Alliance Bank and SEDANIA Launch Fully-Funded Energy Saving Programme for SMEs

Strategic Insights -

The Alliance Bank and SEDANIA Innovator Berhad have announced a collaboration to launch a fully-funded programme aimed at helping small and medium enterprises (SMEs) become energy sustainable organizations. Through this initiative, SEDANIA will bear the cost of initial outlays and provide advice to eligible SME customers on office or building upgrades, including energy-efficient smart air-conditioning, smart controllers, and lighting solutions. The programme is expected to reduce energy consumption by 25% to 40% among eligible businesses.

Key Takeaways:

  • SEDANIA will provide free maintenance and repair services, as well as complimentary energy monitoring systems, to enable SME clients to monitor their energy consumption and provide the necessary data for sustainability reporting.
  • Alliance Bank and Alliance Islamic Bank SME customers will receive a certified report card on their energy efficiency level without any payment.
  • The programme has the potential to reduce energy consumption by 20% and help circumvent 25 million tons of carbon emissions in Malaysia per year.
  • Only a portion of the cost savings enjoyed will be paid to SEDANIA over a 5-year period.
  • Alliance Bank will provide a "3A" approach (Advocacy, Advice, and Answers) to offer support to SMEs through financial and non-financial ESG solutions.
  • SEDANIA's CEO, Daniel Rupert, emphasized that SMEs are reluctant to adopt ESG practices due to cost, and this programme makes it easy for companies to say "yes" by providing cost reductions and new office equipment.

Statistics:

  • SMEs in Malaysia contribute around 70% of all carbon emissions.
  • The programme aims to reduce energy consumption by 25% to 40% among eligible businesses.
  • The initiative is expected to help circumvent 25 million tons of carbon emissions in Malaysia per year.
  • Only a portion of the cost savings enjoyed will be paid to SEDANIA over a 5-year period.

Sources:

  • "Alliance Bank Launches First-of-Its-Kind Energy Savings Programme for SMEs" by Contify.
  • [Original Press Release] Alliance Bank Malaysia Berhad ("Alliance Bank" or the "Bank") announced today that it has signed a Memorandum of Understanding (MOU) with SEDANIA Innovator Berhad's ("SEDANIA") Sustainable Energy arm SEDANIA Technologies Sdn Bhd to launch a fully-funded programme to help small and medium enterprises (SMEs) become energy sustainable organisations.
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  • [category: Banks, Diversified Bank, ESG, Partnerships and Alliances]