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Asia ex Japan: Navigating the Renewables Route

04-Apr-2024

Jimmy Chen

Analyst / Portfolio Manager

Adam Hakkou

Analyst / Portfolio Manager

The Beatles’ 1969 song ‘The Long & Winding Road’ may be the perfect anthem for a world that has long been seeking ways to address environmental protections and preservation. Public excitement about carbon neutrality seems to have waned since COP26, the 2021 United Nations’ summit on climate change, where many countries signed up to net-zero targets. The reality, though, is that renewables are becoming more prevalent, less pricey and more prominent – positioning many countries on a path towards steadily declining emissions.

GROWING PROLIFERATION OF RENEWABLES

Renewable technologies, and their potential for reducing carbon emissions, have had many false dawns before. Some see the public’s excitement in 2021 as another one. Especially since new coal power plants are still being opened in many parts of the emerging world, electric vehicle penetration is stagnating in Europe and the US and global CO2 emissions rose 1.1% in 2023  while global warming exceeded 1.5 degrees Celsius in 2023 – for the first time across an entire year.  

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