Vital role of energy infrastructure investment in Asia needed to reduce carbon emissions
Mar 27 2023
A recent report by ThomasLloyd, titled "Carbon Cost of GDP: how investment in Asia can deliver the energy transition," has highlighted the urgent need for investment in energy infrastructure in Asia. The report shows that while there has been a significant reduction in the global Carbon Cost of GDP since 1980, Asian countries continue to have a much higher Carbon Cost of GDP than the global average. In fact, eight Asian countries alone account for 45% of total global CO2 emissions.
With a population of 4.68 billion people, or 60% of the world's total, and rapidly growing energy consumption needs, Asia will play a crucial role in achieving a net-zero economy by 2050. However, the continent produces more than half of the world's CO2 emissions, making investment in climate infrastructure and renewable energy projects across Asia imperative to accelerate the energy transition and tackle climate change where it can be most impactful.
The report also highlights the significance of changing global demographics, with Asia accounting for almost 60% of the world's population and the life expectancy of the average citizen rising to 74 years.
Nick Parsons, Head of Research at ThomasLloyd, stated that "investment in Asian renewable energy is a vital step to achieving a Net Zero world by 2050." ThomasLloyd is committed to helping deliver the energy transition across Asia and identifying where progress has been made, and where further interventions and investment are required.
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