Transport Asia’s path to a greener future
Transport, including both passenger and freight, is responsible for 37% of all CO 2 emissions. 37 Among all mobility emissions, road transport alone accounts for about 75%. 38 This presents a major challenge for regions like Asia, where 44m people move to urban centres each year, doubling the number of vehicles every six years. 39 Aside from producing carbon emissions, transport drives poor air quality. 40 The top ten most polluted cities in the world with deteriorating air quality are all in Asia, and 80% of their air pollution can be attributed to transport. 41 Decarbonisation efforts are likely to involve replacing internal combustion engine (ICE) vehicles with those powered by electricity or hydrogen, which is a nascent but emerging technology. Rebecca Mikula-Wright, CEO of the Asia Investor Group on Climate Change, says “EV sales represented less than 10% of total vehicle sales [in 2019], however, auto companies have made strong commitments to an EV line-up and a shift away from ICE development in some markets. This signals opportunities for investment not just in low-carbon vehicles, but also in the enabling ecosystem; including chargers, and upgrades to the electricity grid.” In 2022, EVs accounted for about 14% of global passenger vehicle sales. 42
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