15/04/2026

ESG WEDNESDAY | APR 15, 2026

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Asia-Pacific at forefront of global green finance

Solarvest wins EPCC contract for project in Perlis under LSS5+ KUALA LUMPUR: Regional clean energy solutions provider

digital performance analytics, enabling real-time system visibility and predictive operational insights. The monitoring platform features automated alert mecha nisms that allow early detection of anomalies, rapid response to operational issues, and proactive maintenance interventions to minimise down-time. This helps optimise long-term system performance and reliability, ensuring stable energy genera tion throughout the project’s expected operational lifespan of 20 to 25 years while maximising clean energy output. Solarvest executive director and Group CEO Datuk Davis Chong Chun Shiong said: “As Southeast Asia accelerates its transition towards clean energy, the role of technology-driven renewable infrastructure will become increasingly critical in shaping a more sustainable energy future. At Solarvest, we are committed to advancing innovative clean energy solutions that combine high-efficiency solar technologies, digital intelligence and integrated energy systems.” Moving forward, he added that they see strong oppor tunities to further integrate emerging technologies such as battery energy storage, AI enabled performance optimi sation and next-generation energy management systems to support Malaysia’s transition towards a smarter and more resilient energy ecosystem. This project further bolsters Solarvest’s expanding orderbook, reinforcing a growth trajectory that now stands at RM1.6 billion. Looking ahead, Solarvest said it will continue to advance Malaysia’s renewable energy sector,

Solarvest Holdings Bhd recently announced its involvement in the development of a 36 MWac solar project under Malaysia’s Fifth Large Scale Solar Programme (LSS5+) in partnership with Jubli Pasifik Sdn Bhd. The group signed an Engine ering, Procurement, Construction and Commissioning (EPCC) Contract with Jubli Pasifik, valued at RM89.5 million. Under the agreement, Solarvest is appointed as the turnkey EPCC partner for the 36MWac LSS5+ project located in Kangar, Perlis. The solar farm will incorporate high-efficiency Tier One N-Type photovoltaic modules paired with world-class inverter technologies, designed to maximise energy yield and operational efficiency. Leveraging advanced engine ering design and system optimisation, with detailed yield modelling and system confi guration tailored to Malaysia’s tropical climate conditions to ensure optimal performance and long-term reliability. The project will be delivered by Solarvest’s team of trained and certified installers, adhering to strict engineering standards and installation protocols to maintain high levels of construction quality and operational safety backed by disciplined project management processes to ensure system integrity across the entire installation lifecycle. Scheduled to achieve com mercial operation on Feb 26, 2028, the project is expected to generate approximately 68,550 MWh of clean energy each year and offset around 53,058 tonnes of carbon dioxide emissions annually, contributing to Malaysia’s renewable energy target and decarbonisation am bitions. Following commissioning, the operation of this LSS5+ plant will be supported by AI-powered smart monitoring system and KUALA LUMPUR: The Kuala Lumpur Convention Centre announced a historic milestone in becoming the first purpose-built venue in Malaysia to achieve ISO 20121 Event Sustainability Management certification, setting a new benchmark for environmentally and socially responsible business events in the country. ISO 20121, an internationally recognised standard developed for the global events industry, provides a structured framework for planning, managing, and delivering events with measurable sustainability outcomes. From resource use and waste management to responsible sourcing and operational governance, this certification ensures that every event held at the Centre meets the highest

transition to cleaner energy. In contrast, developed economies face rising marginal costs of decarbonisation, as further emissions reductions require advanced and capital-intensive technologies. This divergence creates an imbalance in capital flows, with investors favouring markets that offer clearer regulatory frameworks and lower risk. As a result, higher-emitting economies where emissions reductions could be most cost-effective remain underfunded. “The allocation inefficiency underscores the need for blended finance structures and credible transition instruments to de-risk these markets,” Xu said. She emphasised that strengthening the credibility and scale of green finance will require coordinated action across regulators, financial institutions and corporates. Regulators, she said, must establish clear taxonomies and enforce mandatory disclosure standards to improve transparency and reduce greenwashing. Integrating climate risk into prudential supervision and monetary policy would further reinforce market signals. Financial institutions, meanwhile, need to invest in ESG data systems, analytics and scenario modelling to enhance risk assessment. They also play a key role in developing innovative products, including transition finance and sustainability linked instruments, to channel capital into harder-to-abate sectors. Corporates anchor the ecosystem by ensuring consistent and high quality sustainability reporting. Xu stressed the importance of credible transition plans, with clear targets and capital allocation strategies aligned to decarbonisation goals. Looking ahead, Xu said Asia Pacific must prioritise interoperability between sustainable finance frameworks to remain globally competitive. Greater alignment with international standards and continued regional cooperation will be critical to facilitating cross-border capital flows.

o Region leveraging scale, policy pragmatism and economic urgency, says academic

PETALING JAYA: Asia-Pacific is increasingly positioning itself at the forefront of global green finance, leveraging scale, policy pragmatism and economic urgency to drive the next phase of sustainable investment, according to Professor Xu Peng ( pic ) of ESSEC Business School. Despite growing fragmentation in global ESG regulations, Xu said the region’s approach remains notably adaptive, allowing policymakers to balance climate ambitions with economic realities. “Asia Pacific has emerged as the global leader in transition finance, underpinned by scale, policy stability and pragmatism,” she said exclusively to SunBiz . She noted that the region accounts for more than half of global energy demand and emissions, making it a natural focal point for transition capital. Governments across key markets such as China, Singapore and Japan are embedding decarbonisation into broader strategies around energy security and industrial upgrading, providing investors with longer-term certainty. However, this momentum is tempered by regulatory fragmentation. ESG taxonomies across the region differ widely in scope and thresholds, creating inconsistencies that complicate cross border investment. For instance, some frameworks remain more permissive toward fossil fuels, while others adopt stricter exclusion criteria. Xu warned that such divergence raises risks of greenwashing and reduces comparability between financial products. “A fund labelled ‘sustainable’ in Ű BY DEEPALAKSHMI MANICKAM sunbiz@thesundaily.com

one jurisdiction may not meet the standards of another, exposing asset managers to reputational and compliance risks,” she said. The lack of harmonisation also increases transaction costs and due diligence burdens, potentially slowing capital flows. While initiatives like the Asean Taxonomy aim to bridge these gaps through a tiered framework, full alignment remains a work in progress. Beyond regulatory

issues, structural challenges continue to weigh on ESG adoption. Xu identified three key gaps: data, talent and bankability. The data gap is particularly evident in Scope 3 emissions, where supply chains dominated

by small and medium enterprises lack the capacity to track indirect emissions. This undermines the accuracy of corporate disclosures and weakens investor confidence. At the same time, a shortage of ESG talent, particularly professionals who can bridge climate science and financial expertise, limits institutions’ ability to build credible sustainability strategies. More critically, many green projects in emerging Asia remain commercially unviable. Currency volatility, fossil fuel subsidies and policy uncertainty often deter private capital, even when projects are technically sound. Although blended finance mechanisms are gaining traction, Xu said they have yet to scale sufficiently to address the funding gap. Decarbonisation pathways also vary significantly across the region, shaping how capital is allocated. Emerging markets in Southeast Asia remain heavily reliant on coal due to rising energy demand and affordability constraints, slowing the

leveraging technical expertise and operational excellence to promote sustainable growth and deliver meaningful benefits to com munities, economy and the environment. Kuala Lumpur Convention Centre achieves event sustainability management certification

the Centre’s recent PM Hibiscus Award for Sustainable Convention and Exhibition Centres, reflecting ongoing excellence in green operations and sustainable event management. For event organisers, ISO 20121 certification provides confidence that their events will be delivered with clearly defined sustainability systems and measurable results. Delegates can enjoy events knowing that their experiences contribute to responsible environmental and social practices. The ISO 20121 certificate was formally presented to the Centre’s leadership team, marking a significant step toward shaping a future where business events combine excellence with responsibility.

Banking & Finance reinforces the world-class venue’s leadership in Malaysia’s business events sector and highlights Kuala Lumpur as a destination committed to sustainable growth. It complements global standards of sustainability. “Achieving ISO 20121 certification is a defining moment for us at the Centre and Malaysia’s business events industry,“ said general manager John Burke. “It demonstrates our commitment to delivering world-class events that are not only memorable but also responsible, sustainable, and aligned with global best practices. We are proud to lead by example and inspire the industry to adopt sustainability at every level of event management.” This achievement further

BSI Malaysia managing director Evelyn Chye presents the ISO 20121 Event Sustainability Management System to Burke and team.

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