We are honoured to announce that ENGIE Factory Asia Pacific & ENGIE South East Asia have been named Corporate winners in the IAA Singapore 2022 Business as a Force for Good Awards!
These awards honour Singapore-based companies who have:
- Demonstrated thought-leadership with respect to “Business as a Force for Good (BAFG)”
- Created a vision, mission statement and strategy clearly demonstrating their BAFG commitment
- Developed corporate social responsibility best practices
- Achieved remarkable economical results and meaningful societal impact to the BAFG initiatives including but not limited to Environmental, Social & Governance (ESG), Corporate Social Responsibility (CSR), Diversity & Inclusion (D&I), Sustainable Development Goals (SDG) and Sustainability.
“We congratulate ENGIE Factory and ENGIE South East Asia for winning the IAA Singapore 2022 Business as a Force for Good (Corporate category) Award,” said IAA BAFG lead Tan Eng Hwa TIEMBA’16. “The award reflects their commitment to engage in responsible business practises that serves society’s needs in a sustainable way.”
ENGIE South East Asia helps customers decarbonize by reducing their energy consumption through affordable green energy solutions. They offer innovative energy solutions that enhance energy performance for businesses and communities. The company acts throughout the value chain and offers solutions to enable an affordable, reliable, and sustainable energy transition for their clients.
“Accelerating Southeast Asia’s energy transition towards carbon neutrality is ENGIE’s core focus and winning the Business as a Force for Good award is a recognition of the commitment from all our teams in the region to build a carbon free future. By integrating proven and innovative solutions, we are helping sectors such as Industry, Real-Estate and Data Centers, commit to a fast paced transformation journey to net zero,” said Thomas Baudlot, CEO Energy Solutions APAC and Country Head South East Asia.
To accelerate their decarbonisation efforts, the company has a dedicated corporate venture arm called ENGIE Factory (formed since 2018) which focuses on building new climate-tech startup solutions. ENGIE Factory works with founders to deliver investment-grade venture opportunities. They build their ventures by combining the best of both worlds: the entrepreneurial skillset and the established corporate assets. This results in commercialised climate-tech solutions that are customer-focused, affordable, and market-ready.
“As a corporate venture builder, ENGIE Factory takes a strategic approach to building and investing in new founders and ventures to accelerate the transition to a carbon-neutral economy. The promise of a financial return alone is not enough for us to invest in a startup. We balance the requirement for financial gain with strategic benefit for the wider ENGIE group and, most importantly, the benefit for the planet and society by targeting 100Mt of carbon abatement per venture, ” said Edwin Cheang, COO, ENGIE Factory.
ENGIE Factory plans to scale their Venture Build Program across Asia Pacific and the Middle East where they work with their founders to iterate, prototype and test ideas and together, build a startup fit for international growth. Founders will have access to ENGIE’s domain expertise, and ENGIE business units, as well as their client network across 70 countries. Their founders who successfully complete the program will also receive seed funding while retaining majority equity and the freedom to set the business direction and see their venture vision come to life.
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