RAM Partners with Carbon Software-as-a-Service Firm MVGX Tech to Expand ESG Analytics Capabilities
KUALA LUMPUR, Malaysia, Sept. 19, 2023 /PRNewswire/ -- RAM Holdings Berhad ("RAM"), the holding company of the leading and largest credit rating agency in Malaysia and Southeast Asia, has entered into a commercial partnership with MVGX Tech ("MVGX") and Carbon Rating Malaysia Sdn Bhd ("CRM") to strengthen RAM's ESG rating capabilities. MVGX is a leading carbon Software-as-a-Service (SaaS) company and has developed best-in-class carbon solutions that empower corporations, governments, and institutions to take action at every stage of their decarbonisation journey. CRM is a management services company specialising in carbon management services and solutions for clients. In the collaboration, RAM will incorporate MVGX's Decarbonisation Rating System into its sustainability services offerings, with customisations to suit local needs. CRM and RAM will jointly work together for the marketing and support for users of the solution.
The new decarbonisation rating solution from RAM, to be deployed online, will enable companies to measure their carbon emissions for Scope 1, 2 and 3, as well as effectively strategise their decarbonisation journey. RAM's decarbonisation rating system leverages a proprietary methodology developed by MVGX, in consultation with TÜV SÜD, a leading ISO certification body. Companies will be objectively rated based on emission measurements in addition to other dimensions and are given a ranking along with a detailed rating report, which is then verified by TÜV SÜD.
MVGX's Decarbonisation Rating System give businesses the assurances that their disclosures are of ISO quality and certified by globally-recognised sustainability standards providers such as the British Standards Institution ("BSI") and TÜV-SÜD. The Decarbonisation Rating System is a core component of MVGX's Carbon Connect Suite, a holistic, end-to-end suite of products and services that are designed to guide corporations and institutions in their decarbonisation journeys. The Carbon Connect Suite is based on a comprehensive framework anchored in the principles of Define, Measure, Mitigate, Offset, Certify, and Finance.
"Asia has huge potential for low carbon investments and energy transition opportunities. Southeast Asia's green future economy requires USD2 trillionMalaysia's moonshot aspirations and net-zero goal by 2050", said Chris W.K. Lee, Group CEO/Executive Director of RAM Holdings Bhd.
Speaking on the partnership, Bo Bai, Executive Chairman of MVGX, said "Our partnership with RAM and CRM is a step in the right direction for local enterprises and we are thrilled to be supporting them with the much-needed tools and advisory as they embark on their decarbonisation journeys. This is especially critical for businesses amid the government's concerted push for sustainability under the MADANI Economic Roadmap, crystallised in various masterplans such as the new Industrial Master Plan 2030 and the National Energy Transition Roadmap. Sustainability is now increasingly a necessity, rather than a nice-to-have. This has led us to choose to partner with RAM, which has under its umbrella, the leading accredited rating agency and a strong proponent of sustainability anchored by deep analytical capabilities."
This view is also shared by Nor Azamin Salleh, Executive Chairman of CRM who opined that, "This partnership opens up possibilities for Malaysian companies to look into embarking into their decarbonisation journey and to address the issue of their carbon footprint in a more accurate and affordable manner. As we strive to harmonise economic growth with environmental stewardship, it becomes imperative to address the carbon emissions conundrum. A uniformed and regulated carbon ratings system can serve as the cornerstone of Malaysia's decarbonisation efforts, fostering transparency, accountability, and a resilient green economy."
About RAM Holdings Berhad
RAM Holdings Bhd (RAM) and its group of companies is a leading provider of independent credit ratings, sustainability and ESG analytics, macroeconomic and fixed income research, risk analytics and consulting, as well as bond pricing and information services. With a deep databank and analytical resources, RAM delivers precise analysis and credible insights that help investors and market participants make better decisions. Wholly-owned RAM Rating Services Bhd is the leading and largest credit rating agency in Southeast Asia (ASEAN) and a pioneer signatory of the UN Principles for Responsible Investment's Statement on ESG in Credit Ratings since 2016. Since inception, it has rated over USD450 billion bonds by more than 750 issuers globally. RAM Sustainability Sdn Bhd, a wholly owned subsidiary, is the first provider of sustainability ratings and second opinions in ASEAN and an approved verifier of climate bonds certification in Malaysia. It is also the first ASEAN observer of the Principles (Green, Social, Sustainability, Sustainability-Linked Bond Principles).
About MVGX Tech Pte. Ltd.
MVGX Tech is a Singapore-based Carbon Software-as-a-Service (SaaS) company that aims to empower corporations, governments, and institutions to take action at every stage of their decarbonisation journeys. Consolidated under the Carbon Connect Suite, MVGX Tech's products, services, and software focus on carbon measurement, reporting, and verification ("MRV") as well as decarbonisation rating, carbon credit development and issuance, carbon credit listing and registry, and carbon credit trading. Carbon Connect Suite is powered by MVGX Tech's proprietary blockchain-enabled technologies including its Non-Fungible Digital Twin (NFDT®) and Digital Carbon Credit (CNT®).
About Carbon Rating Malaysia Sdn Bhd
Carbon Rating Malaysia is an advisory firm that specialises in curating and developing innovative environmental technology and solutions to clients. With a focus on carbon solutions and ESG related topics, CRM provides its customers with bespoke solutions that add innovation and value by partnering with technology partners and solution providers.
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