Sembcorp launches new carbon management solutions corporate venture, Gonetzero™

Source: press release, 15 November 2022

Platform Founder & Chief Digital Officer of Sembcorp Industries, Charles Koh
Platform Founder & Chief Digital Officer of Sembcorp Industries, Charles Koh (photo: GoNetZero)

Sembcorp Industries will be launching its carbon management solutions corporate venture, GoNetZero™, at the Singapore Pavilion at the 27th United Nations Climate Change Conference (COP27) in Egypt.

The establishment of GoNetZero™ complements Sembcorp’s offering as a leading pan-Asian renewable energy player. By offering one-stop access to renewable energy certificates and carbon credits as well as renewable energy and environmental attribute portfolio management, GoNetZero™ works with its customers to support their corporate climate action plans.

Ng Lay San, Co-founder and Head of GoNetZero™, says, “Corporates hold the key towards global net-zero emissions. GoNetZero™ provides corporates with the full suite of solutions from renewable energy certificates to carbon credits, to achieve their decarbonisation goals.”

A collaborative platform with capabilities for real-time verified renewable energy
Backed by Sembcorp’s deep engineering and digital expertise, GoNetZero™ is underpinned by a collaborative digital platform using blockchain technology.

Charles Koh, Platform Founder of GoNetZero™ and Chief Digital Officer of Sembcorp says, “We have built the GoNetZero™ digital platform using blockchain technology. The platform provides analytics, reporting and tracking tools, with the capability to verify renewable energy from source in real time. Corporate customers can execute their climate action plans with confidence and transparency.”

Partnering leading corporates on decarbonisation initiatives
Several initiatives in collaboration with leading industry players will be announced together with the launch of GoNetZero™.

OCBC Bank is partnering GoNetZero™ on a renewable energy certificate aggregation programme with financing support. The programme aims to encourage corporates to deploy and adopt renewable energy through various initiatives. The first phase of the programme will target companies in Singapore, with plans to expand to Southeast Asia later.

Razer, the leading global lifestyle brand for gamers, launched its sustainability service Restorify last week. Fronted by Razer Fintech, the company’s financial technology arm, Restorify offers traceable and fractionalised carbon neutral checkout to both consumers and businesses. This is made possible through its partnership with GoNetZero™ and ESGpedia.

Together with GoNetZero™, UBS in Singapore is piloting Asia’s first hourly matching of power consumption with renewable energy that it procures in Singapore following EnergyTag’s certification standards. Using GoNetZero™’s blockchain-based digital platform, the pilot at UBS’s Singapore office will showcase the possibility of time-based granular verification and tracking, to identify opportunities for further carbon footprint reduction.

Supported by EDB’s Corporate Venture Launchpad
GoNetZero™ was supported by the Singapore Economic Development Board’s (EDB) Corporate Venture Launchpad, a corporate venturing programme to help companies launch new ventures from Singapore with the potential to become globally leading businesses.

This announcement has no impact on the earnings per share and net asset value per share of Sembcorp Industries for the financial year ending December 31, 2022.