A subsidiary of ENGIE offering energy services and solutions has entered into the Asia-Pacific market as part of efforts to accelerate the deployment of sustainable energy solutions worldwide.
ENGIE Impact is targeting businesses, cities and governments to help them develop sustainability strategies and implement solutions to drive economic and environmental benefits.
The goal is to generate revenue within the region and help the industry to address climate change.
ENGIE Impact, supports over 25% of the Fortune 500 with 20 offices worldwide and more than 2000 employees. Asia is growing at a more rapid rate than other regions, and the time is now to course-correct the regional trajectory and lock a more sustainable pathway, according to a statement.
According to ENGIE Impact’s analysis of the CDP data, there is a three-fold increase in the average size of annual carbon reduction targets companies are setting, and the time horizon to achieve those targets is shrinking. From 2005 to 2017, the average time to meet goals dropped from 26 years to just eight years.
But achieving results is difficult in Asia due to organisations facing the challenge of developing scalable sustainability roadmaps, effective green energy strategies, and now, determining coronavirus recovery efforts.
ENGIE Impact analysis also shows that 74% of companies in the Asia-Pacific area have sustainability commitments, yet only 36% of these companies are on track to meet their goals
Malavika Jain Bambawale, managing director of ENGIE Impact, said: “Many Asian countries are highly focused on reaching the peak of their economic progress and sustainability does not always naturally rise to the top of the agenda for all stakeholders. But sustainability and decarbonization is no longer a trade-off decision, it is imperative that, if well planned, can help us save costs and unlock new pools of value in the future.”
Mathias Lelievre, CEO, ENGIE Impact, adds: “ENGIE Impact serves clients with locations around the world, so having deep, in-region expertise of the Asia-Pacific is critical to our ability to enable sustainability transformation to leading organisations.
“We see tremendous innovation coming from Asian cities and businesses and are excited to support embedding sustainability and resiliency into their core strategy. I’m confident in our local teams expertise and dedication to this mission, led by Malavika, to deliver on the sustainability ambitions for our clients.”