Sembcorp launches carbon management solutions corporate venture GoNetZero at COP27

Singapore-based Sembcorp Industries on Tuesday launched its carbon management solutions corporate venture, GoNetZero, to complement its offering as a leading pan-Asian renewable energy player.

The company, which on Sunday announced it would acquire Vector Green Energy for Rs 2,780 crore to expand its renewable energy footprint in India to 3 gigawatts (GW), said it will work with its customers to support their corporate climate action plans under its GoNetZero solutions.

Sembcorp Industries (Sembcorp) will be launching its carbon management solutions corporate venture, GoNetZeroTM, today at the Singapore Pavilion at the 27th United Nations Climate Change Conference (COP27) in Egypt, the company said in a release.

By offering one-stop access to renewable energy certificates and carbon credits as well as renewable energy and environmental attribute portfolio management, GoNetZero works with its customers to support their corporate climate action plans.

Ng Lay San, Co-founder and Head of GoNetZero, said ''Corporates hold the key towards global net zero emissions. GoNetZeroTM provides corporates with the full suite of solutions from renewable energy certificates to carbon credits, to achieve their decarbonisation goals.'' Charles Koh, Platform Founder of GoNetZero and Chief Digital Officer of Sembcorp said, ''we have built the GoNetZero™ digital platform using blockchain technology. The platform provides analytics, reporting and tracking tools, with the capability to verify renewable energy from source in real time. Corporate customers can execute their climate action plans with confidence and transparency.'' Partnering leading corporates on decarbonisation initiatives several initiatives in collaboration with leading industry players will be announced together with the launch of GoNetZero.

OCBC Bank is partnering GoNetZero on a renewable energy certificate aggregation programme with financing support. The programme aims to encourage corporates to deploy and adopt renewable energy through various initiatives.

The first phase of the programme will target companies in Singapore, with plans to expand to Southeast Asia later.

Razer, the leading global lifestyle brand for gamers, launched its sustainability service Restorify last week.

Fronted by Razer Fintech, the company's financial technology arm, Restorify offers traceable and fractionalised carbon neutral checkout to both consumers and businesses. This is made possible through its partnership with GoNetZero and ESGpedia.

Together with GoNetZero, UBS in Singapore is piloting Asia's first hourly matching of power consumption with renewable energy that it procures in Singapore following EnergyTag's certification standards.

Using GoNetZero's blockchain-based digital platform, the pilot at UBS' Singapore office will showcase the possibility of time-based granular verification and tracking, to identify opportunities for further carbon footprint reduction.

Supported by EDB's Corporate Venture Launchpad, GoNetZero was supported by the Singapore Economic Development Board's (EDB) Corporate Venture Launchpad, a corporate venturing programme to help companies launch new ventures from Singapore with the potential to become globally leading businesses.

This announcement has no impact on the earnings per share and net asset value per share of Sembcorp Industries for the financial year ending December 31, 2022.

Sembcorp Industries (Sembcorp) is a leading energy and urban solutions provider, driven by its purpose to do good and play its part in building a sustainable future.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)