PR Newswire
22 Sep 2023, 11:30 GMT+10
JAKARTA, Indonesia, Sept. 22, 2023 /PRNewswire/ -- BDO in Indonesia, a member of BDO International Limited, one of the world's largest accounting, tax, and advisory firms, announced a commercial partnership with MVGX Tech, a leading 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. Through its partnership with MVGX Tech, BDO in Indonesia's client base will be able to kickstart their sustainability journeys and strengthen existing ESG initiatives through MVGX Tech's Carbon Connect Suite.
The Carbon Connect Suite is a holistic, end-to-end suite of products, software, and services that enable corporations, governments, and institutions to meet their sustainability commitments. Specifically, under the Carbon Connect Suite, BDO clients will be able to leverage the Carbon Management System and Carbon Rating System which allow companies to evaluate and benchmark their carbon emissions against industry peers while accessing qualitative feedback on milestones achieved and progress to date against their sustainability goals. This is done based on the company's scope 1, 2, and 3 emissions, and assessed based on eight modules that consider factors such as existing emission reduction measures and investments in carbon reduction projects. Overall, this is essential to keeping organisations accountable, enabling them to effectively track, measure, and monitor the quality of their efforts in line with a customised methodology and risk assessment framework based on internationally-recognised standards.
Speaking on the partnership, Gabriel Wong, Co-Founder of MVGX Tech, said "Whether it's governments or private enterprises, providing the technological tools that can ease the financial and operational burden of sustainability reporting requirements has always been our core focus at MVGX Tech. Our goal is to provide solutions that empower them to stay ahead of the curve, enabling them to easily abide by new regulatory requirements. Named the world's sixth-highest fossil polluter in 2022, Indonesia has taken significant steps to mitigate its environmental impact through a combination of government-led and private-sector initiatives. Our partnership with BDO in Indonesia is one of the many initiatives that we hope can help Indonesia establish itself as a leader in the sustainability space."
Thano Tanubrata, the CEO of BDO in Indonesia, said "BDO in Indonesia, as one of the leading firms in Indonesia, is concerned about world problems and situations, especially climate change which is Indonesia's and everyone's concern too. Therefore, BDO in Indonesia, as the Leader of Exceptional Client Service, is proud to help all our clients reduce their carbon footprint and towards achieving Net Zero Emission (NZE), which will have a direct impact on achieving Indonesia's NZE targets and the world NZE target too. We strongly believe that by collaborating with MVGX Tech, a leading Carbon Software-as-a-Service (SaaS) company, our support in every effort to achieve the NZE of our client can be even more optimal."
This partnership comes at an especially critical time for Indonesia amid the accelerated timeline it has set for itself to meet its net-zero targets before 2060. Indonesia is one of the world's leading exporters of commodities such as steel, with exports in 2022 reaching historical highs of IDR 900 trillion (approximately US$60 billion). Such industries are increasingly coming under fire due to their environmental impact, resulting in new reporting frameworks and guidelines being stipulated by trade partners such as the European Union. This includes the European Union's Carbon Border Adjustment Mechanism (CBAM), which aims to limit the import of goods that are produced through carbon-intensive methods by implementing a carbon tariff on heavily-polluting industries. CBAM is part of the European Green Deal and will affect almost 20 percent of Indonesia's exports once in effect by October this year.
All emissions reports submitted by non-EU exporters will need to be certified by a European Union-recognised Global Validation / Verification Body ("VVB"). With MVGX Tech's Carbon Connect Suite, BDO in Indonesia clients that are exporters to the bloc will be able to operate with the peace of mind that their carbon disclosures are ISO verified and are certified by globally-recognised sustainability standards providers such as the British Standards Institution BSI and TV-SD. Furthermore, the use of the Carbon Connect Suite will also prepare them for the implementation of Indonesia's carbon taxation scheme which is estimated to come into effect by mid-2024.
About MVGX Tech Pte. Ltd.
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).
Media Contact (MVGX)
[email protected]
About BDO in Indonesia
BDO in Indonesia is an independent legal entity under the BDO International Limited group that provides a range of professional services ranging from tax and accounting to tax and advisory services. Founded in 1979, BDO in Indonesia is one of the leading accounting firms in Indonesia. Today, BDO in Indonesia works closely with local start-ups and established enterprises to help them achieve the highest level of success.
Media Contact (BDO in Indonesia)
[email protected]
Get a daily dose of Asia Bulletin news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Asia Bulletin.
More InformationWASHINGTON, D.C.: The U.S. government is preparing to revise its influential dietary advice, with a significant shift: dropping the...
ZURICH, Switzerland: The U.S. saw an extraordinary rise in wealth last year, with more than 1,000 people crossing into millionaire...
THE HAGUE, Netherlands: The city that prides itself on being a beacon of peace and justice—home to institutions like the International...
BUENOS AIRES, Argentina: Since taking office in December 2023, Argentine President Javier Milei has implemented sweeping austerity...
LEMBATA, Indonesia: Indonesia's Mount Lewotobi Laki Laki erupted dramatically on June 18, generating substantial ash and smoke plumes....
MADRID, Spain: A routine oversight by Spain's power grid operator, REE, has been identified as the trigger behind the large-scale blackout...
HAYWARD, California: In a significant step toward its commercial debut, Amazon-owned Zoox has unveiled its first factory dedicated...
SAO PAULO, Brazil: Brazil is taking confident steps to restore its dominance in global poultry exports after declaring its commercial...
NEW YORK, New YorK - U.S. stocks closed mixed on Friday, with gains and losses modest, as investors and traders weighed up the escalation...
WASHINGTON, D.C.: Retail sales dropped sharply in May as consumer spending slowed after a strong start to the year, primarily due to...
WASHINGTON, D.C.: Mitsubishi Motors is the latest automaker to raise prices in the United States, joining a growing list of car companies...
INDIANAPOLIS, Indiana: Eli Lilly is making a bold play in cardiovascular gene therapy, announcing plans to acquire its partner Verve...