Weaning Asia off carbon will require some $26trn-37trn in investment between now and 2050, estimates the Asia Investor Group on Climate Change
Save time by listening to our audio articles as you multitaskThe power cut that plunged her building into darkness on October 4th did the same to most of Bangladesh: four-fifths of the country’s 165m people lost electricity for seven hours. Factories ground to a halt. Pumps in tenements ceased to work, depriving residents of water. The grid failure was an extreme symptom of an electricity shortage caused by geopolitics.
It is a formidable challenge. Energy demand for the ten members of the Association of South-East Asian Nations is projected to increase by about a third of the’s current total by 2050. India alone will probably need additional capacity equivalent to that of today’sby 2040. Ideally, much of that extra demand will be met by renewables. Yet fossil fuels continue to dominate the energy mix across the region . Their dominance is entrenched through subsidies or political favouritism.
As for new sources of energy, hopes are rising for “green” hydrogen—made from splitting water using renewable energy. Hydrogen is abundant, clean and energy-dense, but both the technology and the infrastructure are untested at scale. Plans are nevertheless ambitious.
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