Carbon Next

As 2023 is the planet’s warmest year on record, according to scientists from NOAA's (National Oceanic & Atmospheric Administration) National Centers for Environmental Information (NCEI), climate change is one of the most if not the most challenging issue faced by humans today. We believe that with collective efforts from all parties, climate change is a battle that humanity can overcome. Therefore, reducing carbon emissions is the most crucial step to reverse climate change globally. More than 140 countries have committed to achieve Carbon Net Zero status, covering close to 90% of global emissions.

However, most countries are struggling to be on pace with decarbonization plans. Why? The complexity. With many drastic measures needed to be in place in two decades, the difficulty of implementation is beyond comprehension for most people, businesses and also governments.

Let’s look into ASEAN, with a population of 666 million across the region, it is the third largest population in the world. For 2022, the estimated GDP for ASEAN is USD 3.6 trillion, with rich natural resources, a young demographic and already a strategic trade destination, it is poised to be the next economic powerhouse. There are approximately 70 million businesses in the region, all of which must embark on this journey of neutralizing carbon emissions in their operations. We believe there is a gap we can help to close, and we are dedicated to contribute to ASEAN’s climate supporting position.  

Our answer is a complete climate technology solution for businesses in ASEAN, helping them to achieve Carbon Net Zero through measuring, reducing, transforming and achieving.

Transitioning into Climate Supporting status is a significant step for businesses, therefore having sufficient funding from banks play a huge role. In Malaysia, Bank Negara Malaysia is advocating Green Financing for businesses, helping them to start their decarbonization plans and reduce carbon emissions.

By 2026, 50% of all financing from banks and financial institutions must be green or climate supporting, hence billions of funds will serve as the transformation drive for businesses.

At Carbon Next, we work hand-in-hand with banks in their Environmental Risk Analysis (part of ESG metrics) and Climate Risk Assessments (GHG Protocol) while evaluating the eligibility of a business to obtain a green loan. We do so by providing a Verified Report for the business’s carbon emissions level, fully compliant with international standards. This ensures the validity of data points being disclosed, therefore further strengthening the reporting process for banks to evaluate.

Moving forward, we aspire to work with other ASEAN banks, insurance companies and other lending organizations to enhance the climate supporting credit system.