Summary
In the global push towards a green future, Asia emerges as a pivotal player, offering a unique combination of sustainability drivers.
1. Sustainability Race
Asia’s GREEN TECH GIANTS
Asia, led by China, is at the forefront of the global movement towards sustainable development, heavily investing in green technologies. The region accounts for approximately 70% of the $470bn global investment in clean energy technologies necessary to meet the 2030 Net Zero Emission Scenario demands.
2. Net Zero Compass
Aiming for a Just Transition to Net Zero in Asia
Asia and especially Southeast Asia face the dual challenge of transitioning to low-carbon economies and fostering inclusive growth, requiring innovative financing to support essential infrastructure and energy projects, and emphasizing the urgency of allocating resources towards sustainable development.
3. ETS and VCM development - market trading development in China and across Asia
Asia is making notable strides in carbon pricing with China's national ETS covering 4 billion tons of CO2, accounting for over 40% of the country's emissions. Additionally, the region is responding to the EU's Carbon Border Adjustment Mechanism (CBAM) by enhancing their carbon pricing mechanisms, highlighting a unified effort towards mitigating climate change despite varying progress rates among countries.