East Ventures signed the Memorandum of Understanding with KADIN Net Zero Hub and WRI Indonesia in advancing commitment towards net-zero targets
East Ventures, a pioneering sector-agnostic venture capital firm that has supported over 250 companies in Southeast Asia, today signed a Memorandum of Understanding with Indonesia Chamber of Commerce and Industry (KADIN) Net Zero Hub and World Resources Institute (WRI) Indonesia for the strategic partnership and collaboration in advancing commitment towards net-zero targets. The signing of this MoU was happening on 11 November 2022 at the East Ventures’ breakout session of the Indonesia Net Zero Summit 2022, a sideline event of B20 Indonesia.
“We are glad to collaborate with KADIN Net Zero Hub and WRI Indonesia in developing and ensuring the solutions towards climate change with the basis of technology to achieve net-zero targets. We believe this strategic partnership further strengthens our commitment towards net-zero targets and climate tech solutions investment,” said Avina Sugiarto, Partner at East Ventures
This MoU further strengthens the firm’s continuous commitment to invest in climate tech solutions and becomes the catalyst for more investment in climate solutions in Indonesia. East Ventures will closely work with WRI Indonesia, where the institute is leading as the expert in the sector knowledge and a founding member of the Science Based Target initiative (SBTi). WRI Indonesia will be a strategic advisor in recommending the right product/solutions for East Ventures and its ecosystem while ensuring the implementation of these products/solutions to maximize the positive impacts on society. KADIN Net Zero Hub, will oversee the overall partnership, bridging all parties in contributing toward an inclusive and sustainable future.
“In achieving the net-zero targets, it requires collaboration across the institution. We are glad to have East Ventures joining the ecosystem and to have a collaboration between KADIN Net Zero Hub and WRI Indonesia. We believe this initiative will path the way towards net-zero targets and a better future for our humankind,” said Muhammad Yusrizki, Head of KADIN Net Zero Hub.
“As a strong believer in Indonesia’s potential to become an international leader in efforts to achieve sustainability, we welcome and appreciate the collaboration between WRI Indonesia, East Ventures, and KADIN Net Zero Hub. We are confident and excited to work alongside East Ventures to implement the best solutions to empower its portfolio to have sustainable development,” said Arief Wijaya, Program Director of WRI Indonesia.
East Ventures is now also part of the KADIN Net Zero Hub, where the firm has committed to take up the mantle and commit to its net-zero pledge with the aim to become a net-zero company by 2060 at the latest. East Ventures will work closely with KADIN Net Zero Hub to uphold the same principles and pathways set by Science Based Target Initiatives (SBTi), which will serve as the guiding principles to ensure that all action plans are aligned with climate science.
Earlier this year, East Ventures became the first venture capital in Indonesia to sign the Principles of Responsible Investment (PRI), supported by the United Nations (UN). Moreover, East Ventures has launched its inaugural Sustainability Report which provides an applicable framework and guidelines towards a sustainable and inclusive future.