Fairatmos and Arnold Sebastian Egg, partner of Wright Partners during signing ceremony. (BP/Document of Wright Partners)
JAKARTA, BALIPOST.com – Wright Partners — a corporate venture builder in Southeast Asia — and Fairatmos, the first and largest climate tech venture in Indonesia, have announced a new partnership aimed at creating ten innovative new businesses over the next three years that will help address some of the biggest environmental challenges facing the region. This partnership brings together two organizations with complementary skills and expertise.
Wright Partners has a proven track record of building successful ventures across agritech, edutech, logistics, and fintech with a range of corporate partners and family offices, while Fairatmos has unparalleled knowledge and experience in the area of carbon reduction and other types of sustainability initiatives (e.g., plastic and recycling). “We are excited to partner with Fairatmos to tackle some of the most pressing environmental challenges facing Indonesia and the wider Southeast Asian region. Together, we hope to help our corporate partners and other institutions to better understand their emissions and build new sustainable businesses which not only reduce their own emissions, but also help other businesses create value by being more sustainable,” said Ziv Ragowsky, Founding Partner at Wright Partners according to the release received.
“By combining our expertise and resources, we believe we can create innovative new ventures that will make a real difference in the fight against climate change.”
Indonesia is one of the world’s largest emitters of greenhouse gases, with much of that coming from deforestation and other land-use changes. However, Indonesia is taking big steps in addressing this both from the public sector and the private sector.
Indonesia has a Nationally Determined Contribution (NDC) target to reduce greenhouse gas emissions by 32%-43% by 2030. From the AFOLU (agriculture, forestry, and other land uses) sector alone, there is a target to reduce greenhouse gas (GHG) emissions by 510-740 million tons of CO2e compared to the baseline scenario. There is also significant sustainability interest in many Indonesian companies across different sectors. However, as most have been focused on Scope 1,2 and 3 GHG emission reductions, many see sustainability as a cost sink instead of a generational opportunity for new revenues and we hope to change that.
This opportunity perspective is defined as the less well known Scope 4, as reductions that occur as a result of the use of a product, outside that product’s life cycle or value chain. In other words, avoiding emissions through more efficient products (goods and services) replacing less efficient alternatives. Numerous Scope 4 opportunities exist for companies across different verticals, from telcos supporting better IoT for measurement, to banks providing financing for green CAPEX.
The initial focus will be ventures related to carbon reduction in Indonesia. The momentum should enable further business building and establish Indonesia at the forefront of the green revolution.
Wright Partners and Fairatmos are already working on ways to incorporate Fairatmos into Wright Partners ventures – especially for verification and trading opportunities for carbon and other green credits.
By using Fairatmos’ AtmosCheck service, it is easy to check the conditions of areas Wright Partners is working in using their remote sensing technologies. For example, both parties are working together on methodologies to identify carbon emission reductions and decarbonization of remote logistics for Titip, a corporate venture Wright Partners recently launched.
This allows Titip — a commodity logistics venture — to enable user of logistics services to easily calculate, report, and offset carbon generated in each transaction.
For other ventures, Wright Partners and Fairatmos are working to identify various ways to support sustainability across different verticals and pollution causing elements. Separately, both Wright Partners and Fairatmos have also been actively working on sustainability in Indonesia and the region.
Fairatmos is working on reducing the carbon footprint of the agricultural sector by introducing a drip irrigation system. Wright Partner’s venture, Labamu is looking to provide financing to plastic collectors, some of the weakest members of Indonesia society who do crucial work.
Additionally, Wright Partner’s Farming as a Service venture is exploring methods to provide more value to farmers for low carbon rice — where many of the existing options look to keep the majority of the benefit for themselves, instead of supporting farming communities. Wright Partners and Fairatmos aim to support the Indonesian government in achieving the NDC target through more initiatives like this through their partnership.
These initiatives are born as a result of our partnership between Wright Partners and Fairatmos. Indonesia has many problems to solve, which provides ample opportunity for venture building in the space, from using forests to combat carbon emissions, reforesting degraded areas, preventing plastic pollution and others, which all offer opportunities for us to collectively tackle through Fairatmos’ expertise and Wright Partners’ venture building.
“We believe that by working together, we can create a carbon-neutral economy as a reality,” said Natalia Rialucky, Co-founder of Fairatmos.
“As how the steam engine ignited the industrial revolution, AtmosTech will mark the start of our carbon-neutral reality. Through our partnership with Wright Partners, we simplify carbon reduction for companies.”
The partnership also aims to work with local organizations and stakeholders to ensure that its sustainability initiatives are impactful and sustainable. “Wright Partners works extensively with local organizations across our ventures to ensure that we create long lasting sustainable solutions. As such we work with local village heads with our farming ventures and community heads for other ventures. Fairatmos is always there to make sure we impact local organizations and solve the right environmental problems,” said Ziv.
“At Fairatmos we strive to always give back to the community. Leveraging technology, we can foster the development of a carbon neutral reality that not only benefits the environment, but also the local communities,” Ria from Fairatmos added.
In addition to Fairatmos, Wright Partners has also been working with Microsoft to use their products to drive sustainability in Wright Partners ventures. Wright Partners has an ongoing partnership with Microsoft to leverage their sustainability cloud solution. Both parties are committed to sustainability and continue to seek additional avenues to embed sustainability to ventures.
Overall, the partnership between Wright Partners and Fairatmos and Wright Partners and Microsoft represent a significant step forward in the fight against climate change and other environmental challenges facing Indonesia and the wider Southeast Asian region. By combining their respective skills and expertise, the organizations hope to create innovative new ventures that will help to build a more sustainable future for all.
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