Last Updated on Thursday, 30 May, 2024 at 11:16 am by Andre Camilleri
GO capitalizing carbon neutrality for business growth
GO recently announced the strategic acquisition of 51% shareholding in AQS Med Ltd, a market leader in Malta’s renewable energy market with some of the largest installations on the island. “GO is reconfirming its resolve to not only be a leading player in the renewable energy sector but to play key role in making Malta green,” says NIKHIL PATIL, GO’s Chief Executive Officer
“Climate action is a subject widely tackled in boardrooms across the globe and one which I am particularly passionate about because the best legacy any company can leave is a world that is in better shape than when it started operating,” states Mr Patil
This culture was brought to GO by Mr Patil as soon as he was appointed CEO back in 2018 by challenging the management to take carbon neutrality to a higher business level.
“Six years down the line, at GO, we are now capitalizing carbon neutrality as part of our business growth strategy, but more importantly, bringing more positive impact on the community and the environment.”
The past few years saw GO become a veritable innovator of telecommunications, technology, and digital infrastructure, pushing boundaries in connectivity, introducing cutting-edge solutions, and reshaping the digital communication landscape.
“Our purpose is to drive a digital Malta where no one is left behind. But in the face of the climate challenges that we are all experiencing, we must ensure that our purpose is fulfilled through more sustainable operations. This realisation was the start of our journey to become a more sustainable company.”
“In terms of sustainability, our ambition goes beyond making GO green. We want to leverage our investments in technologies and our experience to help our clients achieve their sustainability targets. Of course, climate action is not just about reducing carbon footprint but also about every single business and personal decision we take, from the suppliers we select to the clothes and food we consume,” he continued.
GO’s first big step
“Our collective learning journey started internally by focusing on the mindset of our people to think green. Through our GO Academy, we hosted everyone at GO, even our Board Members to training programmes and initiatives on what everyone can do in their personal lives, as well as at work to bring change.”
“Through GO Green, our employees and stakeholders today also know that our national True Fibre project across the Maltese islands, of which over 85% is now complete, is also another green step forward as it is replacing the previous legacy copper network.”
“They also understand how our 5G network technology transfers data in a more energy-efficient manner and that by being a remote-first company allowing most of its workforce to work in hybrid mode, GO is contributing to less pollution through substantial reductions in everyday commuting.”
Science-based targets
GO’s ambitious targets project a decrease in the carbon footprint of 42% by 2030 and a further decrease of 90% by 2050, in line with the reductions required by the Paris Agreement.
“Our commitment to these targets is an ambitious one but individual action remains important as much as corporate action. Educating and informing our people is central to our approach,” added Nikhil.
A shift in investment strategy
GO recognised that to expedite its learning curve and increase its positive impact on the environment is by partnering with expert and experienced companies which are already making headwinds in the field of sustainability.
The first major step in this direction was an initial €1 million investment to acquire a majority shareholding in Sens Innovation Group Limited (SENS), an energy management company that serves large hotels and commercial clients in Malta, Europe, UK, the Seychelles, Mauritius, London and Dubai.
“SENS was already serving large hotels and commercial clients in Malta, Europe and the UK with the design and build of customised solutions for clients to improve their business operations and efficiencies. We realised that by being part of these solutions, GO too could contribute to the environmental responsibilities demanded by modern governance and legislation.”
“What was more exciting was that this first-of-its-kind acquisition bridged IoT technology and environmental sustainability – two areas that GO is very passionate about. By combining our technology innovation with SENS’s experience in IoT and green tech, we can realise our sustainability ambitions and help our customers do the same more easily.”
GO’s New Zero-Carbon Head Office
GO is now applying SENS’ solutions within the building of its new upcoming Head Office in Żejtun. Nikhil Patil described GO’s new €20 million zero-carbon headquarters as the company’s most ambitious initiative.
“It is pointless not practising what one preaches. What SENS is capable of delivering to hotels and commercial premises can equally be delivered at GO. And now we are making sure that GO’s new home will be one of the leading sustainable buildings on the island and an intrinsic part of our legacy towards a cleaner way of operating.”
GO’s new head Office will be fully equipped with energy-saving lighting, motion sensors, the use of secondary water stored in purposely built on-site reservoirs and photovoltaics to generate as much renewable energy as possible.
It so happened that this project also introduced GO to AQS Med Ltd in which earlier this year, GO acquired 51% shareholding, making the company GO’s latest investment in renewable energy.
“GO’s acquisition of AQS Med is an opportunity for the Group to grow in the energy vertical, allows us to leverage mutual strengths and networks to bring more value to our shareholders and customers and also supports our efforts towards helping Malta achieve its environmental targets,” adds Mr Patil.
“Most importantly, with the strength of the GO brand, we are building the clout to convince those, who as yet, might still be unconvinced,” concluded Nikhil Patil.
