Energy transition in Developing Asia
Asia is the highest greenhouse gas emitter and has traditionally relied on fossil fuels to power its economic and population growth. In recent years, there has been a significant rise in renewable energy in the region, but we haven’t seen a clear trend that this is replacing fossil fuels.
- We travelled to Thailand, Hong Kong and China to engage with energy companies to understand how they view their role in the low-carbon energy future.
- We believe the private and public sectors must come together to set a more ambitious goal for the low-carbon energy transition.
- Specifically, we recommend that companies should align their business strategies and emission profiles to the Paris Agreement goal.
- Some companies are ambitious towards the energy transition, seeing it as an opportunity rather than a threat to their business model.
- However, some companies are only at the beginning of this journey – we’ll continue to engage with them.