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#AEBF25 | Day 3 - Accelerating Transition Towards Low-Carbon Buildings in ASEAN

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The 25th ASEAN Energy Business Forum launched the ASEAN Build platform, a regional initiative designed to accelerate the transition to low-carbon buildings by connecting stakeholders and unlocking investment opportunities.

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25 Asan energy business forum 2025 with

the team accelerating transition towards

lowcarbon buildings in Asan.

I'm Chah Adis Sabro. I will be your MC

today. So before we before we begin, I

would like to greet Dr. Pongpan forayan

director of energy regulation and

conservation division department of

alter alternative energy development and

efficiency ministry of energy Thailand

on behalf of director general deed

Thailand ssn

coordinator and also I would like to

greet Dr. Yan Fandelus, Deputy Director,

General Ministry of Land Management,

Urban Planning and Construction, King of

Kingdom of Cambodia.

Thank you for joining us for or this

this session today. So today's session

marks the official launch of the ASEAN

build platform, a milestone under the

Asia low carbon building transition.

This initiative serves as a regional

one-stop platform to connect building

owners, financiers, and technology

providers, unlocking investment

opportunities that will help transform

Asian building into a more energy

So this initiative serves as a regional

uh excuse me this session is proudly

organized under the LCBT program jointly

implemented by the Asian center for

energy heat and ASL led by global growth

global green growth institute with

support from Germany federal ministry

for economic affairs and climate action

under the international climate initiative

initiative

to officially start Today's session we

are honored to have distinguished

speaker who will deliver their opening

remarks. First of all please join me in

welcoming Dr. Pong Pan Forasayan

director of energy regulation and

conservation department DED ministry of

energy Thailand on behalf of director

Dr. Sufika Yunidi um manager of energy

modeling and policy planning

on behalf of SED uh excellencies,

speakers, distinct guests and ladies and

gentlemen. Good morning. Um it's my

great pleasure to deliver this remark uh

opening remark on behalf of Miss Nantika

Tangup Panit, director general of

department of alternative energy

development and efficiency, ministry of

energy Thailand as well as the uh

coordinator of the energy efficiency and

conservation subset network or ENCSN.

First of all, I would like to express my

sincere appreciation to the Asen Center

for Energy, the German Federal Ministry

for Economic Affair and climate actions

and the global green growth institutes

for jointly organizing these important

sessions on accelerating transition

toward uh lowcarbon building in Asen.

As we are all aware, the building sector

represent one of the most significant uh

energy consuming sector in Asan

accounting for more than 20% of both

energy use and greenhouse gas emissions.

With rapid urbanization, population

growth and increasing demand on for

coolings, uh the sector energy demand is

expecting to rise considerably in the

coming decade.

Therefore, transforming our building

into lowc carbon energy efficient

structures is not only a necessity

but also a strategic opportunity to

achieve our region's senate zero

emissions. In this in this regard, uh

asan member state have made a strong

commitment to improve buildings energy

performance through policies, energy

code, green building standard and public

private partnerships.

However, uh challenges remain

particularly in mobilizing financings,

enhancing technical capacity and

strengthening recreation enforcement.

Decision provide a timely and valuable

platform to explore innovative financing

mechanisms, bankability and the risking

approaches and the role of energy

service company in scaling up energy

efficiency investment.

Initi in initiative such as the Asia ro

carbon building transitions and the asen

build platform are key milestones that

will help unlock financing opportunities

and accelerating accelerating to the low

carbon transition in the building sector

across our regions.

On behalf of DED and ENCSN, I would like

to reaffirm our strong commitment to

working closely with our partners both

within ASEAN and internationally

to foster knowledge exchange, policy harmonizations

harmonizations

and practical cooperations toward um

sustainable and low carbon buildings. I

wish all participant a fruitful and

productive discussion today and I look

forward to seeing seeing the innovative

ideas and collaborative actions that

will emerge from this session. Thank you

Thank you Dr. Parat Pongan. So next I

would like to call Dr. Dr. Julikar

Yunidi, manager of energy modeling and

policy planning department on behalf of

executive director of Asan Center for Energy.

Energy.

Um, good morning ladies and gentlemen.

Uh my name is Tulfikar and I'm reading

the opening remarks on behalf of the

data daw the executive director of the

Assean center for uh energy.

A very good morning to Dr. Pongan

Farasayan the director of energy

regulation and conservation department

of alternative energy development and efficiency

efficiency

ministry of energy Thailand on behalf of

the director general of the Thailand

ascss and coordinator Dr. Fandelus Yan,

Deputy Director, General of

Construction, the Ministry of Land

Management, urban planning and

construction of Cambodia. Estim

speakers, delegates, and partners.

On behalf of the ASEAN Center for

Energy, it is my great pleasure to

welcome you all to this parallel session

on accelerating the transition towards

lowcarbon buildings in ASEAN held at the

25th ASEAN Energy Business Forum.

The building sector is central to

ASEAN's energy and climate future. In

2022, it accounted for 22% of the

region's total final energy consumption

and contributed to 21% of greenhouse gas emissions.

emissions.

Driven by rapid urbanization and

economic growth, this demand is

projected to surge by more than 50%.

by 2050, underscoring urgency for actions.

actions.

Yet, the transition to lowcarbon

buildings face a significant investment

gap estimated at 15 to 20 billion US

annually to align with regional climate goals.

goals.

As part of Malaysia's 2025 chairmanship priority,

priority,

I am delighted to officially launch the

ASEAN build platform, a key initiative

to address these challenges. This

platform bridges the gap between project

developers and investors, facilitating

the flow of capital toward energy

efficient and lowcarbon building solutions.

solutions.

It represents a tangible step forward in

achieving the API 2026 2030 of reducing

regional energy intensity by 40% while

advancing our shared vision of a

sustainable and resilient ASEAN.

The development of this platform is a

flagship output of the AIA lowcarbon

buildings transition project aimed to

provide a practical tool to support the

transformations of our region's building sector.

sector.

I wish to extend our sincere

appreciation to the government of

Germany through the international

climate initiative eki of the German

federal ministry for economic affairs

and climate action BMWK

for their invaluable funding support.

Our gratitude also extends to our

consortium partners, the Global Green

Growth Institute, DGI, Hit

International, and Energy Efficiency

Services Limited, ESL, whose technical

expertise and collaboration have been

instrumental in transforming the concept

of ASEAN build into a functional platform.

platform.

Finally, I would like to acknowledge the

stakeholders and partners present today.

Your continued engagement will ensure

the platform's successful implementation

and adoption across the region.

The Asan Center for Energy reaffirms its

commitment to ensuring that ASEAN build

becomes an integral and sustainable part

of the regional energy efficiency ecosystem.

ecosystem.

Today's panel discussion will further

explore financing mechanisms and the

risking strategies that ASEAN built is

designed to support. We look forward to

hearing actionable insights that can

guide the scaling up investment in

lowcarbon buildings throughout the

region. Together, let us continue to

advance our collective journey towards a

lowcarbon energy efficient ASEAN. I wish

you all a productive and engaging

Thank you, Dr. Zulfikar.

So, ladies and gentlemen, the next

session is the official launch of the

Asan Build platform, a regional one-stop

shop designed to catalyze investment in

energy efficient and lowcarbon building

project across Asan. Asan build features

an energy efficiency project database,

investment matchmaking tools and energy

and carbon calculator and also and

knowledge sharing modules all developed

to connect ideas, project and capital

across the region. To introduce this

exciting initiative, let us first watch

As part of Malaysia's ASEAN chairmanship

2025 priorities, the ASEAN Center for

Energy proudly launches ASEAN built

building investment for lowcarbon

transition in ASEAN,

the regional one-stop platform. form

that connects stakeholders across the

building sector to accelerate investment

in lowcarbon building projects

throughout Southeast Asia. It brings

together four core features. A database

of lowcarbon building projects, an

energy efficiency and emissions

calculator, an investment matchmaking

tool linking projects with financeers,

and a knowledge hub for sharing

insights, tools, and best practices.

ASEAN build connects developers,

financiers, energy service companies,

and policy makers across Southeast Asia.

Together, they formed the ecosystem

driving the region's transition toward a

lowcarbon future.

In 2022, the building sector accounted

for 22% of ASEAN's total energy use and

21% of its emissions. Achieving the

region's decarbonization goals will

require over 20 billion US in annual

investment through 2035. By integrating

data, technology, and finance, ASEAN

build transforms this challenge into

opportunity, unlocking collaboration,

innovation, sustainable investment

across the region. Join us in

accelerating the lowcarbon building

For the next session, I would like to

call all the panelists. We are going to

have a group photo

to further explore the context and

potential of the Asan build platform and

to set the stage for our discussion. I

would like to call Mr. Risky Aditia,

program manager of the Assia lowcarbon

building transition from Assean Center

>> Yes. Uh good morning um everyone. Um

thank you so much for joining to our

session. So Dr. Pong Pan uh from the DED

Thailand and also uh Dr. Van Luxan from

the uh ministry of uh land management,

urban planning and constructions of

Cambodia. Uh distinguished delegates uh

ladies and gentlemen's Yeah, thank you

so much. And earlier we have seen the um

launching video of the ascend build

platform which I believe that um it

captures the vision of the uh asen build

which envisioning uh to be a platform

that enabling the accelerations of lowc

carbon building transformations across

the asen region. And so I guess um the

discussions later on will further debunk

what is what will be the next questions

from this which be how do we turn these

visions into an into an actual um

investment flow to the lower carbon

building projects. So can you move to

the next slide please? Yes. Okay. Yes.

So we have seen this uh numbers and also

have been mentioned uh multiple times

today. So this is just to uh provide uh

how big the opportunities that we have

um in terms of accelerating towards the

lowcarbon buildings where currently uh

buildings already account for the uh 22%

um emissions uh from the building

operations and then driven by the

urbanizations the economic growth the uh

energy demand from the building sector

will be expected to grow more than 50%

by 2050 and this is represent the

opportunities and also risks as well

where there are the opportunity of 15

billion uh US dollar annual investment

potential for energy efficiency and

lowcarbon buildings and yet despite the

the economics um of this uh

opportunities uh many energy efficiency

projects often uh may not be able to uh

catch the financings to u to finance the

So uh there are three uh common bears

that uh we observe uh happening across

the regions. So where the first one is

that we noted that the across the asen

region the many actors have uh already

taken actions for instance the building

owners developers they already having

commitment uh for say achieving um

climate goals uh within their uh

portfolio and they might do already able

to conduct various energy outdates

energy efficiency measures in their uh

facilities and then energy service

companies uh technology providers

they're already providing various uh

retrofitting projects or performance

contracting services. Meanwhile also

financial institutions now um already

offering various um sustainable

sustainable finance products as well.

But then then uh these efforts uh mainly

come into silos where uh where the

project data service offerings and

financial tools uh may require to be

further connected between these

stakeholders. And second is the level of

data that gathered uh required and also

needed uh might also differs among

stakeholders. We know that many energy

audits mainly cover until like level one

or level two of the energy audit while

maybe for the financial solutions they

might require like investment grade

audit for them to be able evaluating the

risk and also return for the project.

Measurements and verifications are also

uh varies uh on the methods itself which

affects the trust also among the key

stakeholders. Um where the questions may

uh remains or arises or for instance

like where the savings will be truly

achieved uh where the results it's

coming actually from the retrofit

program or even uh can even the the

audit can be trusted as well. So uh

without the consistent and verified data

it become difficult for the say

financiers to uh trust the the numbers

and also be able to assess uh for the uh

financing uh products. And the third one

is that again the financing remains the

bottlenecks where the um energy

efficiency projects often face like a

long-term payback period u more than 10

years and then high perceive risk as

well. So um many local banks also may

have limited experience in assessing uh

energy efficiency projects. So what we

might need to look into is more on the u

reliable data and proven models um so

the cost of due diligence can be further

reduced and also outweight the potential returns.

returns.

So uh as we hear today so uh we have

launched the asenbit platform. This is

aiming to be a regional one-stop shop

platform to accelate and also unlocking

uh financing for the energy efficiency

projects in the building sector. And

this serve as a connector between all

the uh key stakeholders

in the building sector uh building

owner, the technology provider,

financial institutions, even government

um government uh agencies as well where

there are four key features that uh

within these within this platform. First

one is the project database and

registry. So this will gives visibility

and also uh uh opportunities for the

building owners to show their energy

efficiency projects helping also

financial also technology providers to

look into uh like investment ready

opportunities. Second is the lowcarbon

calculator and also assessment tools

allowing the user to quantify energy

carbon and also cost savings of the of

the project. The third one is the

investment matchmaking hub uh which

connects building owners, financials and

escos to uh find the opportunities and

helping matchmaking and having a good

projects to to be funded and also to be

to be developed. And lastly is the

knowledge and learning hub to share case

studies uh successful models that would

be able to be replicated across the region.

So the ascend built will also serve as

the like a marketplace for

collaborations uh where the government's

financials uh technology program might

be able to identify and also aggregate

bankable project pipelines across the

region and also helping the projects to

align with the uh financing criteria

that are required by the banks or

investors across the region make it it

to to be more easier um to be recognized

and fund more credible lowcarbon

building projects. So, uh the underlying

points that we want to emphasize is that

the real transformations in this sector

would requires uh partnerships among all

the uh key stakeholders and I believe

that this asend build would be uh serve

as the tool for us to further um

collaborate uh towards low carbon

transforming the lowcarbon building.

So yeah, while I may not be able to

demonstrate uh in detail over here, uh

but I guess I would like to invite all

of you to visit our booth, the Asia

carbon buildings transitions booth um in

the boo the exhibition areas um up uh

upstairs and over there our team will be

able to also demonstrate the uh how we

would be able to use the platform

including for instance how we be able to

upload the project data uh estimate the

savings using the calculators

um also to explore how financial and

esco can identify opportunities

together. So yes, that's my last

presentation slides. So I believe that

uh we hope that we would be have uh

we'll be having an engaging uh

discussions after this with all the uh

experts from uh from across the region

So thank you Mr. Risky for sharing your

uh insight challenge and opportunity

from the

built environment and also sharing the

details regarding the Assean build how

it's it can answer and provide solution

of the challenge arise. So for the next session

session

I would like to call Mr. Adam Adinata

as the moderator for our panel session.

>> Thank you very much MC and everyone. So yeah

yeah

um I'm honored today to lead the

discussions about the um unlocking

financing energy efficiency low carbon

building projects. together I will

invite then our panelists of the expert

from the building sectors. Um the first

of all I would like to invite Dr. Yan

Vandel the deputy director general

constructions ministry of land

management urban planning and

And second of all, uh, Miss Julie Robos,

our project manager for Asian lowcarbon

building transitions from global green

growth institute.

Uh, next I would like to invite uh,

Abishek Dubet, the director of infrastructures

infrastructures

Next will be David Mcrones the director

and from financial institutions uh let

let us welcome Asmir Abdullah the regal

head of sustainable finance commercial

How are you all?

All right. So, yeah, thanks uh everyone

to agree to be on the panel today um to

launch our platform and also of course

to discuss what are the enablers and uh

opportunities for us to accelerate the

energy efficiency implementations from

the different aspects.

Um okay, maybe we can start now. Um let

me just go straight to the first

questions from the government sides to

Dr. Yan. So energy efficiency building

sectors will covers right for

commercials and also public buildings

and public buildings has its own

complexity when we are talking about the

implementations of energy efficiency.

So from the perspective of uh Cambodian

government what are the your thought on

the current challenge and opportunities

of public buildings to play important

role in accelerating the energy

>> Okay.

Good morning uh Mr. moderator. Good

morning all. Uh first of all I would

like to thank the Asian center

uh for local bond building transition

project uh for inviting me uh to join

this uh uh I think important and

fruitful uh event. Uh

before I go to directly to your

question, I would like to make a brief

introduction about uh the

role of the ministry of uh land

management, urban planning and and

construction of Cambodia.

uh as a a representative from that

ministry I think that I express my point

of views from that ministry uh rather

than from the government as a whole.

So uh Cambodia is working uh toward our

autonomy on energy and uh in this regard

uh royal government of Cambodia created

an big interministerial body uh on

energy efficiency

uh policy

and Amalam UPC ministry of construction

uh is a member of that big uh

intermediary committee.

and uh that is led by the ministry of

mine and energy of uh Cambodia.

So uh we drafted and finalized our very

important policy document on the we call

it national energy efficiency policy

uh that cover many areas uh in which uh

construction is a sector that is uh

considered uh seriously

uh in regard to this uh

document policy document um the

the Cambodia uh invisit to reduce 19% uh

of the energy use uh in building uh by 2030s

and uh we also target for 34%

uh reduction for residential sector and

25% for commercial buildings.

So this is an a mission uh for us to

contribute to the uh reduction or the

reduction or the um the climate change

uh accord uh in Paris as a whole.

And to achieve this uh

uh ambitious target we need a massive

investment in uh energy efficiency in building.

building.

Uh so far we we are working with uh

other related uh ministry like the

ministry of mind and energy

and other

uh development partners. So uh we are

working with uh GGGIS

uh we are working with uh UNDP we are

working with Junip that uh we had a we

have we had and have uh good cooperation

so far in uh uh drafting in establishing

So uh I go directly to your question.

How to attract more investment in the

building sector? Uh I think that the

first thing that we have to do is to uh

develop or to finalize key policy

documents. Uh in this regard we we are

initiated uh uh to draft a building

energy efficiency design guidelines that

are very important to uh evaluate or

certific certification

uh for green building.

Uh we

we also uh need uh clear policy

framework uh that is a clear policy

frameworks uh for the private sector to follow.

follow.

Uh second is uh to work with the

national bank of Cambodia uh that uh

initiated uh document uh regarding the

green finance. So we are working with

them because they take care of the

finance and we take care of the

technical issues.

And lastly we uh need to develop uh our

national program to attract uh global

green climate fund to Cambodia. So those

uh policy those standard that uh we

initiated and finalized will be a key uh

document to a clear guideline for uh our

partners uh private or public sectors to

invest in this uh in this green finance.

Thank you.

>> Thank you. Thank you very much uh for

the insight the first insight to bridge

our next discussion just to I I noted

several um effort that has been done and

highlighting about the 25% target of

reductions and also the collaboration

with the national banks right so and

also with the international

organizations so it brings us to the

next panelist question so Julie

uh based on this uh remark from Dr. Yan

tell us how

projects here can address of this

opportunities and support the energy

transitions here in asay as a whole. Yeah.

Yeah.

>> Thank you.

>> So thank you um Dr. Ian also um um so

the ALCBT project is a regional project

um it covers five countries uh four in

ASAN Cambodia, Indonesia, Thailand and

Vietnam and India. So it addresses um

regulatory capacity and financing gaps

that hinder the large scale adoption of

lowcarbon building. So in the project we

work with our focal ministry um to to

ensure that it complements government

efforts. So I think that's key in our

implementation. Uh the project focuses

uh on four strategies. uh enhancing

institutional capacity of governments,

improving technical capacity of industry

professionals through uh training and

tools and leveraging financing uh

through um invest in innovative business

models and of course um promoting

project results and knowledge sharing uh

to promote replication and scaling up.

So ALCBT promotes life cycle assessment.

In most cases, we only focus on building

operation. But through this project, we

look into the whole carbon footprint of

a building from design to end of life.

And to date, uh the project has assessed

over 400 buildings uh through walk-in

energy audits and around 250 of this

include embodied carbon calculations. So

this building assessment will help us

identify buildings that have potential

for significant energy savings that will

help us to develop a bankable pipeline

of projects for investment.

Um so this building assessment is also

linked to the tool that was developed by

the ALCBT project um the building

emission assessment tool. So this

calculates um both operational and

embodied carbon um and will aid

including the government in managing

emissions from buildings throughout the

life of the building. So in this project

uh we will customize the tool for each

of our project countries to really um um

reflect the situation on the ground the

emissions of the buildings. Uh so

through this building assessment we will

generate B benchmark values for

different typologies of buildings in

each of our project countries. Um and

this um emissions and um benchmarking

and thresholds will also be an input to

the building taxonomy um that we will be

uh developing through this project uh

with recommendation to the uh financial

um taxonomy um of our project countries

developing or already developed uh to

enhance um economic activities in the

building sector of course and we are

also um now conducting lowcarbon

building trainings. So this uh benefit

key stakeholders in the building sector.

So to date we have um benefited 1,500

people from the government um yes um

financial institution, banks, escos

um architects, designers, engineers and

energy auditors. So this training covers

building energy efficiency um building

codes and its implementation, ESCO

models, carbon assessment tools,

sustainable cooling as well as the

design of lowcarbon buildings and to

also um address the rapidly growing

demand for energy um from the cooling

systems and drive the demand for energy

efficient technologies. Um that is

through government-led um market

transformation initiative. ALCBT is also

developing a national and regional green

procurement um guidelines for energy

efficient air conditioners. So all these

efforts in the second half of the

project implementation our focus will be

investment mobilization.

So towards this as risk represented

through this project we have developed

the asen built but at national level

we're also establishing the green

finance network. It's a platform a

structured uh engagement with local

financial institutions. So we work with

them in business model development as

well as early stage uh project

identification. Um so through this

pragmatic approach of the project ALCBT

of course aim to increase the demand for

lowcarbon building not just in our

project countries um but sharing uh this

experiences and best practices

throughout the region. Thank you.

>> Thank you very much. Thank you very

much. is very lot that the algeb project

is covering and two of the highlights

are the technology support and also

financing. So to continue allow me

please to ask this questions to uh David

from the technology providers. Um can

you enlighten us here please David David

on whether such technology energy

efficient technology to support the

energy transition in building is already

available and if so what is holding back

its uh replication and wide adoptions

here in ASEAN.

>> Yep sure thank you. Um I think to answer

that question you we all need to agree

on on kind of three things. Um the first

is that lowcarbon or even no carbon

buildings are possible in every market

in in Cambodia, in Thailand, in Vietnam,

Singapore, Malaysia, you can have zero

carbon or lowcarbon buildings. That's

the first thing. The second thing is we

all want them. The building owners want

them. The tenants want them. The

economies want them. The governments

want them. So they are possible. We all

want them. And the third thing is no one

has them.

less than 1% of buildings are carbon

neutral or low carbon. So why is that?

What's the disconnect? It's possible. We

all want them. No one has them. Um and

so to answer that question, we did a

survey as well and it's actually very

similar to the one that Risky showed

you. Um but we added one option. So we

basically we went to building owners,

real estate developers, real estate

services companies, and we said, "What's

the barrier? If it's all possible, why

why don't you have them?" And the two

options were technology is not available

or expertise is not available or cost

ROI is not beneficial. A 10-year ROI I

think you should. Um and I think in this

room I mean put your hand up. Which one

would you choose? Technology is not

available or the ROI the capex is too

much. Who who choose technology is not available?

available?

You have to put your hands up otherwise

we're not going to keep we keep going.

No one on technology. What about the the

ROI? the the the cost is too high. Okay,

so most people say cost. We gave a third

option which you can't really give when

you do a live audience because it's

quite an embarrassing option. And the

third option was it's just too complicated.

complicated.

Which is a nice way of saying I just

can't be bothered. I have a day job to

do. I have other things to do. So I

can't be bothered to learn about all

that complex, very complicated stuff

that we're all talking about today. All

of that stuff that we have to do, it's

just too complicated. So if you look at

that survey, 16% of people said

technology was a problem. 32% of people

said that cost or ROI was a problem. And

52% said it's just too complicated. And

what do you do when something's just too

complicated? You put it off till

tomorrow. I'll do that tomorrow. I'll do

my day job today and then tomorrow I

will get to learning about all of that

stuff. But you put it off tomorrow all

the time. And it's been five years and

we still haven't got to it yet. That is

the number one problem. That's the

problem we need to solve for. So when

you look at technology, yes, technology

is important. We have technology today

and we have incremental growth in the

efficiency improvements of technology.

But what we don't have is the mass

adoption of that technology. So how do

you overcome those two barriers? So

about 85 90% of the problem is it's too

complicated and it's too expensive. The

capex is too high. What is a business

model that allows you to overcome those

two challenges?

And if you look at every other industry,

forget the built environment, talk about

any industry you want, take out your

handphone and look at the apps on your

handphone. What do all of them have in

common? Every single app pretty much on

your handphone is an as a service

business. You subscribe for content or

you pay as you use for an outcome. You

don't invest in the technology etc. to

deliver that outcome. And that's where

we think the as a service business model

where customers can or building owners

can subscribe for an outcome and pay as

you use for an outcome is the answer

that overcomes that challenge. Um, and

we can talk about a little bit later how

how that that works. But for us, that's

what's missing. We need to stop talking

about technology and implementation of

technology. We need to start talking

about mass adoption and scaling of

adoption of that technology. And we

think as a service is the way to do that.

that.

>> Thank you. Thank you very much, David.

It's very enlightening. So there's

always everyone like the third hidden

options right hidden challenge hidden

barriers but I would like to see as the

opportunity instead of challenge right

and we have uh Mr. Azmir here from CIMB

to share the your views on how the CIMB

sees this opportunity that was shared by

the previous uh panelists regarding the

energy efficiency project financing and

how does financing energy efficiency and

lowcarbon building project fits into the

institution's broader investment

strategy in ASEAN please.

>> Thank you Adam for the question. Um

given the diverse audience that we have

I think probably I'll start off with a

some CMBB background. Uh so we're the

second or third largest bank in Malaysia

depending on the metrics that you want

to see. Uh ASEAN presence definitely uh

and our markets of course Malaysia being

the main uh and I'm quite sure our

Indonesian uh participants here is

familiar with Sambinyaga. Uh we have

Sami Thai and Cambodia and Singapore. Uh

I come from the commercial banking

segment unfortunately Dr. uh uh

Pongan right uh commercial banking

doesn't have a business there but we

have corporate banking in in in

Thailand. Now um taking it a bit at the

group level of how this uh you know u

then fits in into our uh our strategies.

We have done a few e projects but I

think there's still a lot to be uh done

and we have supported escos. Uh that

said uh I think we are very very excited

uh in this area. Uh and for Malaysia

specifically I think if you look at our

national energy transition uh road map

uh energy efficiency is one of the six

key levers to to to reach our target. uh

at the group level as a proxy um we

don't have an EE specific target however

we call it sustainable finance and all

is lumped in into that sustain if we

take that as a proxy uh as at 2024 we've

mobilized 100 billion ringit now we've

come to that end we've surpassed that uh

that target earlier now our next phase

until 2030 we're expecting to double

that so cumulatively we're looking to

deploy 300 billion ringit

across the group uh to sustainable

finance. Uh of course there's e in that

subset of of of number um and now I'll

go a bit more to the specifics uh where

it differs from country to country. Uh

I'll start off with Malaysia. Now

Malaysia I think coming from commercial

banking I serve a lot ofmemes. One of

the problem statement for a lot ofmemes

is how do you start that transition

right and as a bank we're not the expert

so that's why we need to bring in

associate I like the collaboration piece

and I'm I'm looking forward to have a

discussion later um we've launched the

green biz ready proposition back in 2021

what essentially it is is it's a

one-stop solution where we bring in

associates uh to help our customers

transition and this is an award-winning

proposition Uh just a few weeks ago we

won the Asian banker Malaysia Awards for

the best green finance initiative. Uh

and this proposition includes E as one

of the main levers uh in green business

ready that associate is uh Malaysia

energy uh Malaysia association of energy

service companies because the moment our

customers wants to adopt E I may not be

the expert to tell them what is that

solution in their respective industry.

So we bring in myascope uh into that

conversation. Um now

uh around initiatives right we have also

developed also under green business

ready we have developed this sustainably

linked financing where uh we incentivize

customers that are reducing carbon

emission. Of course uh formemes I try to

simplify the conversation. I said if you

have not done you know energy efficiency

and renewable energy do that first if

you do that I'm quite sure that they

will reach the target and that's where

the bank will then be able to

incentivize through rebates and just to

highlight that this rebates are not on

their uh uh uh cex on their solutions

they can put it on their property

financing their factories their

warehouses so that rebate in absolute

amount becomes bigger right because some

of your re and e solutions. I mean not

to say that it's not big kax items but

of course your factories are bit much

bigger right so so that's uh uh from the

incentive part the initiative from the

the teams now um energy performance

contract is not so easy to understand so

what the team has done is we've worked

with my school to come up with a guide

right for it to be as a reference point

for our relationship managers for our

credit risk

So that whenever uh

quick right five minutes so

uh so so that we can then finance uh

escos better and more seamlessly when we

have that guide. Um so since I ran out

of time I'm going to touch uh you know

Singapore and Cambodia as well as

Indonesia has their respective

initiatives which probably I'll explain

if I have time.

>> Thank you. Thank you very much very

um yeah I mean the underline of the

remark from Mr.

is that the solution would be diverse

right across Assean and that's why uh we

have uh Abishek here thank you very much

for the support for this project too by

the way um what do you think would be

the main drivers of success in

encouraging the building sector to see

investment in energy efficiency then

>> thanks Adam I think Um I'm very

privileged to sit in the room along with

all the stakeholders, policy makers,

think tank, tech and the bankers and as

a consultant we have to uh navigate with

these different stakeholders. Now I

think the important question I think the

easier part is done. Setting up a

platform is easy part right. The

challenging part is whatever they have

spoken how you action it so that tech

people can offer you those business

model. Banks can bring their experience

how they are dealing with different

challenges to make this energy

efficiency financings more financings

more accessible or think tanks how we

can get more data to establish where

when we are um investing it is making

impact on ground and from government

point of view

do we invest or we attract private

capital and how long we have to stay

invested. Now these are very very

important question and it is very fluid.

Now I'll tell you one thing. Do you know

if you see energy efficiency if you look

at from the point of view of a commodity

you know the problem is not the capital

the problem is confidence. As an

investor you will go and invest money.

People are still investing in plastics.

People are investing in carbon credits.

But here energy efficiency where problem

is so well spelt that 40% of your

emission are locked up in built

environment and there is an incentive

and you can recover your investment but

the again the challenge is number one

awareness is very low what is happening

in Cambodia what is happening in

Singapore what is happening in Thailand

it is so diverse and when we as a

consultant look at how we can make it

possible in Azan

we just learn from each other and try to

tweak it and fit it into our country and

it takes a lot of time. Now the platform

is just a facilitator where all these

conversations can happen. Okay. So I I

firmly believe the difficult part starts

now. The orchestration of the platform.

Now imagine if if we assume for a minute

the platform which we have set up is

something like what Google has set up

like Android 20 years back. Nobody would

have believed all these apps make

grocery deliver getting delivered in 10

minutes because it's it's a business

model which in companies innovated by

using those services on the Google

platform. Imagine how tech companies can

offer similar business services to

building operators, banks. And what

banks want is to reduce the gestation

time, get more transparent data from

building owners and so that they can

invest back into their uh projects. So

bank bank will want to have more and

more building owners and operators and

they want to increase the share of the

pie where the money can revolve but they

want to get their money back and in

order to get the money back investor

want will only invest in something what

they can measure. So the these are the

challenges but I I think uh in order to

sum it up

collaboration is very very important.

You need to have institutional

capability to run this platform like 24

into 7 understanding what can we do

better, what can we do differently in

order to solve the pain points. And last

one example I just want to give you. You

look at London example, Spain example,

they have started with public buildings,

35 building, public building. Government

has to show the way. We have so many

buildings. If I want private sector to

come and make the buildings green, I

have hundreds of building all across my

country. Am I making it energy

efficient? And what is what is the

incentive which I'm creating for tech

bank uh and policy makers? They have to

show the way. So collaboration,

institutional capacity and in

innovativeness in financing is something

which will create a value for all of us

in long term.

>> Thank you. Thank you very much.

pinpointed Abhishek. So to continue that

I would go to Julie then from GGGI then

yeah confidence and awareness are the

challenges but beyond challenges there

always opportunities right Julie right

so how is DGI support unlocking these

financial barriers and catalyze the

collaborations that we they were talking

about with for example local bank or the

multilateral development bank Julie

>> thanks Adam um so GGGI has a unique

incountry presence um and prominent role

as um independent

um trusted advisor and strategic

development partner um and we're

embedded in our member and partner

governments. So this um positioning

enables GGI to serve a role as um um

enabler and facilitator. So as providing

policy advice, technical support with

regards to green growth plans, policies,

regulations, mobilization of investment

um and the implementation of um green

growth projects. So since 2015 uh GGI

has mobilized around 14 billion of US

dollars uh green investment commitments

for climate projects. So the core focus

of GGGI

um investment mobilization effort is to

bridge the gap as you rightly pointed

between financiers and projects. So

there's a lack of well-designed uh green

projects that meet the riskreward

expectations of investors. Um so um so

uh in this uh GGI uh role in the project

is to develop a bankable pipeline of

projects. Yeah. and mobilize investment.

So um one example of our work maybe that

is relevant is the establishment of the

Mongolia Green Finance Corporation. It's

a national financing vehicle uh jointly

by the public and private sector. Um so

um we have supported that establishment

and the development of funding proposal

which has been approved by by the green

climate fund. It's around $49 million.

So this national financing vehicle

provides affordable financing for energy

efficiency measures for energy intensive

users um green mortages for energy

efficient housing as well as thermal

retrofitting for for housing. So through

um this approach also and the results of

our building assessment under ALCBT, GGI

will develop pipeline of projects uh

which includes energy audits as you said

it should be um reliable data right uh

in terms of investment uh and ROI

business model um as well as greenhouse

gas impact estimates if we're talking

about development financing and of

course provide transactional advisory

support um to link uh to financial

institutions. Um so that's uh I think uh

the approach that we will have and how

GGI could uh add value uh to government efforts.

efforts.

>> Thank you very much. Thank you very

much. Always uh very elaborated and very

touching the target for this uh topics.

Well, that was the focus from the

international organizations, right? So I

would like to go again to Mr. Azmir then

um we were talking about the

collaboration that are expected right

between the financial institutions

technology and also uh with

international government uh organizations.

organizations.

Um from the financial perspective though

uh what are your views on the focus that

should be talking about with regards to

the collaboration activities with

international inter international and intergovernmental

intergovernmental

organizations what are expected uh from

the financial institutions perspective.

>> Okay. Um thank you. Um the I I think for

for e I think we all kind of agree that

collaboration is key to scale up right.

uh now we can look at it from a few

lenses like within uh CMB itself I think

some uh Abishek mentioned that you know

the beauty of it is that each country is

doing its own thing and then you learn

the best practice and then you have you

help to replicate in the other countries

then you have to uh figure out the

nuances in those respective countries

and we'll leave it to the country teams

to manage that so that's within uh you

CIB's lens. Now from uh say for example

for Malaysia I think that that collaboration

collaboration

uh we have Bank Nagara which is our

central bank and securities commission

uh created uh JC3 joint uh uh committee

on climate change and I'm on the theme

focus group pillar. uh now this is a

group of more than 10 banks and

insurance and takafu operators coming

together formemes and this is one

example of collaboration and uh in fact

in a month's time we'll have be having

our climate conference and e is

highlighted as one of the topics to be

covered mainly because we know that

renewable energy and solar rooftop is

understood by many and everyone is aware

we wanted to highlight that as one of

the you know key things formemes to also

understand it's a low hanging fruit but

it needs to get the message needs to get

out there right um and and from an

industry perspective as well bank

naggara central bank uh has many funds

available uh to to support this segment

for example for the escos and you know

people like Dave uh uh you know the

companies that is in this business

providing the solutions we have

high-tech and green facility provided by

Bangagari is quite cheap. It's quite

competitive for the companies that wants

to adopt uh sorry this is not as a

service but if they do want to adopt

those solutions and we need to finance

those companies bank Nagara has low

carbon transition facility uh in fact

downstairs MGTC has their green tech

financing scheme so in short it's not

short of you know support and and the

industry is coming together in in that

sense uh uh in collaboration now also

touch on Indonesia I didn't have time

just now. In Indonesia, our Saminaga

team is working with UNEP FI uh and

there's a grant given uh specifically

for women and one of the condition is

for businesses that's transitioning.

They're giving some grants. So we're

using those grants to wave some fees and

we also have existingly uh Saminiaga has

a program for women. So we're giving

cheaper uh financing a bit because it's

women and the grant from UNET VFI

because they say you know these

businesses also have to transition we're

using that right so that's one one one

example for Indonesia

um the program is about two years and

we're launching it very soon in Cambodia

uh maybe need to speak to Dr. Yan later

I understand but my my Cambod uh my

Cambodian team has been trying to do

this e and it I think probably Perhaps

he was waiting for that policy document.

It was taking some time and and we

wanted to work with ADB because there's a cheap funding there. Uh waited quite a

a cheap funding there. Uh waited quite a while. Uh eventually the team decided

while. Uh eventually the team decided let's do it with our own funding. It's a

let's do it with our own funding. It's a $5 million funding. We'll give it a bit

$5 million funding. We'll give it a bit cheaper. Now as and when the ADB funding

cheaper. Now as and when the ADB funding is ready uh then I think the team would

is ready uh then I think the team would be then ready to tap on or scale up uh

be then ready to tap on or scale up uh that that that uh uh initiative for

that that that uh uh initiative for Singapore. Before we have our

Singapore. Before we have our sustainable link financing uh uh of

sustainable link financing uh uh of course we put milestones for them to

course we put milestones for them to reach targets. E is crucial for them to

reach targets. E is crucial for them to keep on meeting those targets right uh

keep on meeting those targets right uh so so the businesses there that have

so so the businesses there that have signed up for senior link would then

signed up for senior link would then require E as as part and parcel of of

require E as as part and parcel of of their journey. Um yeah I think that's

their journey. Um yeah I think that's the uh you know the collaborations. I'm

the uh you know the collaborations. I'm quite sure there's more excited to hear

quite sure there's more excited to hear about this platform. So, so I think that

about this platform. So, so I think that there's definitely more.

there's definitely more. >> Thank you. Thank you very much. So, like

>> Thank you. Thank you very much. So, like this is this is really encouraging

this is this is really encouraging because we have already like starting

because we have already like starting the matchmaking now, right? So, even

the matchmaking now, right? So, even during the launching we we start the

during the launching we we start the matchmaking. Thank you very much uh Mr.

matchmaking. Thank you very much uh Mr. Azmir. And yeah, one of the highlight is

Azmir. And yeah, one of the highlight is the EE scheme is lagging understanding

the EE scheme is lagging understanding right compared to the renewable energy

right compared to the renewable energy and uh David you mentioned a little bit

and uh David you mentioned a little bit about the as surface right and these

about the as surface right and these schemes um is now gaining more

schemes um is now gaining more attention. So probably this is like a

attention. So probably this is like a good place you know to enlighten us a

good place you know to enlighten us a little bit uh about the business model

little bit uh about the business model of as a service and why is it such an

of as a service and why is it such an effective catalyst act for accelerating

effective catalyst act for accelerating the adoption of advanced and sustainable

the adoption of advanced and sustainable technology and how does as a service

technology and how does as a service cooling as a service can support

cooling as a service can support investment in sustainable projects and

investment in sustainable projects and help that the risking for these

help that the risking for these projects.

projects. >> Sure. So, um, I think it's been been

>> Sure. So, um, I think it's been been brought up a few times already that the

brought up a few times already that the solutions for different building types

solutions for different building types in different countries is different.

in different countries is different. What works in a school in Singapore

What works in a school in Singapore doesn't work in a data center in

doesn't work in a data center in Iceland. Um, and I think that's adding

Iceland. Um, and I think that's adding to all the confusion and and the

to all the confusion and and the complexity. Um, and when you're looking

complexity. Um, and when you're looking at investors coming in, there's

at investors coming in, there's confidence. I think you mentioned that

confidence. I think you mentioned that they don't have the confidence in it

they don't have the confidence in it because they might not understand what

because they might not understand what the technology is. So, in the last week,

the technology is. So, in the last week, I've worked with a resort hotel in Bali.

I've worked with a resort hotel in Bali. I've worked with a hotel and office

I've worked with a hotel and office chain, a hotel office and and uh retail

chain, a hotel office and and uh retail chain here in in Malaysia, a publishing

chain here in in Malaysia, a publishing press uh facility in in Malaysia, and in

press uh facility in in Malaysia, and in Singapore also a data center. They all

Singapore also a data center. They all have totally different technologies in

have totally different technologies in terms of energy efficiency and the

terms of energy efficiency and the cooling equipment that we use. So,

cooling equipment that we use. So, therefore, it's very complicated, but

therefore, it's very complicated, but they all buy the same thing. They all

they all buy the same thing. They all buy lowcarbon cooling. That's it. So

buy lowcarbon cooling. That's it. So from an investment perspective, everyone

from an investment perspective, everyone understands lowcarbon cooling. That's

understands lowcarbon cooling. That's what you're providing. That's the

what you're providing. That's the product. The product is not a particular

product. The product is not a particular type of chiller, a particular type of

type of chiller, a particular type of cooling tower, a particular type of

cooling tower, a particular type of technology or software that can be quite

technology or software that can be quite complicated. The outcome is what you're

complicated. The outcome is what you're selling. So I think the the thing with

selling. So I think the the thing with an as a service business is it allows

an as a service business is it allows investors and and banks to really have

investors and and banks to really have confidence in the business because they

confidence in the business because they know what they're selling. So what what

know what they're selling. So what what cooling as a service is, it's the same

cooling as a service is, it's the same as lighting as a service, uh cooling as

as lighting as a service, uh cooling as a service, workplace as a service. All

a service, workplace as a service. All of the cooling assets are owned by the

of the cooling assets are owned by the company. So we have about 250 million US

company. So we have about 250 million US of chillers, cooling towers, pumps that

of chillers, cooling towers, pumps that we own. And then we sell air

we own. And then we sell air conditioning by the hour. So for every

conditioning by the hour. So for every refrigerant ton hour of cooling that you

refrigerant ton hour of cooling that you use, you pay a fixed fee. It's like how

use, you pay a fixed fee. It's like how you buy electricity. It's kind of like a

you buy electricity. It's kind of like a utility for cooling. So that's a very

utility for cooling. So that's a very easy model for banks to understand. We

easy model for banks to understand. We have a recurring revenue every month. We

have a recurring revenue every month. We get an invoice. It's paid by gyro. Um

get an invoice. It's paid by gyro. Um we're like a utility company and people

we're like a utility company and people like investing in sustainable companies

like investing in sustainable companies which have good revenue streams and good

which have good revenue streams and good cash flows. So what we're kind of doing

cash flows. So what we're kind of doing is we're giving that confidence because

is we're giving that confidence because we're getting bigger because that's

we're getting bigger because that's where there's a big disconnect. The

where there's a big disconnect. The investment companies and the banks they

investment companies and the banks they have huge big companies. The building

have huge big companies. The building owners are huge big companies and in the

owners are huge big companies and in the middle you have these small escos and

middle you have these small escos and small technology companies which you

small technology companies which you don't have the confidence in. So we're

don't have the confidence in. So we're trying to build confidence in these

trying to build confidence in these companies. So what as a service does it

companies. So what as a service does it kind of puts all that together and

kind of puts all that together and allows you to have something to invest

allows you to have something to invest in. I think the other thing it does is

in. I think the other thing it does is it's it's a beauty of the business

it's it's a beauty of the business model. It allows you to diversify your

model. It allows you to diversify your risk. So if you're let's say an investor

risk. So if you're let's say an investor and you want to invest in a $2 million

and you want to invest in a $2 million project in Cambodia and you're not sure

project in Cambodia and you're not sure what the technology is, it's a new bit

what the technology is, it's a new bit of technology but it's going to produce

of technology but it's going to produce energy efficiency over the next 5 years.

energy efficiency over the next 5 years. that's hard to get someone excited about

that's hard to get someone excited about because it's high risk and it's a low

because it's high risk and it's a low amount. A lot of these things are proof

amount. A lot of these things are proof of concept projects. So, it's low

of concept projects. So, it's low volume. So, so banks, are you really

volume. So, so banks, are you really going to spend that much time

going to spend that much time understanding it to to lend 2 million

understanding it to to lend 2 million bucks? Maybe not. But with as a service,

bucks? Maybe not. But with as a service, so now I can take 10 projects. I can

so now I can take 10 projects. I can take a $2 million project in Cambodia, a

take a $2 million project in Cambodia, a $500,000 project in Singapore, a $3

$500,000 project in Singapore, a $3 million project in India. I put it all

million project in India. I put it all together and I can go to a bank and say

together and I can go to a bank and say this is a $25 million investment. Do you

this is a $25 million investment. Do you now want to get involved in

now want to get involved in understanding what I do to lend me$2

understanding what I do to lend me$2 million? Absolutely. It's a totally

million? Absolutely. It's a totally different conversation with the banks

different conversation with the banks because we've been there like when we

because we've been there like when we started we were borrowing 1 million2

started we were borrowing 1 million2 million very hard to get banks on board.

million very hard to get banks on board. Now we go and say we got a $30 million

Now we go and say we got a $30 million package. So you can you can attract

package. So you can you can attract those investors and they're looking

those investors and they're looking capital is looking to be deployed in

capital is looking to be deployed in sustainable investments. there's so much

sustainable investments. there's so much capital there we just can't get the

capital there we just can't get the confidence to deploy it. I think the

confidence to deploy it. I think the other thing from a risk perspective uh

other thing from a risk perspective uh so we sell cooling right so if no if if

so we sell cooling right so if no if if we did this building if they didn't use

we did this building if they didn't use any air conditioning we wouldn't get any

any air conditioning we wouldn't get any revenue and we have all these costs

revenue and we have all these costs that's pretty risky but when you have a

that's pretty risky but when you have a portfolio of buildings across Southeast

portfolio of buildings across Southeast Asia in different asset classes you're

Asia in different asset classes you're now very drisk because if one building

now very drisk because if one building in in Malaysia doesn't do well but you

in in Malaysia doesn't do well but you have you know a huge portfolio of

have you know a huge portfolio of businesses then you still your cash

businesses then you still your cash flows are still good so when we went

flows are still good so when we went through co it was a really unique

through co it was a really unique experience. So we started cooling as a

experience. So we started cooling as a service in 2013

service in 2013 and it it became 100% of our business.

and it it became 100% of our business. So when COVID hit 100% pretty much of

So when COVID hit 100% pretty much of our revenue was as a service. So our all

our revenue was as a service. So our all stakeholders went oh my god this is a

stakeholders went oh my god this is a problem. No one's going to use any

problem. No one's going to use any cooling. But when the shopping malls in

cooling. But when the shopping malls in Singapore and Malaysia were closed the

Singapore and Malaysia were closed the data centers in India were doing really

data centers in India were doing really really well because we weren't out

really well because we weren't out shopping. We were inside using data

shopping. We were inside using data center services, watching Netflix,

center services, watching Netflix, listening to Spotify, Microsoft, uh,

listening to Spotify, Microsoft, uh, Teams, everyone's using now. So, we lost

Teams, everyone's using now. So, we lost revenue over here when the shopping

revenue over here when the shopping malls are closed, but then the data

malls are closed, but then the data centers went through the roof. Our data

centers went through the roof. Our data centers tripled in less than 8 months.

centers tripled in less than 8 months. Um, and you know, when India had their

Um, and you know, when India had their shut down, Singapore didn't. When

shut down, Singapore didn't. When Malaysia had theirs, Indonesia didn't.

Malaysia had theirs, Indonesia didn't. So, you can diversify the asset classes

So, you can diversify the asset classes and the countries that allows you to

and the countries that allows you to sort of be more robust. And I think it's

sort of be more robust. And I think it's it's the reason we love that business

it's the reason we love that business model is so care has been using it for

model is so care has been using it for for 12 13 years. There's nothing special

for 12 13 years. There's nothing special about what Care does. It's the business

about what Care does. It's the business model that is really unique. So lighting

model that is really unique. So lighting as a service, lifts as a service, air

as a service, lifts as a service, air conditioning as a service, energy

conditioning as a service, energy efficiency as a service, utilities as a

efficiency as a service, utilities as a service. I think we see that as being

service. I think we see that as being the the way to get this mass adoption

the the way to get this mass adoption and to get more

send us any money. So, I think I was saying um before the session, the first

saying um before the session, the first bank loan we got, we got lent $1.6

bank loan we got, we got lent $1.6 million to do a project. In order to do

million to do a project. In order to do that, we had to give the bank on deposit

that, we had to give the bank on deposit 1.8 million. So, I lent them $200,000

1.8 million. So, I lent them $200,000 and then they charged me interest for

and then they charged me interest for that privilege. But they didn't have the

that privilege. But they didn't have the confidence in what we were doing. Now,

confidence in what we were doing. Now, banks are coming to us and saying, "Yes,

banks are coming to us and saying, "Yes, we want to bank your cash flows. We want

we want to bank your cash flows. We want to bank these projects." and investors

to bank these projects." and investors are now coming to us can we invest in

are now coming to us can we invest in your business because we want to deploy

your business because we want to deploy that capital.

that capital. >> Great. Great. Very great. Thank you.

>> Great. Great. Very great. Thank you. Thank you very much David. This is very

Thank you very much David. This is very enlightening because um so far like when

enlightening because um so far like when we are talking about energy efficiency

we are talking about energy efficiency sometimes we just like okay see one

sometimes we just like okay see one options and then think like these

options and then think like these options are answering everything right

options are answering everything right but then the real reality is there's uh

but then the real reality is there's uh another options. It's always like the

another options. It's always like the third options right David as you say in

third options right David as you say in the beginning. So yeah, thank you very

the beginning. So yeah, thank you very much for uh letting us ask about the as

much for uh letting us ask about the as the service as one of the potential

the service as one of the potential schemes that we can you know explore

schemes that we can you know explore more and uh learn more and you know like

more and uh learn more and you know like uh do the collaborative efforts together

uh do the collaborative efforts together to see like this as one of also one of

to see like this as one of also one of the potential um answers to accelerate

the potential um answers to accelerate the energy efficiency not in only in the

the energy efficiency not in only in the building but also in the industry

building but also in the industry perhaps. Yeah, David. Yeah, thank you.

perhaps. Yeah, David. Yeah, thank you. And now that we have shared like a lot

And now that we have shared like a lot of views from different panelists, our

of views from different panelists, our sessions today is about the platform. So

sessions today is about the platform. So Abishek

Abishek um what is what makes a good matchmaking

um what is what makes a good matchmaking platform? What needs to be done then to

platform? What needs to be done then to ensure its sustainability so that it can

ensure its sustainability so that it can delivers the goals that is aimed when we

delivers the goals that is aimed when we develop this platform? Abishek.

develop this platform? Abishek. >> Thanks Adam. uh it's music to my ears

>> Thanks Adam. uh it's music to my ears what I'm hearing

what I'm hearing all these uh models if you go out and

all these uh models if you go out and check with building owners I'm very

check with building owners I'm very confident most of them haven't heard

confident most of them haven't heard these innovative business model because

these innovative business model because there is lack of awareness country to

there is lack of awareness country to country which differs now when it comes

country which differs now when it comes to matchmaking

to matchmaking the platform is intelligent enough

the platform is intelligent enough because it is designed on a premise that

because it is designed on a premise that somebody is a problem owner or a

somebody is a problem owner or a solution seeker

solution seeker And on the other side of the spectrum

And on the other side of the spectrum you have a solution provider and based

you have a solution provider and based on your criteria how we can match based

on your criteria how we can match based on the parameters. So like I heard it

on the parameters. So like I heard it makes more sense to arrive at a

makes more sense to arrive at a portfolio and this is what we learned

portfolio and this is what we learned when we were talking to a lot of

when we were talking to a lot of stakeholder when we were designing this

stakeholder when we were designing this platform and there is no incentive for

platform and there is no incentive for banks or investors or escos to pick one

banks or investors or escos to pick one building in one um area which is of

building in one um area which is of maybe a one type or one asset class.

maybe a one type or one asset class. They said okay it makes more sense

They said okay it makes more sense precisely what you just summarized. Can

precisely what you just summarized. Can we club multiple buildings together and

we club multiple buildings together and create a portfolio which is of my

create a portfolio which is of my interest? Then we thought how our

interest? Then we thought how our platform can enable that. So the

platform can enable that. So the platform provides you these

platform provides you these capabilities. Now the matchmaking

capabilities. Now the matchmaking whether a company is looking for

whether a company is looking for financial support, the company is

financial support, the company is looking for technology support solutions

looking for technology support solutions or company is just looking for some uh

or company is just looking for some uh technical inputs or advice from

technical inputs or advice from universities experts or consultants.

universities experts or consultants. These are all real world asking owner I

These are all real world asking owner I need from different stage at different

need from different stage at different point in time. So this platform you have

point in time. So this platform you have to just go and say I'm looking for this.

to just go and say I'm looking for this. This is my appetite. This is what I'm

This is my appetite. This is what I'm looking for. Can we can I find something

looking for. Can we can I find something and the platform will intelligently list

and the platform will intelligently list you some of the options based on what

you some of the options based on what solution providers have posted on the

solution providers have posted on the platform. Now you have to pick. Now it

platform. Now you have to pick. Now it is very much like Apple watch. Apple

is very much like Apple watch. Apple watch is not a doctor but still it can

watch is not a doctor but still it can give you indication 90% you might have

give you indication 90% you might have some heart problems go and see the

some heart problems go and see the doctor now then you go and doctor and

doctor now then you go and doctor and technical person or uh expert can

technical person or uh expert can actually tell you the diagnosis but that

actually tell you the diagnosis but that 90% is very critical because it reduces

90% is very critical because it reduces the gestation t time involved so before

the gestation t time involved so before any disaster happen Apple watch can save

any disaster happen Apple watch can save you from that the platform works on a

you from that the platform works on a very similar principle we want to reduce

very similar principle we want to reduce the gestation time from 6 months in

the gestation time from 6 months in these match matchmaking and bring it

these match matchmaking and bring it down to one month and as a bank you get

down to one month and as a bank you get 100 projects in a pipeline and you can

100 projects in a pipeline and you can pick some of those based on your

pick some of those based on your interest and take these conversation

interest and take these conversation offline. Our our KPI is just to put

offline. Our our KPI is just to put those right buildings against those

those right buildings against those solution providers and you can take

solution providers and you can take those conversation offline. Now tomorrow

those conversation offline. Now tomorrow if feedback comes we want some more

if feedback comes we want some more intelligent features.

intelligent features. We want to add some of these which can

We want to add some of these which can also reduce some of the work burden on

also reduce some of the work burden on bank side technology company side the

bank side technology company side the platform can facilitate that. So coming

platform can facilitate that. So coming to uh what prec question you asked

to uh what prec question you asked precisely what what what will work is

precisely what what what will work is agility how we can evolve this platform

agility how we can evolve this platform so that it also keep up with the

so that it also keep up with the requirements of the ecosystem. It is not

requirements of the ecosystem. It is not that we have developed something and we

that we have developed something and we just work on that. Instagram gives you

just work on that. Instagram gives you app updates every 3 months. Something

app updates every 3 months. Something moves, something changes because they're

moves, something changes because they're continuously listening what is

continuously listening what is happening. So platform has to evolve.

happening. So platform has to evolve. It's a living entity. So agility is very

It's a living entity. So agility is very very important and you have to talk to

very important and you have to talk to these people to understand what feature

these people to understand what feature they would like to prefer. I want to

they would like to prefer. I want to talk to them. I want to want some due

talk to them. I want to want some due diligence report. And one feature we

diligence report. And one feature we also got, okay, what if I I'm already

also got, okay, what if I I'm already certified. Can can this be a quick

certified. Can can this be a quick conversation starter? I just upload my

conversation starter? I just upload my certified energy efficiency report and

certified energy efficiency report and that's what bank wants to start the

that's what bank wants to start the conversation. So yes, you can see see

conversation. So yes, you can see see green tick or blue tick on the platform

green tick or blue tick on the platform to see this building is more reliable

to see this building is more reliable than 90% of the other building because

than 90% of the other building because they are not certified. So agility uh

they are not certified. So agility uh second is how you can uh bring more

second is how you can uh bring more granularity in the data which is being

granularity in the data which is being uploaded. Now what building owners will

uploaded. Now what building owners will hate especially small building owners

hate especially small building owners uploading lot of data they just hate it

uploading lot of data they just hate it and it it becomes a government project

and it it becomes a government project right I want this data give me this

right I want this data give me this certificate and it becomes a 3 months

certificate and it becomes a 3 months project nobody wants that I just want

project nobody wants that I just want what is your building what are minimum

what is your building what are minimum parameter vitals and then we can get you

parameter vitals and then we can get you going that is the beauty of this

going that is the beauty of this platform so that that that can expedite

platform so that that that can expedite the conversation and the finally is and

the conversation and the finally is and what like how many schemes and

what like how many schemes and innovative uh policies you mentioned

innovative uh policies you mentioned But how can you

But how can you disseminate this in a very organic

disseminate this in a very organic manner? So you have to continuously

manner? So you have to continuously put some offline uh these online forums

put some offline uh these online forums where you have to bring these industry

where you have to bring these industry expert make people aware make building

expert make people aware make building operators uh in different countries

operators uh in different countries aware of it and you bring these

aware of it and you bring these technology companies to tell them hey

technology companies to tell them hey there is something like cooling as a

there is something like cooling as a surface which you can also try. So

surface which you can also try. So communication, collaboration is the key,

communication, collaboration is the key, agility, then the communication and

agility, then the communication and collaboration and awareness. These are

collaboration and awareness. These are very very important to make this uh

very very important to make this uh matchmaking uh aspect work.

matchmaking uh aspect work. >> Thank you. Thank you. Thank you. I think

>> Thank you. Thank you. Thank you. I think we are all agree that the collaborations

we are all agree that the collaborations and cooperations are going to be the

and cooperations are going to be the key. Then um that will put us to the

key. Then um that will put us to the last questions then. Yeah. Um as um what

last questions then. Yeah. Um as um what role then do you see uh Dr. an uh

role then do you see uh Dr. an uh regional cooperations

regional cooperations and the platforms like the one that ACE

and the platforms like the one that ACE and GGI are establishing it the Asan

and GGI are establishing it the Asan built playing in mobilizing financing

built playing in mobilizing financing for low carbon buildings and how you

for low carbon buildings and how you support the collaboration that are

support the collaboration that are already been iterated reiterated many

already been iterated reiterated many time in this panel. Please talk

Uh thank thank you. I think that this platform is very important uh for the

platform is very important uh for the public and uh private sector and I fully

public and uh private sector and I fully support the initiative. Uh first I I

support the initiative. Uh first I I think that it is uh important that uh

think that it is uh important that uh all uh partners involved can learn each

all uh partners involved can learn each other from each other in the in the

other from each other in the in the regional level. Uh second I think that

regional level. Uh second I think that they they can uh discuss uh

they they can uh discuss uh how to uh make investment in each other.

how to uh make investment in each other. And the third one uh I think that uh it

And the third one uh I think that uh it is important for Asian countries as a

is important for Asian countries as a community to have a harmonized standard

community to have a harmonized standard uh in regard to the uh green building

uh in regard to the uh green building standard and the green finance network.

standard and the green finance network. >> Thank you. Thank you very much. Very

>> Thank you. Thank you very much. Very concise and very uh conclusive. Uh Dr.

concise and very uh conclusive. Uh Dr. Yan. So

Yan. So of course that we would like to continue

of course that we would like to continue the interesting discussions but

the interesting discussions but unfortunately time has um limited.

unfortunately time has um limited. So before we close uh this panel I would

So before we close uh this panel I would like to um request please uh one minute

like to um request please uh one minute um closing statements. what are your

um closing statements. what are your expectation and encouraging the people

expectation and encouraging the people to join the platform from each one of

to join the platform from each one of you. Uh as the Dr. Yan already con

you. Uh as the Dr. Yan already con concluded his uh remarks probably

concluded his uh remarks probably started from Julie then

>> thank you. So um as already mentioned by Dr. Yan and um Mr. debate. Um so this

Dr. Yan and um Mr. debate. Um so this this is a platform but it needs um

this is a platform but it needs um financial institutions esco and building

financial institutions esco and building owners

owners to put their project uh their investment

to put their project uh their investment requirements in the platform so the

requirements in the platform so the matchmaking will happen what are the

matchmaking will happen what are the services that's available in the market

services that's available in the market so we provide this um engagement

so we provide this um engagement platform but ultimately um awareness uh

platform but ultimately um awareness uh I think and um encouragement from

I think and um encouragement from building owners that are needing

building owners that are needing investment to use the platform as an

investment to use the platform as an option um would be essential and of

option um would be essential and of course our through our country level

course our through our country level green finance network we will also

green finance network we will also encourage our local financial

encourage our local financial institutions or asans so we encourage

institutions or asans so we encourage like banks in example in Malaysia to

like banks in example in Malaysia to also look at um increasing their

also look at um increasing their portfolio in other countries through

portfolio in other countries through this platform so I think that's how we

this platform so I think that's how we can um really make use and utilize this

can um really make use and utilize this this platform uh to uh lowcarbon

this platform uh to uh lowcarbon transition of our uh project countries

transition of our uh project countries and beyond. Thanks

and beyond. Thanks >> very much. Go to Abishek. Yeah,

>> very much. Go to Abishek. Yeah, >> I think uh the word I want to um use

>> I think uh the word I want to um use here it how we can think of this

here it how we can think of this platform as a go-to platform for

platform as a go-to platform for anything related to energy efficiency

anything related to energy efficiency tomorrow whether it is government

tomorrow whether it is government whether it is policy makers, think

whether it is policy makers, think tanks, tech companies, bank and if they

tanks, tech companies, bank and if they are not on this platform they should

are not on this platform they should have FOMO.

Thank you. >> Thank you very much

>> Thank you very much Dave. Uh so I think the the the platform

Dave. Uh so I think the the the platform is fantastic and I think the technology

is fantastic and I think the technology and these sort of platforms really

and these sort of platforms really support businesses like K which are as a

support businesses like K which are as a service businesses. So I think they they

service businesses. So I think they they absolutely are vital. Um and what I

absolutely are vital. Um and what I would say from a a building owner

would say from a a building owner perspective um what do you want to do if

perspective um what do you want to do if if you're g given the challenge you want

if you're g given the challenge you want to have a let's come back here in one

to have a let's come back here in one year's time and everyone show me your

year's time and everyone show me your carbon neutral buildings.

carbon neutral buildings. How much money are you going to spend?

How much money are you going to spend? How much time are you going to spend?

How much time are you going to spend? And can you even do it? Or

And can you even do it? Or sign a contract and download an app.

sign a contract and download an app. That's all you have to do. That's what

That's all you have to do. That's what an as a service company is. Sign a

an as a service company is. Sign a contract and download an app. That's how

contract and download an app. That's how you sign up for Netflix. That's how you

you sign up for Netflix. That's how you sign up for Spotify. That's how you sign

up for Apple Music. That's how you sign up for cooling as a service. And you can

up for cooling as a service. And you can come back in a year's time and you will

come back in a year's time and you will have zero or lowcarbon cooling. And it

have zero or lowcarbon cooling. And it has to be financially viable. It has to

has to be financially viable. It has to be cheap, etc. But that's the simplicity

be cheap, etc. But that's the simplicity of it.

of it. >> Thank you. simplicity. Thank you. Thank

>> Thank you. simplicity. Thank you. Thank you, Dave. Mr.

you, Dave. Mr. >> Um, for me, I think uh across Assean

>> Um, for me, I think uh across Assean countries, you know, various maturities

countries, you know, various maturities and nuances. I'm quite sure there'll be

and nuances. I'm quite sure there'll be uh things that are a bit more specific

uh things that are a bit more specific to each countries. However, I think the

to each countries. However, I think the common direction is quite clear uh on

common direction is quite clear uh on energy efficiency. Uh and I guess um I'm

energy efficiency. Uh and I guess um I'm I'm excited for the future. uh of course

I'm excited for the future. uh of course uh if possible would like CNB to have

uh if possible would like CNB to have the first right of refusal to but

the first right of refusal to but wearing on my you know broader hat as an

wearing on my you know broader hat as an industry I think this platform then

industry I think this platform then serves to bring everyone together so

serves to bring everyone together so things like that like the uh the forums

things like that like the uh the forums that I'm on right the JC3 focus where is

that I'm on right the JC3 focus where is the more than 10 banks and is a bigger

the more than 10 banks and is a bigger group I think it's useful to you know to

group I think it's useful to you know to know that such platform exist and it's

know that such platform exist and it's you know I mean we can start with

you know I mean we can start with Malaysia and then of course if there's a

Malaysia and then of course if there's a you know a similar uh group in Indonesia

you know a similar uh group in Indonesia in in Singapore and Cambodia you can do

in in Singapore and Cambodia you can do the same. So so really I think uh still

the same. So so really I think uh still early days uh I'm quite sure there'll be

early days uh I'm quite sure there'll be various models and but but I think this

various models and but but I think this platform is is really key uh to bringing

platform is is really key uh to bringing that all together. Thank you.

that all together. Thank you. >> Thank you. Thank you very much. Our

>> Thank you. Thank you very much. Our panelists give us a round of applause

panelists give us a round of applause please. Thank you very much for the

please. Thank you very much for the sharing and yeah uh we are happy to you

sharing and yeah uh we are happy to you know continue the communications the

know continue the communications the collaborations uh please reach out to

collaborations uh please reach out to Ace and also DGI if you would like to

Ace and also DGI if you would like to learn about the platform. Thank you very

learn about the platform. Thank you very much everyone. I will return this to Mr.

much everyone. I will return this to Mr. MC. Thank you very much.

MC. Thank you very much. >> Thank you.

Thank you moderator and panelist for the insightful session. So this led us to

insightful session. So this led us to the end of the session 13 unlocking

the end of the session 13 unlocking unlocking uh lowcarbon building towards

unlocking uh lowcarbon building towards oops unlocking the potential of uh

oops unlocking the potential of uh lowcarbon buildings in Asian. So thank

lowcarbon buildings in Asian. So thank you again for your uh attention and your

you again for your uh attention and your participation in this session. Uh uh

participation in this session. Uh uh thank you and this is to concludes that

thank you and this is to concludes that uh this is the end of the session.

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YouTube Transcript:#AEBF25 | Day 3 - Accelerating Transition Towards Low-Carbon Buildings in ASEAN