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| • | Fuel focused. The war in Ukraine is driving Europe to bolster its plans for alternative sources of energy, which may benefit China’s clean-energy companies. To transition from fossil fuels to clean energy, Europe expects to install 900 additional gigawatts of wind and solar power by 2030, an almost twofold increase from its initial plans. These efforts place manufacturers in China—where most of the parts for global solar equipment are produced—in a prime position to benefit from the increased demand. [Bloomberg] | | | | • | Room for improvement. Although Asia–Pacific’s progress toward sustainability has some “bright spots,” such as the expansion of green and affordable energy, many Asian nations appear to be lagging behind other parts of the globe on sustainability efforts. “Without acceleration, this region is not set to achieve any of the sustainable development goals by 2030,” a UN official says. The COVID-19 crisis has set back progress in areas like sustainable production and climate action by 30 to 40 years, which is particularly troubling given the region’s exposure to climate change. [CNBC] | | | | • | Eyes on the net-zero prize. More than 130 countries are working toward carbon neutrality, and consumers are noticing brands’ sustainability efforts. The myriad materials and equipment required to meet net-zero targets create opportunities for energy players worldwide. Since 2018, the number of investment deals involving green start-ups rose by 67%, with start-ups linked to sustainability attracting $2 billion in investments worldwide. Europe and North America currently lead in terms of investment size, but Asia is quickly catching up. | | | | • | Green investment doubles in Asia. Led by electric vehicles and renewable energy, investment activities in green energy and related industries doubled over the past ten years in Asia. Investors there have the chance to capitalize on declining costs for renewable technologies, which have dipped 90% in the past decade. See our analysis of the best paths to growing green businesses in Asia, in addition to five technologies that are advancing fast. | | | | — Edited by Sarah Thuerk | | This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. | | You received this email because you subscribed to the On Point newsletter. | | | | Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007 | | | |
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