In 2009, global investments in renewable energy power generation (US$140.00 billion) far exceeded that of fossil-fuelled power generation (US$110.00 billion).
New analysis from Frost & Sullivan (environmental.frost.com), Benchmarking Country Initiatives on Environment in Asia Pacific, finds that the global market value of traditional environmental goods and services, renewable energy and emerging low-carbon activities was estimated at US$7,770.00 billion in 2007-2008, with a growth potential of 45.0 percent by 2015.
With the rise in energy costs and escalating threat of global warming, many businesses are recognising that the use of green technology will help them reduce their carbon footprints and minimise waste.
"The number of green energy and climate-friendly projects is increasing rapidly in both the public and private sectors in the Asia Pacific," says Frost & Sullivan Consultant Chukiat Wongtaveerat. "Moreover, high-initiative countries have allocated substantial funds for green investment themes, which include boosting green infrastructure, using low-carbon and renewable power, ensuring energy efficiency, as well as controlling water usage and waste generation."
Over the last decade, many countries in the Asia Pacific have stepped up initiatives to preserve the environment. Japan, South Korea and Australia are at the forefront of this drive, while emerging economies such as China and India intend to sustain their current pace of public and private investment in all areas of the environment sector including renewable energy, waste management and green technologies.
China and India, with the highest emission intensity index of 1.51 and 1.17, respectively, have vast potential for improvements in the implementation of green practices. Stringent government policies as well as heavy investments in green energy will raise the level of commitment in the public and private sectors.
Emerging economies such as Indonesia and Vietnam tend to accord low priority to environmental issues due to their more pressing concerns regarding high poverty levels and weak governance systems. Thailand still lacks consistency in the development and resolution of environmental issues even though it was among the first Southeast Asian countries to promote an industrialisation policy based on fostering foreign investment.
Despite the lackadaisical performances of certain countries, the overall outlook for the environment industry is positive.
"Companies are realizing that replacing old technologies with modern, sustainable alternatives can simultaneously reduce operational costs, advance quality of life, generate green opportunities, and benefit the environment," notes Wongtaveerat. "Their significant investments in renewable energy technologies clearly indicate that clean energy is not merely hype and it will become an important investment theme in the years ahead."
If you are interested in more information on this study, please send an email to Donna Jeremiah, Corporate Communications, at djeremiah[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country.
Benchmarking Country Initiatives on Environment in Asia Pacific is part of the Environmental Growth Partnership Services program, which also includes research in the following markets: IFM Market in Hong Kong, Industrial Air Pollution Controls Market in South Korea, Residential Water Treatment Equipment Market in South Korea. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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Benchmarking Country Initiatives on Eznvironment in Asia Pacific / P4AD
Jessie Loh, Corporate Communications – Asia Pacific
P: +65 6890 0942 / F: +65 6890 0988 / E: jessie.loh[.]frost.com.