While most Asian countries face heavy exposure to climate risks, greening efforts vary greatly across the region because of imbalances in wealth and how much countries rely on pollutive fossil fuels.
Given such challenges, state-owned enterprises will play an “outsized role” in decarbonisation, because their agendas straddle both economic and national interests, say executives at the Boston Consulting Group (BCG), which set up a sustainability office in Singapore last March. Many large government-owned businesses control key industrial verticals, such as oil extraction, infrastructure and electricity transmission, in Southeast Asia.
In an interview with Eco-Business, BCG experts discussed the challenges of scaling up nascent technology such as carbon capture and clean hydrogen fuel. The management consulting firm is helping the shipping industry to identify promising green technologies and analyse how the introduction of low-carbon fuels will change vessel refuelling locations globally, it shared.
Watch the video for more analysis of Asia’s climate trajectory, and how BCG is keeping up with evolving sustainability trends through its hiring and acquisition strategy.
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