In the search for a more sustainable future, businesses are increasingly realigning their business activities to environmental, social, and governance (ESG) practices, as this has become a concern and more pressing.
The three elements of ESG are indivisible. Thus, implementing systematic business activities alongside technological innovation according to ESG must be on everybody’s mind.
Sirim Tech Venture Sdn Bhd (STV), a wholly owned subsidiary of Sirim Bhd, is in this movement’s vanguard and aligned with Sirim Group’s emphasis on ESG-related direction company-wide.
STV has made a courageous move to adapt ESG into its technology commercialisation business activities by value-adding its novel Intellectual Property Intelligence Solutions (IPIS).
IPIS is essential to protect technological innovation, patents, trademarks or copyrights.
Since the beginning of 2023, STV, well-known for its expertise in commercialising technologies, has added IPIS to its stable and pledges to serve industries that require IP-related services as innovation towards complying with ESG, which is one of the pivotal factors in sustainability.
STV’s chief executive officer Ajmain Kasim said the company planned to grab the market’s interest in ESG with an innovative rebranding effort, expand its client base, and offer excellent services to its present and new customers.
“IPIS adds significant value to commercialising technologies and realigning business focus towards ESG compliances,” said Ajmain.
“This mutually-beneficial interaction between technology and environmental responsibility is expected to open up new doors of opportunity for our customers as well as the ecosystem as a whole.”
IP assets and their protection are potential revenue-generating items for technological investment in complying with ESG, where this is a future practice that is already underway in European and American businesses.
The foundation of STV’s commitment to stewardship IPIS in tackling the ESG issues is a rock-solid commitment to environmental responsibility. STV recognises that businesses play a critical role in protecting the earth, and as a result, the company incorporates environmentally responsible business practices into every facet of its operations.
“Our IPIS addresses significant developmental needs in resolving environmental issues such as waste and pollution, the depletion of resources, emissions of greenhouse gases, the destruction of forests, and climate change,” said Ajmain.
STV’s IPIS assists organisations in protecting their invention, and technology solutions, lowering their exposure to risk, maximising their positive social effects, and cultivating responsible business practices that benefit both their employees and society.
ESG practices go beyond environmental worries and include social responsibility and effective governance. STV is committed to fostering an inclusive environment and ethical business practices by actively interacting with its workforce, customers, suppliers, and the communities in which it operates.
“For example, STV promotes an environmentally friendly and sustainable future by utilising effective waste management methods such as the Anaerobic Digester and transforming waste into valuable resources,” added Ajmain.
The Anaerobic Digester System that STV advocates completely changed how to manage organic waste, resulting in a cleaner environment and more effective waste practices.
Besides providing quality services to clients, STV is aware that effective governance is essential to ethical business practices and recognises its importance.
Within its organisation, STV abides by strong governance rules to guarantee that its operations are transparent and accountable.
Ajmain said that by emphasising workplace diversity, equitable working conditions, and its staff’s overall health and happiness, STV could foster an atmosphere conducive to productivity and economic growth.
“We use accounting practices that are accurate and transparent, they give diversity in leadership roles a high priority, they steer clear of conflicts of interest, and they comply with all legal and regulatory requirements.”
STV earned the confidence of its stakeholders by exemplifying principles of good governance and demonstrating an unshakable commitment to openness and responsible decision-making.
The unshakable commitment to ESG that STV has is made clear by the company’s strategic emphasis on providing technological solutions that align with sustainability standards. Their Tech Docket is a virtual briefcase containing reviewed technologies beyond Technology Readiness Level (TRL) 6.
These technologies include the Anaerobic Digester System, Portable Procedure Stations, Composite Cylinder, and bioprocessing natural resources into safe cosmetics.
The influence of STV extends far beyond its mission and the services it provides. Their achievements can motivate others to achieve their levels of success.
For instance, through its partnership with the UTHM Living Lab and the technological partner Cahaya Mata Alam Sdn Bhd, they were able to address the problem of waste generated from paddy straw using cutting-edge composite technology.
“This programme helped reduce the adverse effects on the environment, improved the quality of life in the surrounding communities, increased the autonomy of local farmers, and encouraged the product expansion of the furniture manufacturing business.”
STV has emerged as a catalyst for positive change due to the seamless integration of environmental, social, and governance factors into its business operations.
STV demonstrates the incredible power of ESG-aligned business models in creating a better future for all people by showing their dedication to innovation, responsible governance, and transformational technology. – @Green
