Bamboo Capital Group has announced a partnership with STACS to utilise their ESGpedia platform to support corporate sustainability and ESG reporting for businesses in Vietnam.
Through the partnership, Bamboo are integrating ESGpedia to support companies to calculate their Scope 1 and 2 carbon emissions. Companies will be able to complete their guided self-assessments and input details on electricity and water consumption to attain greater insights into their carbon footprint figures, which are automatically calculated and localised to Vietnam.
ESGpedia reportedly covers over five million sustainability data points, helping financial institutions and companies to achieve strategic sustainability goals through robust global ESG data, as well as solutions and analytics.
“There is an increasing trend of ESG awareness and requirements in Vietnam today as Vietnam becomes increasingly important in the global supply chain. Yet, many of the businesses are lacking the expertise and resources to start,” Andy Tan, group strategy director at Bamboo, commented.
“We hope that our partnership with ESGpedia will allow companies to gain an understanding of their carbon footprint and current sustainability standing in a simple and guided manner, and ultimately lower the barrier of entry to kickstart and set the necessary foundation for businesses to embark on decarbonisation and corporate sustainability.”
Renewable energy is another focus of the partnership, with renewable energy certificates (RECs) offering companies in Vietnam the opportunity to reduce their Scope 2 carbon emissions from electricity use.
While REC is considered a key instrument in Asia’s transition to a net-zero economy, transparency and traceability is a current industry challenge. Through the partnership, Bamboo Capital are aiming to utilise ESGpedia to promote greater transparency of the RECs lifecycle by recording all attributes of RECs, 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.
“Corporate sustainability involves every participant along the entire value chain, from SMEs to large corporates and financial institutions. However, this is often not easy due to the lack of available tools and data for companies embarking on this journey,” said Benjamin Soh, founder and managing director at STACS.
“We aim to provide a seamless and digital end-to-end experience for all companies in Vietnam and across ASEAN to now be able to gain awareness of their sustainability profile and greenhouse gas (GHG) footprint and take steps to manage their GHG emissions through active decarbonisation strategies and energy transition measures.”