East Ventures, a sector-agnostic venture capital firm in Indonesia, has signed a memorandum of understanding with the 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.

In a statement on Tuesday, East Ventures said this MoU further strengthens the firm’s continuous commitment to invest in climate tech solutions across various subsectors, including sustainable food and agriculture, renewable energy, electric mobility, circular economy and carbon ecosystem.

It said 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 initiatives (SBTi).

WRI Indonesia will be a strategic advisor in recommending products/solutions through knowledge transfer and 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, including business groups, in contributing toward an inclusive and sustainable future.

“We are glad to collaborate with KADIN Net Zero Hub and WRI Indonesia in investing and supporting climate technology solutions to help businesses and governments achieve net zero targets,

“We believe this strategic partnership further strengthens our commitment to drive investments in high potential and scalable climate tech solutions and becomes the catalyst for more investment in climate solutions in Indonesia and Southeast Asia,” East Ventures Partner Avina Sugiarto said.

The signing of this MoU was happening on November 11 at the East Ventures’ breakout session of the Indonesia Net Zero Summit 2022, a sideline event of B20 Indonesia.

“In achieving the net zero targets, 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.

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.

“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

Earlier this year, East Ventures became the first venture capital in Indonesia to sign the Principles for 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.

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