MVGX Holdings, a Singapore-based green fintech group providing regulated financial services and end-to-end carbon Software-as-a-Service solutions for a more inclusive and sustainable future, announced the establishment of a new subsidiary, MVGX Tech, dedicated to Carbon SaaS products and services.
MVGX Tech’s selection of Carbon SaaS offerings, focusing on carbon measurement, reporting, and verification (“MRV”), decarbonisation rating, carbon credit development and issuance, carbon credit listing and registry, and carbon credit trading infrastructure, have been consolidated into the ‘Carbon Connect Suite’. The system will provide a holistic, end-to-end suite of products, software, and services, that enable corporations, governments, and institutions to meet their sustainability commitments.
Commenting on the formation of the subsidiary, Frank Zhang, the newly-appointed President of MVGX Tech, 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.”
MVGX Tech’s 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). The Carbon Connect Suite can also help companies to develop carbon credit projects and provide carbon credit issuance and listings services while also providing carbon credit registry and trading capabilities. Developed in partnership with globally-recognised ISO certification bodies, such as BSI and TÜV-SÜD, the Carbon Connect Suite ensures the utmost efficiency, rigour, and credibility in carbon calculation consistent with international standard requirements.
Additionally, the Carbon Connect Suite is distinguished by its technology which provides verifiable, high-integrity data as its foundation. This is enabled by MVGX Tech’s proprietary Non-Fungible Digital Twin (NFDT®) which provides an auditable, transparent trail of all transactions and associated data pertaining to carbon footprint and carbon credits.
Dr. Bo Bai, Executive Chairman and Co-Founder of MVGX, said: “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, I’m thrilled to have Frank leading the team during this exciting period of growth, especially as the demand for sustainability reporting solutions intensifies in the market.”