University Science Malaysia (USM) partners with STRAVIK’s ‘Connect2Save’ for pilot initiative on ESG measurements
- Integrated e-dashboard to share real-time measurements for optimizing energy utilization and cost reduction in various buildings on campus.
- Includes joint participation in research and development to create affordable AI-leveraged solutions for SMEs in tracking, measuring and reporting on ESG indicators material to their business.
PENANG, 3 November 2023 – University Science Malaysia (USM) today inked a Memorandum of Agreement (MoA) with STRAVIK Sdn. Bhd., to apply ‘Connect2Save‘, an integrated energy utilization dashboard to measure, optimize and report on energy utilization and cost reduction across various buildings on their Penang campus.
This strategic public-private partnership also includes joint participation in research and development to create sustainable and affordable hardware and software solutions for critical sectors such as water management, waste management, and the development of energy storage technology. Artificial intelligence (AI) deployment, particularly in analytics for energy storage projects, will be given significant focus.
“With this collaboration between USM and STRAVIK, we are looking to dive deep to address Environmental, Social, and Governance (ESG) data requirements and disclosure gaps for companies in Malaysia, particularly for Small and Medium Enterprises(SMEs) as they make up 97.4% of business entities in the country,” said Prof. Dato’ IR. Dr. Abdul Rahman Mohamed FASc, Vice-Chancellor, USM.
“It is imperative that companies get onboard this ESG bandwagon as soon as they can, to better manage the impact on their business directly or indirectly. In fact, we are already seeing multinationals operating in Penang in particular, scrutinising their supply chains across all locations, sectors and industries,” added Assoc. Prof. Dr. Mohd Wira Mohd. Shafiei, Director Centre for Global Sustainability Study, USM.
“While we look to drive innovation and develop sustainable solutions, we are conscious of the need to measure indicators relevant to respective businesses, practical to roll-out and cost effective. Therefore, ‘Connect2Save‘ is built on Cloud infrastructure, to enable users to monitor and disclose ESG data in a digitized, secure and centralized way for easier analysis and improving their sustainability practices,” explained Dr. Vimaleswari K. Ramasamy, CEO and founder of STRAVIK Sdn. Bhd.
Given that the adoption of ESG practices will impact operations, workforce and customers, findings from this pilot programme between USM and STRAVIK will be documented and shared, promoting sustainable best practices that are not just environmentally responsible but also socially and economically beneficial for both businesses as well as the community at large.