SINGAPORE – Industry players are tackling Singapore’s ambition to reduce carbon emissions in a range of ways, from calling on innovators to conjure up sustainability solutions to setting up incubation labs to help develop start-ups with an eco-friendly bent.
ENGIE Factory, the venture arm of ENGIE Asia-Pacific, and SC Ventures, the innovation and ventures unit of Standard Chartered, announced a Memorandum of Understanding (“MOU”) to jointly identify, validate, build and invest in new sustainability startups to catalyze the climate-tech ecosystem.
The MOU aims to combine Standard Chartered’s strengths in financial services and ENGIE’s expertise in low carbon energy solutions to create high growth ventures with innovative business models and financing solutions that help businesses in Asia and beyond achieve their net-zero targets.
“Our mission at ENGIE Factory is to accelerate the transition to zero carbon and we believe that entrepreneurship plays a key role in achieving this. We focus on building ventures with scalable business models that solve problems customers care about. We are excited to partner with SC Ventures who is equally committed to sustainability and leveraging the venture model to achieve this.” said Quentin Vaquette, Founder & Managing Director of ENGIE Factory.
“We’re excited to announce our collaboration with Engie Factory to jointly develop a sustainability proposition to accelerate Asia’s transition to zero carbon. The strategic partnership aims to combine SC Ventures strength in financial services and ENGIE’s expertise in low carbon energy solutions. Our first initiative will tackle a sustainability capability to enable MNCs to decarbonize their supply chains. This will be critical for the supply chain financing ventures which SC Ventures is incubating at the moment. Watch this space.” said Alex Manson, SC Ventures.
The collaboration between Standard Chartered and ENGIE Factory will open new business models that combine components of financial services and ready-to-deploy decarbonization solutions, leveraging the capabilities and resources of both organizations to accelerate development. In doing so, both companies aim to incentivize businesses and individuals to adopt solutions that reduce their carbon footprint.
About Standard Chartered
We are a leading international banking group, with a presence in 59 of the world’s most dynamic markets and serving clients in a further 85. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.
Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.
About SC Ventures
SC Ventures, the platform and catalyst for the Standard Chartered to promote innovation, invest in disruptive financial technology and explore alternative business models. Focused on “rewiring the DNA in banking”, SC Ventures aims to develop an innovation culture and mindset, deepen capabilities and experiment with new business models through an open platform and network of people and partnerships. It runs an eXellerator innovation lab network across Singapore, Shanghai, Hong Kong, London, Nairobi and San Francisco.
About ENGIE Factory Asia-Pacific
ENGIE Group is a global energy and services group that focuses on three core activities: low-carbon power generation (mainly based on natural gas and renewable energy), global networks of energy infrastructure and customer solutions (focused on smart cities). ENGIE Factory Asia-Pacific, the innovation arm of the ENGIE Group in Asia, has a mission is to accelerate the transition to a zero-carbon society by partnering with startups and aspiring founders who share the same drive to deliver real impact. We build, scale and invest in startups and individual founders who believe they can solve these global challenges.
Our group is a global reference in low-carbon energy and services. Together with our 170,000 employees, our customers, partners and stakeholders, we are committed to accelerate the transition towards a carbon-neutral world, through reduced energy consumption and more environmentally-friendly solutions. Inspired by our purpose (“raison d’être”), we reconcile economic performance with a positive impact on people and the planet, building on our key businesses (gas, renewable energy, services) to offer competitive solutions to our customers.
Turnover in 2020: 55.8 billion Euros. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe) and non-financial indices (DJSI World, DJSI Europe, Euronext Vigeo Eiris – Eurozone 120/ Europe 120/ France 20, MSCI EMU ESG, MSCI Europe ESG, Euro Stoxx 50 ESG, Stoxx Europe 600 ESG, and Stoxx Global 1800 ESG).