How alternative fuels can shape a net-zero future in Asia

GLOBALLY, the movement to decarbonise the energy sector is gaining momentum, with US$1.22 trillion of global government clean-energy initiatives committed in the last two years. Advanced economies account for some of the most ambitious programmes.

For one, the US’ Inflation Reduction Act (IRA) is by some measures the largest-ever single action of spending, with a strong climate focus – US$370 billion committed to support the production of clean-energy technologies such as carbon capture, solar panels and electric vehicles.

The IRA also provides clean-fuel tax credits to fund the development of alternative fuels such as sustainable aviation fuel (SAF), clean transportation fuels, biofuels and clean hydrogen.