Climate technology (or clean tech) has been around for a while. In its nascent stages of development, many companies have integrated this science into the mission of a sustainable and cleaner Earth. These advancements which involve solar energy, wind power, carbon capture, and smart grid technologies are aimed at creating a low-carbon economy and a cleaner future with reduced carbon emissions. By harnessing the power of clean technology, we can collectively address the many challenges posed by climate change and work towards a safer and cleaner environment.
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3 Climate Technology Developments in Asia
1. Carbon Markets and Credits
Carbon markets have been gaining traction over the last few years with the prime goal of many businesses centred on a healthy and sustainable environment. Such markets comprise businesses and organisations that buy, sell, and trade carbon credits and enable carbon offsets in their business models. One carbon offset – or carbon credit – is basically equivalent to one tonne of greenhouse gas reduced, sequestered, or removed from the atmosphere.
In the fight against climate change, such carbon markets are beneficial even for companies and organisations as they enable them to reduce their carbon footprint while improving and conserving biodiversity through emission-reductions projects.
Fairatmos, an Indonesian green-tech startup introduced the country’s first carbon technology platform, which enables communities to develop carbon sequestration projects for companies to finance and create carbon offsets through curated projects. With the aim to democratise carbon markets, the startup helps project developers verify carbon credits, develop carbon-reduction-based projects, and contribute to improving the livelihoods of smallholder communities through additional income from carbon credits.
Unravel Carbon, a Singapore startup and Asia’s first AI-powered decarbonisation platform has also been leading Singapore in helping organisations measure, report and reduce their carbon emissions. Their services range from providing businesses with a software-as-a-service decarbonisation platform, access and network channels to sustainability experts, and multiple pathways to achieving reduction targets (net-zero targets).
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2. Renewable Energy
Decarbonisation strategies and transition to cleaner energy sources have been a growing and widely discussed topic in the last few years.
ReNew, one of India’s largest renewable energy companies, has been responsible for some of the large-scale projects in the country in recent years. As a vital player in the market, the firm has a portfolio of wind, solar and hydro projects across several states. One of their most significant projects was the 300 MW wind farm commissioned in the state of Gujarat, which would provide neighbouring states Haryana and Orissa with clean energy at a rate of Rs. 2.44 per unit (US$0.03) and add more than 200 jobs.
Another major project was the solar project in Karnataka with a capacity of 250 MW. In addition to clean energy projects, the firm also continues to make strong contributions to corporate social responsibility initiatives. Noteworthy mentions include the Lighting Lives programme, which provides “last-mile” electrification of schools and the creation of digital labs for the education of communities in rural areas, and the ReNew Women India Initiative, which aims to include women in entrepreneurial and capacity-building projects in the region.
In Singapore, BlueSG, a sustainable transportation company, has been making waves in recent years and has received much praise for changing the transportation dynamic. This company provides electric car-sharing services to the public and has proven to not only be eco-friendly but also budget-friendly. The company offers a subscription-based model which allows users to rent cars at affordable prices. Drivers can pick up and drop off the cars at designated parking spaces across the country, making it a convenient option for people who wish to avoid the hassle of car ownership. The company also instituted the BlueSG Academy, which trains users on the importance of sustainable transportation and green tech initiatives. While electric vehicles have certainly made the news in the last decade or so, BlueSG has taken a step further to revolutionise the transition to a greener and cleaner environment.
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3. Waste Management
Waste management is a key aspect of discussions to reverse climate change and facilitate the clean energy transition. Reusing waste can help significantly reduce our carbon footprint and lead to a sustainable future in the long run.
In Indonesia, Rebricks made it a pledge to become a pioneer in the sustainable construction industry. The company has cemented itself as one of the leaders in climate tech innovators. Specialising in the production of eco-friendly materials, Rebricks produces a range of construction materials such as paving blocks, roofing materials, decorative stones, and wall cladding. What makes them unique, is that all these products come from recycled waste such as plastic and debris from construction activities. In their commitment to sustainability, Rebricks has also implemented other sustainable practices such as water conservation by closely working with suppliers and customers to promote sustainable practices in the supply chain.
Another Singapore-based company, WasteX, aims to circularise agriculture and industrial waste by transforming biomass into high-quality products. Their value proposition has been to improve the economic value of waste and provide solutions for agricultural producers to address issues related to livestock and farm waste. For example, they have small-scale biochar carboniser that converts crop residue into biochar fertiliser. This not only allows farmers to reap the cost benefits but also enables them to take part in reducing their carbon footprint.
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Takeaways
While climate technology and innovation are on the rise, education, and knowledge about science are also crucial moving forward. There are no boundaries when it comes to fighting climate change and any new solution to the crisis should be cross-border in nature, benefitting societies as a whole.
While certain roadblocks such as lack of funding and disproportionate government policies exist in South Asia, there are certainly visible signs that a green transition is on the horizon.
Even with a nascent carbon market, climate startups and other bodies like NGOs have been contributing greatly to the cause, and ultimately, more people are becoming aware of the climate crisis that is continually impacting our globe. In sum, investing in climate solutions remains crucial, and with increased support from governmental bodies and coordination among stakeholders, there is a certainty that a streamlined transition to a green Earth is possible in the long term.
