Asia’s path to a greener future
Executive summary
Key findings: • Technologies that are driving significant gains in Europe or the Americas need to be adapted to the Asian market. For example, the majority of alternative protein products are tailored to suit Western preferences and are prohibitively costly for the more price-sensitive Asian market. Alternative proteins would likely see broader adoption and create more impact if adapted to specific market preferences and price conditions. • Decarbonisation efforts should aim to address emissions and waste across the entire lifecycle of production and use. Most of the hydrogen currently consumed is grey, which is produced from natural gas. The decarbonisation potential of hydrogen-powered vehicles will significantly increase with the use of renewable energy to produce hydrogen fuel. Likewise, using food waste for manufacturing textiles moves away from the current highly polluting linear model of production to a circular economy. • Developing supporting infrastructure can enhance technology development. The growth of technologies such as hydrogen vehicles and battery recycling is currently limited due to insufficient supporting infrastructure. Spurring hydrogen vehicle uptake depends on installing a network of refuelling stations and green hydrogen production plants. To diminish end-of-life impacts of batteries, well-designed and managed disposable and collection mechanisms are necessary. Implementing policies that support the development of necessary infrastructure will ensure a conducive environment for the growth and expansion of these technologies. • Addressing poor consumer sentiment will be key in scaling up technologies. Negative perceptions impede new technology adoption. In the case of alternative proteins, consumers can be deterred by concerns about taste and nutritional value.
Asia, home to vast engines of economic growth, is at the centre of the climate debate. In the past two decades, global carbon emissions from fossil fuel combustion have risen by 45%, primarily driven by Asia, for which this figure stood at 135%. 1 The region’s ongoing dependence on coal has driven its per-head carbon emissions to equal that of the global average. 2 Asia’s carbon emissions are likely to rise by 16% over the next decade. 3 Meanwhile, the effects of climate change are becoming more pronounced in parts of the region. In the past year, unprecedented floods in Pakistan wiped out a significant share of its crops; 4 India recorded its highest-ever temperatures, with meteorologists sounding the alarm for more to come this year; 5 and a severe heatwave in China exacerbated a drought that impacted food production and the power supply. 6 The continent is facing significant human and economic costs arising from intense greenhouse gas (GHG) emissions. Under pressure to set ambitious net zero targets and reduce emissions, technologies that enhance efficiencies and help industries decarbonise will be crucial pieces of the climate puzzle in Asia. Asia’s path to a greener future: Six technologies with decarbonising potential , sponsored by Eastspring Investments, explores promising innovations that can support the region’s journey to a cleaner, greener future. The report’s findings are intended to act as a springboard for discussions to support the development of technologies that have decarbonising potential and identify the roadblocks to their progress.
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