KUALA LUMPUR: Solarvest Holdings Bhd and Pantas Software Sdn Bhd are working on using the former's clean energy solutions and developing a smart metrics system to help reduce carbon emissions.
The collaboration, supported by Bank Negara Malaysia's Greening Value Chain (GVC) programme, will use Pantas' AI-powered carbon management and ESG platform alongside Solarvest's clean energy solutions.
"This will help measure, reduce, and report customers' carbon footprint, providing tailored decarbonisation solutions," Solarvest said in a statement.
Solarvest will assist Malaysian businesses in implementing sustainable changes, while Pantas will offer digital support and complement these efforts with actionable data insights.
Together, they aim to simplify and accelerate the adoption of renewable energy, providing a comprehensive decarbonisation journey.
Solarvest executive director and group chief executive officer Davis Chong Chun Shiong is excited about entering the digital space to assist businesses in achieving their ESG goals.
He highlighted Pantas' innovative decarbonisation solutions as effective tools to manage carbon footprints and develop actionable decarbonisation plans.
Chong said research found nearly half (46 per cent) of the Malaysia's business lack a budget for sustainability initiatives.
"To address this issue, it is crucial to look into the gaps in tax incentives and financing options such as Green Investment Tax Allowance, Green Income Tax Exemption, and Green Technology Financing Scheme to lower the entry barrier, making renewable energy more viable and attractive," he added.
Pantas chief executive officer Max Lee said the company's end-to-end climate technology platform provides a critical tool for businesses to measure, manage and reduce their carbon footprint.
"Together, we are setting new standards in environmental stewardship, offering bespoke decarbonisation strategies that empower businesses to navigate towards a sustainable, low-carbon future," he added.