KAB Accelerates Supply Chain Decarbonisation with Strategic Partnerships
Kinergy Advancement Bhd (KAB) has announced a significant partnership with Bursa Malaysia’s newly launched Centralised Sustainability Intelligence (CSI) solution and Alliance Bank Malaysia Bhd (ABMB) at IGEM 2024 to accelerate supply chain decarbonisation efforts. Through this collaboration, KAB’s suppliers gain access to comprehensive support via ABMB’s Green Supply Chain program, which includes ESG training, advisory services, and preferential financing rates aimed at improving climate performance.
KAB Drives Sustainable Progress
KAB executive deputy chairman, Datuk Lai Keng Onn, remarked, “While our ESG and sustainability targets remain among our top priorities, we are boldly expanding our sustainable energy portfolio.” This initiative makes KAB the first mover in centralising emissions data on Bursa’s CSI platform, enabling the reduction of Scope 3 emissions and reinforcing its position as a leader in clean energy transition. The partnership supports Malaysia’s green energy transition and aligns with UN SDG Goals 7, 11, and 17, promoting sustainability through innovative solutions and collaboration.
In addition, ABMB has committed RM1 billion to drive transition financing for SME suppliers on the Bursa CSI platform. Dr. Aaron Sum of ABMB highlighted that the CSI solution provides a trusted source of ESG data, ensuring that KAB’s suppliers have access to quality information to enhance their decarbonisation efforts. This partnership not only helps KAB achieve its sustainability goals but also incentivises suppliers to adopt strong ESG practices, further advancing the green energy agenda in the region.