October 22, 2012
Impact Investment Exchange Asia (IIX) and the Sustainable Energy Association of Singapore (SEAS) signed today a Memorandum of Understanding (MOU) solidifying joint efforts to promote the Social Enterprise (SE) space among the sustainable energy sector. This is a significant step forward in continuing both organizations’ goals of creating more inclusive energy access to the millions currently in Asia without dependable sustainable energy options.
In Asia today, over 700 million people are still without access to electricity and almost two billion people still burn wood, dung, and crop waste to cook and heat their homes. With energy demand projected to double by 2030 in Asia Pacific, much of it driven by developing economies, the time is now in advocating innovative and clean energy solutions that are reliable, accessible and affordable. IIX believes that SEs – innovative organizations that employ market-based solutions to address social and environmental challenges—are part of the solution.
The MOU between IIX and SEAS covers two major components: mutual advocacy and greater knowledge integration. IIX and SEAS will work together to mutually promote one another’s work to its main constituency bases: SEs and organizations active in the sustainable energy sector, respectively. In addition, IIX and SEAS will refer qualifying enterprises to one another. This is a concerted effort to pool more resources and actors with common goals towards finding innovative and effective solutions to a more sustainable and energy-efficient Asia.
The MOU will also encourage greater knowledge sharing between the two parties through various capacity-building workshops, enabling sustainable energy enterprises to showcase its positive social and environmental effects to investors. “There is a big role for IIX and SEAS to play in emphasizing a renewable energy company’s positive social and environmental impact just as prominently as its financial returns. Our combined efforts will bring to the forefront these companies’ contribution to a more energy-efficient and green Asia,” shares Mr. Robert Kraybill, Managing Director of IIX.
In the effort to create immediate traction, IIX and SEAS look forward to collaborating on a series of outreach events in the coming year to drive more knowledge within the sustainable energy community about the power of SEs in providing energy solutions for the poor and underserved as well as champion the role members of the energy sector can play in the socio-environmental development of the communities they work in.
SEAS, which provides a common platform for companies in the Renewable Energy, Energy Efficiency, Carbon Trading, and Clean Development sectors, is well poised to promote the concept of Social Entrepreneurship to the clean energy sector and to encourage more companies to emphasize their social and environmental impact. “This collaborative relationship with IIX will not only further SEAS involvements to support energy access regionally but also be complemented by the support received from the Energy for All Partnership programme co-Chaired by the Asian Development Bank and SEAS to target electrification of 100 million new connects and capacity building for entrepreneurs in Asia. We, along with our regional strategic partners, look forward to working with IIX to address the issues of energy poverty alleviation through this new found collaboration” said Mr. Edwin Khew, Chairman of SEAS.
IIX is revolutionizing the way the world looks at sustainable economic development in Asia through the creation of social capital markets. It is creating the platforms, products and ecosystem development to connect socially and environmentally mission-driven enterprises with impact investors. IIX operates Impact Partners, Asia’s first private placement platform dedicates to investments for social enterprises. IIX will launch its public investment platform, Impact Exchange in Winter 2012.
The Sustainable Energy Association of Singapore (SEAS), represents the interests and provides a common platform for companies in Renewable Energy, Energy Efficiency, Carbon Development and Trading, and Financial Institutions to meet, discuss, collaborate and undertake viable projects together. The Association extends its focus to include Capacity Building, Technology Strengthening and Market Intelligence assisting its members in achieving Sustainable Growth locally and regionally via enterprise development, market development, training and learning platforms.
SEAS plays a strategic role in aiding the realisation of Singapore’s vision, to be a Global Clean Energy Hub where products and innovative solutions are developed, adopted and exported. SEAS has also built strategic relations with regional clean energy industry organisations, multilaterals and key government institutions enabling collaboration opportunities for its members.
For a pdf copy of the press release, please click here.
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