How Asia can transform into a hub for clean energy technology and investment
- As the region strives to reduce carbon emissions, countries must establish themselves as attractive destinations for developing sustainable solutions
- Collaborative efforts and supportive government policies are essential to creating a conducive environment for research and innovation in green energy
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The effects of climate change are being felt all over Asia. In April, the region experienced a record-breaking heatwave, with temperatures soaring past 40 degrees Celsius (104 Fahrenheit) across India, China and Southeast Asia. Thailand saw the heat index – what the temperature feels like when combined with relative humidity – hit 54 degrees in Bangkok.
Although hot weather is common in this part of the world, experts believe that the growing intensity of these heatwaves signals that the human-induced climate emergency has arrived in Asia. With that comes the pressing need to implement solutions such as reducing carbon emissions and transitioning to clean energy.
As home to several of the world’s fastest-growing economies, Asia will have a major role to play in the quest for sustainability, because energy demand increases in tandem with economic development.
“Asia constitutes 60 per cent of the global population and contributes to more than half of all greenhouse gas emissions,” said Datuk Bacho Pilong, senior vice-president of project delivery and technology for the Malaysian energy group Petronas. But he believes the region is positioning itself as an “axis of global growth” with the potential for alternative – and greener – types of development.
“Asia has what it takes to become the hub for talent, innovation, low-carbon investments and clean technology,” said Bacho, who spoke to the South China Morning Post from the inaugural Energy Asia conference that took place in June in Kuala Lumpur, Malaysia. “However, the key to achieving this is to rally all like-minded partners to work together to enhance Asia’s appeal as a sustainable energy hub. As an energy player operating in the heart of the region, Petronas wants to drive this essential discourse to advance collaborations and accelerate actions.”