JULY-AUGUST , 2023 | @ green
COVER STORY
09
Four priority actions can deliver commitments and impact
capital and expertise to fully develop opportunities in nature , technology , and carbon markets . This will help advance the regional transition to a net zero economy .
The green economy in Southeast Asia could create several economic opportunities . Between five and six million green jobs in areas of planning , construction , operations , and maintenance of clean energy infrastructure as well as manufacturing , could be created in the decade ending 2030 , a result of sustainability investments in ASEAN-6 , i . e ., Indonesia , Malaysia , Philippines , Singapore , Thailand , and Vietnam .
Taking collective action could result in up to US $ 2 trillion of new investments to meet NDC targets in Southeast Asia . The region could be poised for revenue driven from renewables exports by deploying cleaner energy sources and low-carbon materials to meet growing customer demand for greener goods .
Green business operations carried out in rural and suburban areas could also help provide better livelihoods and knowledge transfer to local communities while developing the local economy .
“ Cloud technology can offer the innovation prowess needed to develop sustainability solutions to help SEA meet its ambitious climate goals ,” said Ken Haig , Head of Energy and Environmental Policy , Asia Pacific and Japan , Amazon Web Services .
“ From climate impact reporting , and air quality monitoring , to the optimisation of renewable energy resources and adapting agricultural practices to changing climates – so much has been done and is still possible with the cloud .
“ Organisations in the region that move IT workloads from on-premises data centres to the cloud can lower their carbon footprint by nearly 80 per cent due to the highly energy efficient cloud data centres .
“ Easier access to emerging technologies such as data analytics , artificial intelligence , and machine learning through the cloud will play an important role in helping SEA accelerate its sustainability transition .”
In the near term , the region could focus on proven solutions that have both high carbons abatement potential and can be implemented in a short timeframe for maximum decarbonisation impact , notably :
• Lay the foundation with grid upgrades ,
Improved collaboration between corporates and governments will unlock action
Taking action will alter SEA ’ s trajectory and allow it to meet economic and climate goals
energy efficiency and conservation measures .
• Pilot financial innovation e . g ., new incentives for NBS project development , mechanisms for managed coal phaseout , and blended financing .
• Enforce existing nature conservation policies and promote carbon markets . Longer term , economies should consider initiatives to invest in today , but not at the expense of proven actions . Some of these solutions will deliver the highest impact post-2030 when commercial viability increases , such as regional power grid infrastructure , NBS and carbon services workforce development , hydrogen and derivatives as energy sources , carbon capture , utilisation and storage across all sectors .
Governments could develop clear transition roadmaps , accelerate infrastructure development , unlock incentives , and enforce regulations to catalyse momentum . Corporations must move beyond setting climate ambitions to set clear roadmaps and scale their emission reduction activities .
And finally , investors should facilitate more blended financing and assess existing fossil fuel assets while investing in enabling tech and human capital .
Ultimately , stakeholders across the public and private sectors must collaborate for Southeast Asia to meet its economic and climate goals . – @ Green