TNB, Sunway inks MoU to fast-track ESG agenda

KUALA LUMPUR: Tenaga Nasional Bhd (TNB) and Sunway Group Bhd have signed a memorandum of understanding (MoU) to propel both organisations' environmental, social and governance (ESG) agenda.

The MoU will allow the TNB and Sunway to create sustainable business values and collaboration opportunities to promote energy transition solutions, accelerate clean businesses, and develop ESG capabilities.

The areas of potential collaboration include, among others, data centre development, the deployment of solar photovoltaic, district cooling, and electric vehicle infrastructure in Sunway's real estate, renewable energy production, energy-related digital solutions, workforce capability, and academic research and development (R&D).

In a joint statement, TNB president and chief executive officer Datuk Indera Ir Baharin Din said the partnership between TNB and Sunway will further push the adoption of sustainable business practices and accelerate the energy transition.

He also mentioned that collaboration is an important step for TNB to promote sustainable energy solutions in the country in order to achieve its ESG goal.

"At TNB, we are committed to driving the nation's energy transition through our net zero emission aspiration and support Malaysia's target to achieve carbon neutrality by 2050.

"In pursuit to fast-track our responsible energy transition plan, we are continuing our substantial investments in the grid of the future, accelerating the decarbonisation of our power generation arm TNB Genco, expanding focus markets to grow our renewable energy (RE) portfolio and focusing on the development of the electric vehicle ecosystem," he said.

Sunway group founder and chairman Tan Sri Dr Jeffrey Cheah said the partnership with TNB will help advance the sustainable development agenda and create long-term value for stakeholders.

"This partnership affirms our shared commitment toward the transition to clean energy and a carbon-neutral economy.

"After introducing a carbon pricing framework into the group last year to spur our decarbonisation efforts, we have taken our pledge to achieve net zero carbon emissions by 2050 one step further this year with the launch of a green lease programme to address Scope 3 emissions.

"We firmly believe that sustainability and profitability can go hand in hand," he said.


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