As the world races to zero emissions, businesses are seeking to demonstrate their ESG commitment. M-Power Information, a digital transformation and ESG solutions provider, launches the “CarbonKeeper,” a carbon management platform to help businesses solve carbon issues and increase sustainable competitiveness.
Flexible data management with various kinds of reports
Having provided information integration service since its establishment in 1999, M-Power developed a financial consolidated report system in 2010, when the Financial Supervisory Commission started promoting the International Financial Reporting Standards (IFRS). Over the past decades, it has built a customer base of more than 300 companies across finance, manufacturing, and service industries.
To deepen customer relationship and share financial information, M-Power has organized the “Chief Financial Officer Gathering” for four consecutive years. This year, the event is expected to be joined by more than 300 attendees to discuss carbon reduction in sustainable finance disclosure and exchange ideas on how digital technology integrates carbon footprint.
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Prior to the initiation of the Sustainable Development Roadmap by the Financial Supervisory Commission in August, M-Power launched the first generation CarbonKeeper in June, offering information collection, calculation, integration, and verification functions, and allows users to produce reports for different standards with one carbon inventory. With the platform, users can customize calculation method, which significantly helps reduce information processing time. The platform also provides simulation model for carbon reduction, helping businesses implement carbon reduction to achieve sustainability goals.
Drivers behind the birth of CarbonKeeper
According to M-Power chairman Hsu Jing-long (許金隆), the company decided to form a R&D team on carbon management in early 2022 with the assistance from international experts in wake of Apple’s announcement of committing to achieve carbon neutral by 2030 in July 2020 and the EU’s introduction of the Carbon Border Adjustment Mechanism (CBAM) in July 2021, as the former’s decision will impact 30-40% of listed companies in Taiwan and the latter’s will put Taiwan, an export-oriented economy, at carbon risks.
To M-Power, being able to take the lead in the green business relies on its core competency – report integration service. As an expert in the field, M-Power’s carbon inventory software can analyze the carbon footprint calculation process and pain points of businesses comprehensively. Hsu pointed out that carbon inventory is a lot more complicated than regular financial report, as its calculation covers different sectors from manufacturing, materials, purchasing to employee activities in Scope 3, as well as emissions from affiliated businesses.
M-Power incorporates its report integration service to the CarbonKeeper system, optimizing data visualization and user experience, and provides languages in English, traditional and simplified Chinese to differentiate themselves from others.
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M-Power chairman Hsu Jing-long shares how CarbonKeeper improves carbon reduction efficiency
A platform that is rigorous yet flexible
Speaking of product features, Hsu believes that report sheet should be rigorous yet flexible and be able to produce reports on demand with a safe mechanism. According to Hsu, CarbonKeeper is one system for all industries, as the company developed the product based on ISO 14064 and GHG protocol to meet the needs from different industries instead of individual customers.
CarbonKeeper has evolved to its 2.2 version now. As CBAM requires exporters to the EU to submit emissions report by the end of January 2024, M-Power expects to complete its carbon footprint system by the first quarter of 2024. With growing carbon reduction demand from more than 500 carbon-intensive companies listed by the Ministry of Environment, nearly 2,000 listed companies, global brands and its supply chains, as well as exporters, M-Power believes that the product’s growth momentum is worth anticipating.
M-Power’s mission is to “provide customers with long-term and reliable competitiveness,” Hsu said. This means that M-Power itself has competitive edge. After the company went public in late 2022, M-Power expects to obtain more sources from the capital market. Its next step is to partner with local information service providers to expand to overseas markets, replicating the successful case of Taiwan in Southeast Asian countries, where it plans to collaborate with local businesses to help more companies complete digital transformation and achieve sustainable development.
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M-Power is dedicated to providing customers with long-term and reliable competitiveness