Rise of GreenTech within Asia-Pacific
Did you know that in the last few years, APAC has already outperformed other regions of the world in renewable energy investment?
This probably comes as no surprise…APAC already accounts for more than half of the global energy consumption. It is evident they have a pressing need to focus on its sustainable energy transformation as quickly as possible.
This is likely to continue for the rest of the decade, with the demand for green technology growing at fast rates. The region is keen to integrate technologies in its developing countries such as China, Singapore India — whose economies include similiar characteristics of rising populations, strong economic growth and a current low penetration of renewables.
Within the APAC GreenTech market, China and India are the two biggest players. However, Japan’s recent renewable energy policy has made the country an exciting prospect for renewable energy projects, whereas Singapore is emerging as a key hub for Southeast Asia CleanTech funds.
The rise in private sector renewables growth is also deeply supported by governments in the region making various pledges for zero-carbon, green initiatives.
Public investments have risen in the development of new green energy technology businesses such as solar and wind, smart grids, green vehicles and green buildings.
Green startup investment activity is also expected to increase driven by advances in technology, financing and regulatory policies.
Consumers meanwhile, are paying more attention to the environmental credentials of the brands they consume, thus causing a virtuous cycle between the business to customer relationship.
As Asia continues to grow strongly, sustainable energy sources will become increasingly important for the region’s development. I am excited to share its journey with you, as I hope to be consistent with my blog for the remainder of 2022! Watch this space!