KUALA LUMPUR: The Malaysian Industry-Government Group for High Technology (MIGHT) and Pantas Software Sdn Bhd have inked a Memorandum of Understanding (MoU) to embark on a transformative environmental, social and corporate governance (ESG) project.
The partnership aims to pioneer a Proof of Concept (PoC) Carbon Accounting and Management Software Services towards a new era of corporate sustainability practices starting 1 May 2024.
MIGHT said the project will kick off with a 6-month PoC phase, which will enhance understanding, awareness and commitment to carbon accounting by implementing robust software solutions to monitor and report greenhouse gas emissions accurately.
The technology think tank said that this collaboration will leverage innovative technology to analyse emissions data, pinpoint areas for enhancement and establish emission reduction goals.
“The PoC collaboration represents a significant milestone in integrating ESG principles into corporate governance strategies.
“This venture will empower organisations to address the challenges of a rapidly evolving world while promoting sustainable business practices,” it said.
According to MIGHT, the initiative will give its employees valuable exposure and hands-on experience in adapting to emerging trends and innovations related to emissions for sustainability reporting and management.
“The partnership established underscores MIGHT’s unwavering dedication to fostering a more sustainable future and driving positive change within its ecosystem,” it added.
Greenhouse gas emissions are one of the biggest contributing factors to global warming, which is mainly attributed to human activities such as burning fossil fuels for electricity, heat and transportation.
A study by Statista showed that in 2022, the amount of carbon dioxide (CO2) emissions from energy consumption in Malaysia amounted to approximately 272.9 million metric tons, an increase compared to the previous year. The amount of CO2 emissions from fossil fuel energy consumption in Malaysia was at its highest in that same year.
— BERNAMA
