A new report from Bain & Company, Microsoft and Singapore’s Temasek Holdings found that-2 trillion is needed to build sustainable infrastructure in Southeast Asia over the next decade.
“Investments in areas such as renewable energy, electric vehicles and waste management are included,” said the report, entitled “Southeast Asia’s Green Economy: Net Opportunities for Zero.”
Last year, investors put only 9 9 billion into green business and assets, the report said. To achieve the trillion-dollar investment figure, the public, private and public sector sectors in the region need to work together to unleash the full potential of Southeast Asia.
Climate change is a serious concern for Southeast Asia because it experiences an inappropriate number of climate disasters and extreme weather events.
Although the fight against Covid-1 remains a top priority for most governments today, much of the focus in Southeast Asia last year focused on climate change and what the green economy includes, said Dale, co-director of Bain’s Global Sustainability Innovation. Center according to Hardcastle
On Wednesday, November 27, 2019, these aerial photos taken over the Penajam area of East Kalimantan, Borneo, Indonesia, cut a road through the date palm planting and rain forest.
Dimas Ardian | Bloomberg | Getty Images
“We’ve seen multiple green schemes launched in Singapore and other countries,” Hardcastle said Wednesday in CNBC’s “Street Sciences Asia” as part of the climate conference Ecosperity.
“We are beginning to see more efforts by governments to focus on co-operation in all regions, whether it is green finance or energy transformation or new initiatives to look at other issues,” he added.
The United Nations describes a so-called green economy where growth is driven by economic activity, investment in infrastructure and resources that allow carbon emissions and reduce pollution. The energy and resource efficiency of the green economy has also increased, and prevents damage to biodiversity and ecosystems.
The report found that about 0% of carbon emissions in Southeast Asia could be converted from fossil fuels to wind and solar energy sources, assess nature and make food production in the region more efficient.
Although agriculture is a major contributor to the Southeast Asian economy, it is a major source of carbon emissions, the report said. Countries need to engage with small farmers and encourage them to adopt more sustainable farming practices as a way to reduce carbon dioxide in the atmosphere.
If countries take action today, the region’s green economy could contribute about ১ 1 trillion in economic opportunities by 2030 and create about 5 million to 1 million new jobs.
Hardcastle told CNBC that many regional organizations and large companies in Southeast Asia are beginning to think about sustainability despite being slower than their US and European counterparts.
“They’re starting to think critically about how to start investing in the green economy – whether it’s out of interest to protect the businesses they have or to take more integrated action on climate change. It’s great to see things start to move,” he said.