KUALA LUMPUR: As companies intensify their focus on decarbonisation, Malaysian businesses have significant opportunities to become key providers of ESG-driven solutions, says Matthias Gelber.

Known as the “Greenest Man on Earth”, the co-founder of the ESG Innovation Hub in the Philippines spoke at a panel discussion during the ESG Summit 2024 yesterday, sharing ways Malaysian innovators can capitalise on this emerging market.

“There are tonnes of opportunities to sell companies tech that helps them reach their goals,” he said during the discussion titled “ESG Disclosure to ESG Innovation: Delivering Real Positive Environmental and Social Impacts”.

He said energy management systems is one of the primary areas for growth as these systems help companies monitor and reduce energy consumption, with some allowing a shift to renewable energy sources.

“Decarbonisation is a huge focus for companies right now, so there’s a clear need for solutions that make these targets achievable,” he said.

Gelber said that waste reduction and circular economy practices were also untapped potential.

“Maybe it’s technology that helps companies recycle more or find new uses for old materials,” he suggested. “Or even simple but effective changes that create a big impact without major disruptions.”

Gelber described data centres, known for their high energy demands, as a “hotbed for decarbonisation opportunities”.

He encouraged local companies to explore advanced cooling systems, such as liquid cooling and energy-efficient air conditioning, as well as renewable energy integrations like solar panels or small wind turbines.

“Cooling all those servers uses a ton of energy, so more efficient cooling is an obvious solution,” he said, adding that companies could also look into capturing waste heat and repurposing it.

Gelber shared a recent success story involving a Malaysian shopping mall that saved 18% on its electricity bill by replacing the motors.

“This is what businesses are looking for – projects with fast ROIs (return on investment) that don’t require shutting down operations,” he said.

As Malaysian companies embrace decarbonisation and other ESG-driven initiatives, Gelber believes they not only stand to drive sustainable practices but also to secure a competitive edge in the global market.

“Becoming part of this transition isn’t just about doing good; it’s about staying relevant and competitive,” he said.

As one of the sponsors of the summit, Heineken Malaysia said it aims to drive sustainable development in the country by collaborating with key stakeholders.

The company reaffirms its commitment to ESG principles through its Brew a Better World strategy, focusing on net zero, water stewardship and community support.

https://www.thestar.com.my/news/nation/2024/11/08/help-companies-find-ways-to-reduce-energy-consumption