MVGX Holdings, a Singapore-based green fintech group, has established a new subsidiary, ‘MVGX Tech’, dedicated to carbon Software-as-as-Service (SaaS) products and services; in a move hoping to contribute toward a more inclusive and sustainable future.
As part of the move, MVGX Tech has also created its new ‘Carbon Connect Suite’, which contains a selection of the firm’s carbon SaaS offerings – focusing on carbon measurement, reporting, and verification, decarbonisation rating, carbon credit development and issuance, carbon credit listing and registry, and carbon credit trading infrastructure.
The new system aims to provide a holistic, end-to-end suite of products, software, and services that enable corporations, governments, and institutions to meet their sustainability commitments.
The provider of regulated financial services and end-to-end carbon SaaS solutions explained that the new Carbon Connect Suite covers all three scopes of emissions, enabling companies to manage their carbon balance sheet while giving them a more transparent and thorough understanding of their sustainability journeys.
Critically, it enables companies to comply with emerging regulatory requirements such as mandatory disclosures as part of the European Union’s Carbon Border Adjustment Mechanism (CBAM).
Dr Bo Bai, executive chairman and co-founder of MVGX, commented: “For the past few years, we’ve built up our technology capabilities, expertise, and infrastructure across the entire decarbonisation value chain.
“The formation of MVGX Tech is a culmination of that work as we continue to formalise and strengthen our offerings in the carbon SaaS space.
“With his expertise in bringing technology solutions to market, Frank will lead the team during this exciting period of growth, especially as the demand for sustainability reporting solutions intensifies in the market.”
Developed in partnership with globally-recognised ISO certification bodies, such as BSI and TÜV-SÜD, the Carbon Connect Suite looks to ensure the utmost efficiency, rigour, and credibility in carbon calculation consistent with international standard requirements.
MVGX Tech appoints Frank Zhang
Frank Zhang, a fintech, ISO standard certification, and sustainability veteran is assuming the leadership role of president of MVGX Tech.
Zhang boasts over 20 years of experience in business strategy, technology management, and advisory services across the US and the Asia Pacific markets.
Having most recently served as the managing director of Greater China at BSI, he has also held various leadership positions at firms including IBM, Citibank, Bank of China, Capgemini, Ernst & Young, and Dentsu International.
Commenting on the formation of the subsidiary, Zhang said: “The increasing severity of the climate crisis has shown organisations of all sizes across the globe that we need to take immediate action in the fight against climate change.
“Making decarbonisation commitments is one thing, but having the right tools, data, and expertise to verifiably back them up is another. It is MVGX Tech’s goal to enable companies to effectively measure, manage, and report their carbon footprint and to achieve their carbon reduction targets while meeting evolving regulatory requirements and shareholder demands for greater climate responsibility.”
