At the signing ceremony. — Photo courtesy of Bamboo Capital
Bamboo Capital Group (Bamboo Capital) has announced its partnership with Asia’s leading environmental, social, and governance (ESG) data and technology solutions company, STACS, to utilise the ESGpedia platform in corporate sustainability and ESG reporting for Việt Nam's businesses.
This is a crucial step for Bamboo Capital's sustainable growth, creating the foundation for a transparent data system on carbon emissions in Việt Nam and the development of a renewable energy certificate (REC) market.
The first step to corporate sustainability is to raise awareness among businesses and create plans for greenhouse gas (GHG) reduction. The companies also quickly calculate Scope 1 and 2 carbon emissions using the ESBN Asia-Pacific Green Deal digital assessment, which is available for free on ESGpedia.
The ESGpedia application integrates more than five million sustainable data points and offers enterprises solutions and in-depth analysis, steering prominent programmes in Asia, including the Asia-Pacific Green Deal of the Network, the Asian Institute of Sustainable Finance's ESCAP (ESBN), and the ASEAN Single Accesspoint for ESG Data (SAFE) for sustainable enterprises.
Andy Tan, Group Strategy Director at Bamboo Capital, hoped this partnership would help businesses simplify their carbon footprint and sustainability to become sustainable and decarbonise.
Additionally, this partnership actively promotes the REC market in ASEAN and increases its transparency.
While REC is a key instrument in Asia’s transition to a net-zero economy, transparency and traceability are current industry challenges. Bamboo Capital plans to utilise ESGpedia to promote greater transparency of the RECs lifecycle by immutably recording RECs-generated data, including the transaction and ownership details of each REC, as well as the immediate retirement of RECs upon purchase, to ensure no double-trading.
This allows market participants to comprehensively access all attributes and data of RECs via a common registry to facilitate transparency, tracking, and investment decisions.
Benjamin Soh, Founder and Managing Director at STACS, said that the corporation aims to provide complete digital solutions for Việt Nam's companies and the entire ASEAN region to manage greenhouse gas emissions, develop a roadmap to reduce carbon emissions, and convert clean energy accordingly. — VNS