The Role of Heriot-Watt in The Net-Zero Agenda

March 23, 2023October 6, 2023 - by Business News - Leave a Comment

Heriot-Watt University Malaysia (HWUM) recently organized the Putrajaya Net-Zero Emission Roundtable 2023, supported by the British High Commission and the British Council in Malaysia. The event aimed to help Malaysia achieve its carbon neutrality goal by 2050 by building leadership capacity to identify and implement pathways to carbon neutrality. Key attendees included Datuk Dr Aminuddin Hassim from the Ministry of Science, Technology, and Innovation (MOSTI) and British High Commissioner to Malaysia, His Excellency Charles Hay. Hay emphasized the UK’s collaboration with Malaysia on climate action, including the UK-Malaysia Climate Partnership MOU and various climate projects. Experts Talk on Net-Zero The roundtable brought together representatives from government agencies, industry, and academia to discuss talent development, green finance, science and technology, and policy and strategy towards achieving the Net-Zero agenda. Key topics included the importance of corporate purpose in driving sustainability, leveraging technology to reduce carbon emissions, the need for global standards on corporate taxonomy, and upskilling and reskilling the workforce for green jobs. The event featured keynote speeches from thought leaders at Heriot-Watt University, addressing the adverse effects of fossil fuels, holistic decarbonisation, green financing, and purpose-driven leadership. The full findings and recommendations of the Net-Zero Roundtable will be available in April 2023 on the HWUM website. MySOMPO Roadside Assistance App is Available Now In the event of an accident or breakdown, they may be surrounded by tow truck operators offering to tow their vehicles to workshops they are not familiar with – Tan Sek Kee Business NewsNews Admin

Business News / Cars / Tech

Huawei, JJ-LAPP and SHRDC Form Alliance To Increase Solar Industry Talent Pool

December 20, 2022October 6, 2023 - by Business News - Leave a Comment

Huawei Technologies (Malaysia) Sdn Bhd (Huawei Malaysia), JJ-LAPP (M) Sdn Bhd (JJ-LAPP) and the Selangor Human Resource Development Centre (SHRDC) inked a Memorandum of Understanding (MoU) to develop a talent ecosystem alliance to boost the visibility of JJ-LAPP and Huawei’s solar Photovoltaic (PV) products and increase the skilled workforce in Malaysia. As solar energy becomes one of the latest trends towards a sustainable ecosystem, the alliance will work towards equipping the workforce with the latest knowledge and skills needed to grow the green energy industry. Mitsubishi Motors’ All-New eK X EV Wins Japan Car and K Car of the Year In terms of driving performance, many commented that its handling and dynamic performance surpass those of conventional kei-cars. Business NewsSharifah Nuraini binti Syed Khir Anuar The MoU will see the three parties working together to launch a training programme, with SHRDC as the main training provider in efforts towards bridging the renewable talent gap in the country. SHRDC, an industry-led talent development centre, will become a sustainable channel to promote and provide training facilities and the facilitation of the programme which will benefit both students and the industry at large. Aim from the Collaboration Reiterating their commitment and support to accelerate Malaysia’s progress towards carbon neutrality by 2050, Huawei Malaysia and JJ-LAPP will take on the role as training partners for the programme. As experts in the field of solar, both parties will provide course materials, assessment, equipment, as well as a learning, technical and networking platform for the participants in the programme. The facilities available during the training include purpose-designed classrooms, solar PV workshops, and roof-top solar panels for hands-on learning, supported by experienced trainers with a dedicated operations team. The programme will also include solar PV pre-sales and after-sales service training to introduce the correct standard operating procedures…

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Volvo Cars Now A Founding Member of Accelerating to Zero Coalition

November 22, 2022October 7, 2023 - by Business News - Leave a Comment

Kuala Lumpur, 22 November 2022 – Volvo Cars announced that it is joining the Accelerating to Zero Coalition, which was launched last week at the UN Climate Change Conference (COP27) in Sharm El Sheikh, Egypt. During COP27, Volvo Cars also called on countries to step up their own climate action and meet the threat of global warming. Selling On Plantation Stocks Market volatility is expected to remain heightened and see the index trend between the 1,430-1,450 range with selling on the Plantation sector today Business NewsNews Admin The Accelerating to Zero Coalition consists of a broad group of stakeholders committed to facilitating and increasing the pace of the transition to zero emission mobility. It builds on last year’s Glasgow Declaration on Zero Emission Vehicles at COP26. Signatories committed to work towards making 100 per cent of global car and van sales free of tailpipe emissions by 2040, and no later than 2035 in leading markets (Europe, China, Japan and the US). The formation of the Coalition addresses the need for an international platform for global zero tailpipe emission vehicle (ZEV) leadership. Through close collaboration, it aims to help create the right conditions to boost zero tailpipe emission cars and vans, including through the electrification of corporate fleets and the development of a comprehensive charging infrastructure. Volvo Cars chief executive Jim Rowan will welcome its formation and collaborative approach as part of the Coalition launch during COP27, and encourage more manufacturers to sign the Declaration and join the Coalition. Ex-bank Officer Prostituted His Wife To Pay Off Debts – Latest Malaysia He prostituted his wife and then he says he is very embarrassed after he was caught in a hotel where the police saved the woman Latest MalaysiaA Maria With its ambition to be a fully electric car company by 2030,…

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Petronas Leads SEA’s Net Zero Campaign

November 4, 2022October 6, 2023 - by Business News - Leave a Comment

KUALA LUMPUR, Nov 4 — Driven by the urgency of the energy trilemma of security, affordability, and environmental sustainability, PETRONAS is providing leadership in Southeast Asia’s discourse on efforts to accelerate collaborations in net zero solutions and ensure an effective and just energy transition in the region. To further reinforce this effort, PETRONAS will organise Energy Asia, a conference focused on the energy transition and sustainability agendas and has concluded an agreement to have CERAWeek by S&P Global to serve as the conference’s knowledge partner. The agreement will support Energy Asia’s efforts to enable greater collaboration and actionable steps to frame and realize Asia’s net zero carbon ambitions. Energy Asia will be the nexus of conversations designed to shape Asia’s net zero future. At a document exchange ceremony during the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2022, PETRONAS President and Group CEO, Datuk Tengku Muhammad Taufik says, “PETRONAS’ partnership with CERAWeek underlines our shared ambition to address energy transition justly and responsibly. “As a progressive energy and solutions partner operating at the heart of the region, PETRONAS stands firmly guided by its belief that the transition strategy must be realistic and practical considering the unique conditions of Southeast Asia. Together with CERAWeek, PETRONAS looks forward to accelerating and fostering greater regional partnerships that will chart the critical pathways towards delivering a net zero future.” Pavilion Damansara Heights Mall Bakal Dilancarkan Pada Mei 2023 Barisan penyewa ini terdiri daripada restoran-restoran tersohor, jenama fesyen mewah, dan juga jenama terkenal yang lain. Business NewsNews Admin Net Zero and Needs of Growing Economies “Moving from the ‘what’ to the ‘how’ of net-zero while meeting the needs of growing economies is an important and complex endeavor for ASEAN countries that represent a combined $10 trillion in gross domestic product,” said Daniel Yergin, Vice…

Banking and Finance / Business News / Sustainability

Petronas: 2050 As Target For Net Zero

November 2, 2022October 7, 2023 - by Business News - Leave a Comment

PETRONAS has announced its Net Zero Carbon Emissions by 2050 (NZCE 2050) pathway to accelerate and advance groupwide actions and commitment towards achieving net zero future ambitions. The pathway – with short-, medium- and long-term targets – will steer and provide a trajectory for the Group and its stakeholders to progress towards the ambitious NZCE 2050 aspiration that was announced earlier in November 2020. PETRONAS President and Group CEO, Datuk Tengku Muhammad Taufik said, “PETRONAS remains fully committed to providing the world with the energy it needs, while still ensuring it meets the climate goals of the Paris Agreement. “The pathway will see us address emissions from our integrated energy portfolio at pace in order to ensure our customers have safer, reliable, cost-optimised, and emissions-abated energy solutions. As we progress towards NZCE 2050, PETRONAS’ priority is to remain in step with the societies we serve, and address energy transition in a just and responsible manner.” AmBank And Persatuan Usahawan Maju In SME Growth Support Deal The partnership is in recognition of SME’s pivotal role in driving Malaysia’s economic recovery and future growth Business NewsNews Admin PETRONAS’ short-term target for 2024 is to cap its greenhouse gas (“GHG”) emissions at 49.5 million tonnes of carbon dioxide equivalent (MtCO₂e) for Scope 1 and Scope 2 emissions in Malaysia. By 2025, the target is to achieve a 50 per cent reduction in methane emissions from the PETRONAS groupwide natural gas value chain. These targets focus on operations within its immediate control that can affect direct change. In the medium-term, PETRONAS targets to achieve GHG emissions reductions of 25 per cent by 2030 from 2019 levels of 57.73 MtCO₂e to reach 43.29 MtCO₂e for groupwide operations based on an equity share approach, where PETRONAS GHG emissions reflect the economic interest of its operations. Part…

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DBS Hong Kong Shows Off Greener Branch Outfits

September 12, 2022October 7, 2023 - by Business News - Leave a Comment

DBS Hong Kong’s new branch outfits may be brown, but to them, it is a statement of how the future of its banking services is green. Hong Kong customers will see local branch staff decked out in their new casual uniforms when they visit any of the bank’s Hong Kong branches every Friday and Saturday. At first glance, the colour-blocked shirts may seem just like your typical shirts. But underneath the seams, the shirts represent everything that the bank wishes to represent: to be an environmentally friendly business with a more youthful yet professional look to appeal to the younger generation, according to Ajay Mathur, head of consumer banking group and wealth management, DBS Bank Hong Kong. Asset Tokenization Growth To Reach $16t Opportunity by 2030 Favorable stakeholder sentiment, recognition among monetary authorities could boost the share of tokenized assets to 10% of global GDP by end of decade Business NewsNews Admin He adds that the new outfits are an example of how the bank embeds environmentally friendly elements and sustainability in every aspect of its business practices. “Customers may feel more relaxed seeing our colleagues in this casual uniform at our branches, knowing that the weekend is coming,” Mathur told Asian Banking & Finance. “Such wardrobe refresh builds on our image as a forward-looking bank of the future, presenting our brand value proposition as encapsulated by the “Live more, Bank less” ethos,” Mathur added. The polo shirts feature a colour-blocking of the bank’s official colours, deep carmine and black at the collar and sleeves. For the bodice, DBS chose a comfortable brown shade that is easy on the eyes of the customers. The most notable feature of the shirts, however, is not their colour scheme but the fabric used. The polo shirts are made from a sustainable fibre mix…

Banking and Finance / Business News / Sustainability

TCFD Report To Help Improve Transparency In Climate Risks

July 21, 2022October 7, 2023 - by Business News - Leave a Comment

HSBC Amanah Malaysia has issued its second Task Force on Climate-related Financial Disclosures (TCFD) report and continues to be the first amongst banks in Malaysia to issue such a report – with reports covering the financial year 2020 and 2021. Developed by the Financial Stability Board in response to the Paris Agreement, TCFD is an internationally recognised disclosure framework that is established to focus on the effects of climate change on companies and the resulting financial risks. TCFD is a key for a company’s sustainability strategy and resiliency and will further build trust between investors and customers. Raja Amir Raja Azwa, Chief Executive Officer, HSBC Amanah says, “Climate change presents both risks and opportunities for businesses and individuals. With increased awareness of climate change, the transparency and disclosure of climate- related risks is a key step towards addressing climate data gaps. “In our second voluntary TCFD report, we have disclosed the progress made and highlighted the initiatives and approach that we will be taking especially in understanding and analysing the climate-related risk of our business and operations. Selangor To Develop Leading Edge Aerospace Park Another Selangor State initiative to maximise growth and potential of the Aerospace industry Business NewsNews Admin “We will also take a phased approach to fully align with the TCFD recommendations in several areas such as our financed emissions, our climate risk management capabilities and our decarbonisation strategy.” Climate-related strategies HSBC Amanah’s climate-related strategies are part of a broader commitment to sustainability that is aligned with HSBC Group’s ambition to become a net zero bank. The bank says the planet urgently needs drastic and lasting action to protect our communities, businesses and natural environment from the damaging effects of climate change. The ability to steer finance for the transformation of businesses and infrastructure will be key in…

Business News / Sustainability / Tech

Petronas Partners With Mitsui In Carbon Capture And Storage Solutions

June 29, 2022October 6, 2023 - by Business News - Leave a Comment

KUALA LUMPUR, June 29 — PETRONAS has signed a MoU with Mitsui & Co Ltd for the conceptual and feasibility studies on carbon capture and storage (CCS) value chain, including the evaluation of carbon dioxide (CO2) storage sites in Malaysia. The MoU was signed in a virtual ceremony on 13 June 2022 by PETRONAS Head of Carbon Management, Emry Hisham and Mitsui & Co. General Manager of Sustainability Energy Development Division Energy Business Unit I and Head of Mitsui Global E&P Group, Yasuchika Maruyama. Under the MoU, both parties will evaluate potential CO2 storage sites offshore Peninsular Malaysia in line with PETRONAS’ aim to establish Malaysia as a CCS regional hub in the Asia Pacific. Carbon Capture and storage Petronas Retains World’s Strongest Oil & Gas Brand Slot According to Brand Finance, PETRONAS is well placed to further strengthen its brand as the company aims to provide a diversified range of energy options Business NewsNews Admin The scope of collaboration covers the evaluation of other CCS value chain, capturing and gathering strategy of CO2 from various industries, competitive transportation of the CO2 and emerging technology in direct air capture. PETRONAS and Mitsui & Co. will leverage the combined strength, network and expertise of both companies to progress in these areas. Emry says, “Through this collaboration, PETRONAS can leverage on Mitsui & Co.’s experience in its CCS project in the United Kingdom, which is the first CO2 appraisal and storage license issued by the United Kingdom’s Oil and Gas Authority. “We are confident that the feasibility studies will bring about valuable contribution in unlocking CCS potential in Malaysia. This is one of the many efforts to establish Malaysia as a leading CCS solutions hub in the region.” This collaboration is part of PETRONAS’ deliberate steps to build a sustainable portfolio to…

Business News / Health and Wellness / Property and Construction / Sustainability

The net-zero journey boosted by a new property green loan

June 10, 2022October 6, 2023 - by Business News - Leave a Comment

HSBC Bank Malaysia and Kerjaya Property Sdn Bhd, have both successfully completed their first green loan for a property developer and it is key to the net-zero journey. The green loan will help Kerjaya Prospek Property facilitate the funding of its integrated development known as ‘Bloomsvale’ located in Old Klang Road, Kuala Lumpur. This green funding is also key to support Kerjaya Prospek Property’s transition towards its net zero plans. By working with HSBC Malaysia and executing its first green loan that is aligned with the Green Loan Principles, an international standard recognised in the global syndicated loan markets, Kerjaya Prospek Property is able to ensure the greening of its development and supply chain and to additionally enable long-term growth while reducing climate impact. The growth and development of communities have a large impact on our natural environment, and the building and construction sectors are one of the key sectors that are able to alleviate and address climate change. Karel Doshi – Country Head of Corporate, Commercial Banking, HSBC Malaysia Datin Toh Siew Chuon – Executive Chairperson, Kerjaya Prospek Property Berhad By developing buildings that are ‘green’ it provides a catalyst and opportunity to save energy, water, and reduce carbon emissions, in addition to educate, create jobs, strengthen communities and improve overall health and well-being. Currently the Bloomsvale Project has achieved a Platinum rating under GreenRE’s provisional certification for the Residential component while its Commercial building component is expected to obtain a Gold rating. The net-zero future How to break the cycle of poverty in a sustainable way Datin Toh Siew Chuon, Executive Chairperson, Kerjaya Prospek Property Berhad says this green loan marks a significant milestone for the company’s sustainability journey. “t is a testament to our commitment to include more sustainable developments to our portfolio and to be more…

Business News / Sustainability

Petronas Delivering Energy Security And Sustainable Value

June 10, 2022October 6, 2023 - by Business News - Leave a Comment

KUALA LUMPUR, 2 June — PETRONAS has recorded favourable financial results for the first quarter of 2022 in an environment still volatile from an uneven post-pandemic recovery and geopolitical uncertainties. The Group continued to undertake significant measures to ensure it remains on a steady footing as heightened concern over disruption in global energy supply elevated prices for liquefied natural gas (LNG), petroleum products and crude oil and condensates. In its role as an energy player, PETRONAS’ priority is to ensure the security of energy supply for Malaysia and its customers around the world. The Group is also determined to fulfil its responsibility towards the goal of net zero and will continue to partner with stakeholders to develop a robust and resilient ecosystem. Beyond business, PETRONAS continues to give back to society and is committed to creating positive social impact for Malaysians and the countries where we operate. In Quarter 1, PETRONAS registered RM96.1 million in CSR contributions in its three focus areas namely, Education, Community Well-being and Development and the Environment. Petronas Q1 FY2022 (Analysis against Q1 FY2021) For the first three months of the year, the Group posted a PAT of RM23.4 billion in tandem with higher revenue, following an upward trend in prices partially offset by higher product costs and taxation. Excluding impairment write back/(losses), the Group recorded a PAT of RM23.7 billion. Revenue stood at RM78.8 billion, compared to the previous corresponding period, predominantly due to price impact for major products in line with higher benchmark prices. EBITDA stood at RM39.6 billion, mainly attributable to higher revenue partially offset by an increase in product costs. Cash Flows from Operating Activities stood at RM27.9 billion in line with higher cash from operations. Overall CAPEX stood at RM7.4 billion whereby domestic CAPEX increased by close to 30 per cent. Upstream remains a major contributor in overall CAPEX spending….