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To meet carbon reduction targets in APAC, some industries need to transform quicker than others.
Fossil-based power production, transport (including land, aviation and shipping) and the built environment are the usual suspects, but as you start to zoom in, sectors such as mining, manufacturing, and agribusinesses are also heavy emitters. Decarbonization for these sectors globally remains challenging, but within APAC, insufficient renewable energy installed capacity, complex policy landscapes and different levels of economic development make the case for rapid change harder.
There are also newer sectors, such as technology. Data centers (DC) are growing at a rapid pace and APAC is expected to become the fastest-growing location over the next five years. With this shift, energy requirements are expected to rise, and the carbon footprint will increase accordingly. In 2019, Singapore placed a moratorium on building new DCs but decided to lift it earlier in 2022 with new guidelines on building best-in-class DCs in terms of resource efficiency, which can contribute to the country’s economic and strategic objectives. This has propelled DC players in the region to transform and be innovative.
