Cleantech gains momentum in building a more sustainable world

ONCE hyped, then denounced, and today a renaissance. Cleantech - as a term describing clean technology innovations across many industry sectors - is becoming an integral part of daily life. The cleantech industry is in good shape in Asia-Pacific. Renewable energy consumption continues to reduce fossil fuel and plays an increasingly important part in energy security. Economic giants India and China are expanding clean technology investments. The REN21 Renewables 2014 Global Status Report shows how China is reinforcing its position as the top investor in renewable energy; India is estimated to invest US$100 billion in renewable energy by 2019.

Closer home, Asean is experiencing record levels of cleantech investments, spurred by a growing middle class, the needs arising from increasing urbanisation, and the wish for a cleaner environment. The Asean Plan for Action for Energy Cooperation (APAEC) reflects this emphasis on sustainability, aiming to raise the proportion of renewable energy used in Asean to 15 per cent by 2015.

Since 2007, the Singapore government has recognised the important roles of sustainability and clean technology investments for Singapore's economy. Today, Singapore is developing the cleantech sector in a big way and projects that this industry will contribute S$3.4 billion to the country's GDP and 18,000 jobs by 2015.