Asia’s path to a greener future
Introduction
METHODOLOGY ---------------
Asia sits in the epicentre of the climate challenge. The latest Intergovernmental Panel on Climate Change (IPCC) report warns that risks such as dangerously high heat and humidity levels, along with rising seas and flooding, will beset the entire continent. 7 Climate events will cause massive damage to Asian infrastructure, supply chains, natural capital and labour capacity. Home to over 60% of the world’s population and most of the world’s megacities and manufacturing hubs, the region is also becoming a growing part of the climate problem. The proportion of global GHG emissions that it produces is, for the first time, nearly equal to its share of the world population. 8 Therefore, the region’s economic titans must play a significant role in slashing carbon emissions and accelerating the journey to net zero. A growing number of Asian countries have set net zero targets, but the level of commitment varies. According to the 2023 Net Zero Scorecard, eight Asian countries have either set their net zero carbon emissions targets in law or in policy documents, while another two have declared them. 9 Net zero targets are under discussion in several other countries. Accelerating the development and application of innovative decarbonisation technologies can help meet country targets and tackle the climate change crisis. This report explores six technologies that show considerable potential for reducing Asia’s carbon footprint, as well as improving sustainability and security in the region. As outlined in this paper, each technology has its own set of unique challenges.
An assessment model was developed for Asia’s path to a greener future: Six technologies with decarbonising potential . To determine which technologies were analysed in the first place, we identified the top three industries relevant to the specific challenges and ambitions of the region that also offer significant scope for emissions reductions. These are agriculture, transportation and the waste industries. A series of interviews with knowledgeable professionals and in- depth research—looking into new investments, innovations and policy direction—led us to refine the study to two technologies within each industry that are considered to have significant potential and are gaining traction among policymakers and the private sector. The research is based on a detailed literature review and several rounds of interviews with professionals knowledgeable in the field and technology. We have evaluated the potential of the six identified technologies based on 12 indicators that are categorised into three pillars: impact, scalability and funding. The impact pillar assesses the technology’s potential for reducing emissions as well as any additional benefits or harms it may cause to the environment or society. The scalability pillar assesses the current development and production capabilities for the technology in Asia, while considering consumer perception and existing policy support to enable it to scale. Lastly, the funding pillar provides a regional snapshot of the level of funding and the government’s financial support, such as subsidies and grants, that each technology has received or is currently getting. A detailed breakdown of the indicators and the technologies’ decarbonising potentials is provided in the appendix together with an accompanying workbook. Each technology is assessed on a scale of 0-4 and all indicators are weighted equally to provide an outcome which reflects the technology’s potential. A higher score indicates higher potential. To assess the scalability of the technology, evidence from seven countries that are representative of the region in terms of development levels, population and economic size was considered. These markets are China, India, Indonesia, Japan, Malaysia, Singapore and Vietnam. This is not a comparative analysis as we have considered each technology on its own merit.
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