Pavilion Energy partners with Japan’s Asuene to promote decarbonisation
Pavilion will leverage its portfolio of carbon offsets and trading capacity to offer carbon offsetting and risk management solutions that complement Asuzero’s customers’ needs.By Shardul Sharma
Singapore’s Pavilion Energy on May 2 announced a partnership with Asuene, a climate tech company in Japan, to support and facilitate energy transition in Singapore and Japan through the trading of carbon offsets.
The partnership with Asuene was signed under an agreement with Pavilion’s subsidiary, Pavilion Energy Trading & Supply. The first voluntary carbon trade between the two companies has contributed to the conservation of native forest ecosystems in South America, through supporting local efforts and activities that combat deforestation.
Pavilion Energy's partnership with Asuene's Asuzero Singapore, its first overseas subsidiary, aims to contribute to the global decarbonisation effort by enabling the trading of carbon offsets between Pavilion Energy and Asuene's Asuzero customers, Pavilion said.
Asuzero is a cloud-based climate platform that measures, reports, and reduces carbon emissions for enterprises, enabling companies to visualise and reduce their carbon dioxide emissions in a one-stop shop.
Ong Seng Leong, head of energy financial solutions and environmental solutions from Pavilion Energy, said, “We believe in utilising market-based instruments to drive climate action. One of our approaches is in financing high impact carbon projects that deliver verified emission reductions and local sustainable development opportunities. The carbon offsets can form part of the strategy deployed by our corporate customers to accomplish decarbonisation goals. Our strategic partnership with Asuene represents a significant milestone for the company and is a reflection of the growing demand of carbon offsets.”
Through this partnership, Pavilion's environmental solutions team will leverage its portfolio of carbon offsets and trading capacity to offer bespoke carbon offsetting and risk management solutions that complement Asuzero’s customers’ needs.
Commenting on the partnership, country manager of Asuzero Singapore, Masaaki Hamada said, "We are excited to collaborate with Pavilion Energy to advance net-zero initiatives and promote sustainable business practices between Japan and Singapore. This partnership will enable Asuzero customers to manage the carbon offsets they have purchased through our system, making it possible to visualise and reduce their CO2 emissions while supporting compensation of unavoidable emissions."