Asia Pacific ‘zero carbon cost’ to hit $3.5tn

Published onNovember 14, 2019

Asia Pacific’s decarbonisation bill could reach $3.5tn (€3.2tn) by 2040, according to new research by Wood Mackenzie, which totals investments in solar, wind, hydro and nuclear power, as well as green hydrogen production. Under Wood Mackenzie’s accelerated transition scenario, most of the region’s zero carbon expenditure will be in the power and transport sectors, as both accounted for over 50% of the region’s carbon emissions in 2018. This significant shift requires investment and support from all stakeholders especially China and India, stated the analyst outfit. Speaking at the inaugural Wood Mackenzie Energy and Commodity Summit Singapore, Asia Pacific markets and transitions head Prakash Sharma said: “In our base case, we forecast the share of zero-carbon energy increasing from 8% in 2018 to 17% in 2040.