 52,000 of its n-type i-TOPCon Vertex N 710-715W (NEG21C.20) modules for the Limbauan Solar Power Project (LSPP), a 40-megawatt direct current (MWdc) solar facility in San Pablo, Isabela, Philippines. Developed by BKS Green Energy Corporation (BKS), a subsidiary of Rizal Green Energy Corporation (RGEC), a joint venture between PetroGreen Energy Corporation (PGEC) and Japan’s TAISEI Corporation, the project aims to bolster Luzon grid’s renewable energy supply. LSPP is projected to generate approximately 59 gigawatt-hours (GWh) of clean energy annually, sufficient to power around 33,000 households and reduce carbon dioxide emissions by about 31,700 metric tons. This initiative marks a significant step towards enhancing Philippines’ renewable energy infrastructure and promoting sustainable development. The project is divided into two phases: a 6 MWdc Phase 1 connecting to the Isabela Electric Cooperative-II (ISELCO-II) system, and a 34 MWdc Phase 2 connecting to the National Grid Corporation of the Philippines’ (NGCP) 69 kV Tuguegarao-Cabagan line via a 4.73 km dedicated transmission facility. Beyond supplying high-efficiency and high-power modules, Trinasolar actively contributed to the project’s success by providing training programs aimed at upskilling local talent. This initiative aligns with the project’s goal of employing approximately 500-600 workers at the peak of construction, fostering economic growth in the Cagayan Valley region. Maria Victoria M. Olivar, PGEC Vice President for Business Development and Commercial Operations said, “We are thrilled to officially begin the installation of LSPP’s PV panels in the presence of our various stakeholders – private and public – especially local government officials of our host communities who are strong supporters of PetroGreen’s first investment in Region 2.” Atty. Angelynn C. Salazar conveyed a message from Isabela Governor Rodolfo T. Albano III saying, “The project also serves as a powerful reminder of what can be achieved when government, private sectors, and local communities work together toward a common goal.” Elva Wang, Trinasolar’s Group Director for Southeast Asia said, “Philippines boasts immense potential to harness solar energy to meet its rising energy demands. By integrating our Vertex N modules, featuring cutting-edge n-type i-TOPCon technology, into the LSPP, we are delivering exceptional efficiency and energy output. Building upon our successful partnership, including the 117MW supply agreement signed in April 2024, we are committed to supporting PetroGreen in accelerating the adoption of clean energy solutions across the nation.” -PR Newswire

ESG, News

30% Club Malaysia Marks 10th Anniversary with Launch of Men Allies for Parity Movement

KUALA LUMPUR: The 30% Club Malaysia has launched the Men Allies for Parity initiative to engage male leaders in boardrooms, C-suites, and policymaking roles in driving systemic change for women’s representation in leadership. The initiative emphasises that meaningful change is only possible when everyone—regardless of gender—actively participates in this transformative journey. “This initiative shifts from advocacy to action, with male allies making a pledge to show their commitment to advancing women’s representation in top decision-making roles, including in boardrooms and senior management,” said Nurul A’in Abdul Latif, Chair of the 30% Club Malaysia and Executive Chair of PwC Malaysia. Nurul added that based on data provided by the Securities Commission Malaysia as of April 1, 2025, women hold 33.1% of board seats in Malaysia’s top 100 public-listed companies (PLCs) on Bursa Malaysia, up from 14% in 2015. Women currently make up 28% of board members across all PLCs. “The 30% Club believes that balanced leadership is a strategic advantage for businesses and leads to better business outcomes. This is not about tokenism, compliance, or furthering self-interest, it’s about building the conditions for the best talent to excel. The Men Allies for Parity movement recognises the value that equity brings for both men and women. The support of the men in our network is not just welcome, but essential in the path to parity.” Nurul was speaking at the 30% Club Malaysia 10th Anniversary celebration held in Kuala Lumpur recently. Also present at the celebration was Securities Commission Malaysia’s Executive Chairman Dato’ Mohammad Faiz Azmi. She said for the past decade; the 30% Club Malaysia has worked to raise awareness and push for more women to be included on company boards. The Men Allies for Parity initiative highlights real actions and shared responsibility, with the aim of shaping an Inclusive Future together—the guiding theme of the 30% Club Malaysia this year. It resonates with the vision of creating a future where gender equality and inclusivity are integral to the success of organisations and society at large.  The Men Allies for Parity pledge includes commitments such as endorsing emerging women leaders for senior roles, ensuring female candidates are considered in executive and board searches, setting internal targets to increase women’s representation in top management, and implementing transparent reporting mechanisms on gender composition and progression.  A light-touch monitoring framework is being developed to track progress. The focus is on transparency, allowing organisations to learn and improve. Peer accountability and public transparency will drive the approach, with progress showcased through case studies and success stories to encourage wider adoption.  The 30% Club Malaysia is a business-led campaign with a primary focus on facilitating at least 30% women representation at senior decision-making levels in Malaysia, including boards and C-suite. The campaign supports setting voluntary gender balance targets instead of mandatory quotas, with 30% being a tipping point towards achieving true parity. While gender parity is the main focus, the 30% Club Malaysia also supports wider inclusion, helping to build strong talent pipelines and workplace cultures where everyone can succeed and lead.  The 30% Club Malaysia’s approach is voluntary. It operates with volunteer professionals and business leaders from various industries taking ownership in driving change and advancing gender diversity as a strategic imperative. The event was supported by the Securities Commission Malaysia and our event partners are ASTRO, Berjaya Corporation Berhad, Bursa Malaysia Berhad, Malaysian Institute for Development of Professionals, Nespresso Malaysia, Star Media Group, Sunway Berhad, Tropicana Corporation Berhad, TBWA Malaysia, and Velesto Energy Berhad.

ESG

Systems-based approach drives Southeast Asia’s green economy growth

KUALA LUMPUR: Southeast Asian markets are rethinking their approach to sustainable growth amid global economic uncertainties. A newly published report, the 6th edition of Southeast Asia’s Green Economy by Bain & Company, GenZero, Google, Standard Chartered, and Temasek, highlights the importance of a systems-based strategy to unlock growth while balancing environmental impact. The report suggests that Southeast Asia’s green economy should be seen as an interconnected system, identifying systemic barriers that hinder progress and proposing scalable, high-impact solutions. Implementing these changes could potentially generate up to USD 120 billion in GDP growth, create 900,000 jobs, and reduce emissions by up to 50% by 2030. Turning Challenges into Opportunities Dale Hardcastle, Co-Director of Bain & Company’s Global Sustainability Innovation Center, noted that Southeast Asia has the potential to accelerate its green economy by focusing on scalable systems-level solutions. “By focusing on scalable, high-impact systems-level solutions, Southeast Asia can rewrite the green economy playbook and turn current challenges into opportunities,” he said. Three Key Systems-Level Solutions The report highlights three crucial systems-level solutions: Sustainable Bioeconomy: Improving agricultural productivity, implementing nature-based solutions, and reforming supply chains could help reduce emissions and create economic value. Next-Gen Grid Development: Expanding and modernising the domestic grid with renewable integration and cross-border connections could lower decarbonisation costs by 11% by 2050. Electric Vehicle (EV) Ecosystem: Scaling EV adoption and local production is essential for maintaining the region’s manufacturing competitiveness. Green corridors could facilitate commercial fleet electrification. Enabling Solutions for Success The report also highlights three enabling solutions to maximise impact: Climate and Transition Finance: Despite growth, there remains a funding gap of USD 50 billion. Blended finance and public-private partnerships are critical for progress. Carbon Markets: Enhancing regulatory frameworks and creating robust credit systems are necessary to boost investor confidence and meet climate targets. Green AI: Leveraging AI to optimise energy consumption in data centres and high-emission sectors could reduce emissions by 3-5%. Spencer Low, Head of Regional Sustainability at Google, stressed the importance of managing AI’s environmental footprint. “We need to responsibly manage the environmental footprint of AI and data centres through model optimisation, efficient infrastructure, and emissions reductions,” he said. Green Investments on the Rise Private green investments in SEA-6 rose by 43% to USD 8 billion in 2024, with solar energy investments doubling and waste management projects increasing by 60%. Foreign investments from APAC have doubled, while domestic investments fell by 40%. Mak Joon Nien, CEO of Standard Chartered Malaysia, emphasised the need for increased capital flow. “The transition to a low-carbon economy is more compelling and crucial than ever,” he stated. Collaboration Is Key The report calls for increased collaboration between Southeast Asia and the broader APAC region to build a resilient green economy. Joint investments, shared technologies, and coordinated policies can help achieve the dual goals of economic growth and emission reduction. The systems-based approach is not just a strategy for reducing emissions but a fundamental shift towards sustainable economic growth that positions Southeast Asia as a global leader in the green economy.

ESG

Bank Rakyat, Mastercard Unveil Accessible Touch Card

KUALA LUMPUR: Bank Rakyat and Mastercard have collaborated to integrate Mastercard’s Touch Card™ feature into a selected range of bank cards. Developed by Mastercard, the Touch Card™ features simple yet distinct notches to help blind and partially sighted cardholders identify their credit, debit and prepaid cards. The Touch Card™ was designed with accessibility in mind to bring a greater sense of security, inclusivity and independence to the 2.2 billion people around the world with visual impairments. In Malaysia, the Department of Statistics Malaysia (DOSM) reports that there are almost 64,000 people who are visually impaired1. As more cards move to flat designs without embossed names and numbers, identifying cards can become challenging for individuals with visual impairments. The Touch Card™ addresses this by incorporating a distinctive tactile notch design, cut from the short edge, with up to three variations — rounded for debit, squared for credit and triangular for prepaid — so anyone can identify their cards with just a touch and correctly orient them when making payments or using ATMs. Since April 2025, Bank Rakyat has been using the Touch Card™ feature for two of its existing portfolios: the Bank Rakyat Muslimah Credit Card-i, a Shariah-compliant credit card specifically for women, will feature a squarish notch, and the Bank Rakyat Debit Card-i, which will have a rounded notch. Prior to this rollout, Bank Rakyat worked with Persatuan Orang-Orang Cacat Penglihatan Islam Malaysia (PERTIS) to gain valuable insights into the challenges faced by individuals with visual impairments. These insights laid the foundation of its collaboration with Mastercard, supporting the introduction of the Touch Card™ to its customers in Malaysia. Through this initiative, the Bank established a collaboration with PERTIS, and as of April 2025, the first 30 PERTIS members to receive the Touch Card™ have each received an RM200 incentive via the Bank Rakyat Debit Card-i. This initiative reinforces Bank Rakyat’s efforts to customer-centric banking and inclusivity – being the first Islamic bank in Malaysia to launch such an innovation – while aligning with Mastercard’s commitment to creating more accessible and inclusive payment experiences globally. “At its core, Mastercard is committed to fostering a more inclusive economy that works for people from all walks of life. The integration of Mastercard’s Touch Card™ design with Bank Rakyat, the first Islamic bank in Malaysia to adopt this feature, reflects Mastercard’s dedication to working with like-minded partners globally to enhance accessibility and inclusivity. Today, Mastercard is excited to put this simple but very meaningful design solution at the fingertips of Malaysians. The Touch Card™ empowers partially sighted and blind individuals by providing an intuitive and easy way to identify and use their bank cards with just a touch, so that they can also benefit from the convenience, control and security that card payments offer,” said Beena Pothen, Country Manager, Malaysia and Brunei, Mastercard. “Financial services should be inclusive and accessible to everyone. The introduction of the Touch Card™ reflects Bank Rakyat’s commitment to enhancing banking experiences for all Malaysians, including those with visual impairments. Through our collaboration with PERTIS and Mastercard, we have integrated the Touch Card™ feature into selected card offerings to meet the specific needs of the visually impaired community, going beyond compliance to deliver solutions that genuinely improve everyday banking,” said Ahmad Shahril Mohd Shariff, Bank Rakyat’s Chief Executive Officer. This collaboration is further strengthened by the support of non-governmental organizations (NGOs) such as Persatuan Orang-Orang Cacat Penglihatan Islam Malaysia (PERTIS), which advocates for the visually impaired community and champions initiatives like the Touch Card™ to enhance financial accessibility. Mastercard’s Touch Card™ was originally co-designed with IDEMIA, a global leader in augmented identity solutions, and has been vetted and endorsed by the Royal National Institute of Blind People (RNIB) in the UK and VISIONS/Services for the Blind and Visually Impaired in the US.

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