Environmental, social, and governance (ESG) criteria are gaining heightened significance for companies on a global scale.
The evolving awareness and commitment to sustainable business practices are reshaping the way companies operate and how they are viewed by stakeholders.
Thus, Malakoff Corp Bhd, a member of the MMC Group, has embarked on a "bold" rebranding.
The company, currently in its next transformational stage, said it was driving change to realise the nation's carbon neutrality and circular economy ambitions through three business pillars.
The Malakoff Green Solutions pillar focuses on providing green energy solutions through sustainable best practices. Malakoff Environmental Solutions highlights environmental management and solutions dedicated to serving communities and the planet; and Malakoff Energy provides energy management solutions.
Embarking on a visionary path, Malakoff signed a memorandum of understanding (MoU) with MMC Ports on Oct 4, spanning players like Northport (Malaysia) Bhd, Johor Port Bhd, Tanjung Pelepas Sdn Bhd and Penang Port Bhd.
On Nov 1, Malakoff Radiance, a subsidiary of Malakoff, inked a Solar Power Purchase Agreement (SPPA) with the DRB-HICOM group for the development, operation, and maintenance of solar photovoltaic systems across 14 locations.
The 20.78 megawatts (MWp) total capacity underscores Malakoff's pivotal role in driving impactful change in the realm of sustainable energy.
Malakoff also signed an SPPA with Gas Malaysia Bhd, expanding its footprint in solar energy. The deal includes the development, operation and maintenance of solar photovoltaic systems at three key Gas Malaysia sites.
Recently, it inked a heads of agreement with Abu Dhabi Future Energy Company PJSC (Masdar) to identify potential investment and development of solar photovoltaic power plant projects with a targeted capacity of up to 1,000 MW, and to explore other potential renewable energy (RE) projects in Peninsular Malaysia.
Subsequently, Malakoff has secured a solar agreement with Railway Assets Corporation (RAC) and Keretapi Tanah Melayu Bhd (KTMB) for the development, operation and maintenance of carport and rooftop solar systems at railway stations, depots and a park-and-ride terminal in Perak, Penang, Selangor, Johor and Negri Sembilan.
In total, Malakoff secured 38 new rooftop solar projects in 2023, boasting an impressive cumulative capacity of 18.2MWp.
Beyond solar, Malakoff is set to elevate sustainability with the installation of electric vehicle (EV) charging stations at Gas Malaysia headquarters and Gas Malaysia's location in Jalan Gurney, Kuala Lumpur.
Adding its RE portfolio is the achievement of financial close for the development of three run-of-river small hydropower plants (SHPs) along Sungai Galas in Kuala Krai, Kelantan.
The SHPs have a total installed capacity of 84 MW, namely Kemubu SHP (29 MW), Kuala Geris SHP (25 MW) and Serasa SHP (30 MW).
In a move towards sustainable waste management, Malakoff unveiled its environmental solutions initiative, the Recovery Initiative Sustainable Eco-Facility (RISE) in Kuala Lumpur.
Spanning 30,124 sq ft, RISE has processed a remarkable 857 tonnes of waste, marking a significant step towards a greener and cleaner environment.
As the nation embarks on its RE journey, Malakoff is spearheading the Biomass Co-firing Project, a flagship catalyst initiative within the National Energy Transition Roadmap.
Amongst the 10 flagship catalyst projects and initiatives, Malakoff will be leading the biomass co-firing at its existing 2,100 MW Tanjung Bin Power Plant, being the only public-listed company involved in this project.
A pilot phase of co-firing will commence in 2024 with up to 15 per cent biomass co-firing capacity by 2027, with the potential for it to be scalable to higher capacity thereafter.
Recently, Malakoff secured the "Independent Power Producer of the Year" award at the esteemed Enlit Asia 2023 conference summit. It was also recognised at the Sustainability and CSR Malaysia Awards 2023 with the "Company of the Year (Energy) for Sustainable Leadership" award.
Its subsidiary, Alam Flora Sdn Bhd, also emerged as a recipient at the Sustainability and CSR Malaysia Awards, winning the "Company of the Year (Waste Management)" award for its initiatives in community support.
These achievements showed Malakoff's commitments towards a sustainable future and align with its tagline of "Enhancing Life, Enriching Communities".