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It’s easy to sink into despair when reading about the climate.
Unfortunately, there’s a lot of concerning environmental news that needs attention. Take it from someone tasked with writing this newsletter on a bi-monthly basis.
However, that doesn’t mean we can’t celebrate wins. Besides, it’s the beginning of a new year, and it would be great to start things on a positive note. So this month’s Deep Read highlights some climate victories humanity achieved in 2024, particularly those driven by tech.
— Peter
THE BIG STORY
Greentech to power ahead in 2025 even as tourist VCs check out
Image credit: Tech in Asia
New year, new me, and new investment trends for the greentech sector?
Tech in Asia’s predictions for Asia’s greentech space in the next 12 months include the departure of tourist VCs, more subsidies for electric vehicles, and a shift in battery tech.
DEEP READ
9 stories that prove not all hope is lost for climate progress
Image credit: Timmy Loen
The year 2024 set a new record as the hottest on the planet. On top of that and other extreme weather events, Donald Trump won a return to the Oval Office, promising to roll back pro-climate policies. Still, it wasn’t all bad news that year.
This piece dives into some of the most positive climate breakthroughs of 2024, and tech is at the heart of many of them.
Solar power is expanding rapidly, energy efficiency is on the rise, and tech is making it easier to keep people safe when climate disasters strike.
TRENDING NEWS
Also check out Tech in Asia’s coverage of Asia’s ecommerce scene here.
1️⃣ Hanoi declared world’s most polluted city, authorities seek action
Thick smog has shrouded Vietnam’s capital in recent weeks, sending it to the top of the list of the world’s most polluted cities. Deputy Prime Minister Tran Hong Ha called for an accelerated push toward EVs to address the issue, as per state media.
Why it matters:
Can EVs alone solve a problem that, in Hanoi’s case, has also been blamed on trash burning and industrial activities? Probably not.
But as I write this from a cafe overlooking a bustling Hanoi street filled with motorbikes and cars pumping fumes into the air, it feels like a start, at least.
2️⃣ Where the smart climate tech venture money is going in 2025
All signs point to a dramatic year ahead for climate tech investing, with President-elect Trump’s impending return to the White House, trade wars, and worsening extreme weather conditions preoccupying the sector. Here, Bloomberg predicts investment to flow to AI, national security plays, and growth-stage firms, while tech like green hydrogen looks to be on the outs.
Why it matters:
For money to keep flowing into climate solutions, even in what could be a down year for funding, it’s important that investors score some wins so they can recycle capital.
3️⃣ Tech groups to pay premium for energy for Malaysia data centers, says minister
Nik Nazmi Nik Ahmad, Malaysia’s minister of natural resources and environmental sustainability, wants global tech firms to pay a premium for the energy and water they use at the country’s data centers. Malaysia has attracted billions of dollars in investment commitments from the world’s biggest tech companies to build data centers in recent years.
Image credit: Timmy Loen
Why it matters:
Data centers require a lot of water and power to run safely, putting them in the crosshairs of environmentalists. If the extra money generated from increasing the rates for tech firms is used to protect the environment, this policy could gain popularity and spread beyond Malaysia.
4️⃣ China proposes fresh export curbs on EV technology
Much of the tech needed to extract minerals key to the EV industry is made in China, and it’s about to get harder for the rest of the world to get hold of. The move seems to be the latest salvo in the ongoing trade war with the US.
Why it matters:
Nations across the world have put a lot of their climate eggs in the EV basket. Export curbs like this could hurt sustainability efforts far beyond China’s borders.
5️⃣ TikTok’s annual carbon footprint is likely bigger than Greece’s, study finds
The social media firm’s greenhouse gas emissions probably top those of Greece, according to a new study. The platform’s carbon footprint comes primarily from its data centers powering content for its 1 billion users, who spend an average of 45.5 minutes on the app per day. The study found that each minute of TikTok usage generates nearly 3 grams of CO2 emissions.
Why it matters:
It seems ludicrous that an app largely used to record and share dance videos is possibly doing more harm to the planet than a nation of 10 million people. Where do our priorities lie?
STARTUP WATCH
1️⃣ Indian energy tech startup raises $6.2m series A
Emo Energy has scored US$6.2 million in a series A round led by Subhkam Ventures, with participation from Transition VC. The startup provides EV energy solutions.
2️⃣ Electric taxi Xanh SM launches in Jakarta with free rides
The Vietnamese firm has expanded its operations into Indonesia’s capital, where taxis are exempt from the city’s odd-even traffic rule. The company was founded by billionaire Phạm Nhat Vuong, who also established EV manufacturer VinFast.
Photo credit: Xanh SM
3️⃣ Indian rooftop solar startup raises $2.3m
ZunRoof has locked up US$2.3 million in a funding round led by the Godrej Family Office and ANBG Enterprise LLP. The firm plans to use the money to boost its solar rooftop design, installation, and IoT-powered energy monitoring services.
4️⃣ Flint secures $2m seed funding to advance sustainable paper battery technology
The Singapore-based deeptech company has raised US$2 million in a funding round led by a group of international angel investors and AI-driven VC firm Hatcher+. The startup makes cellulose-based paper batteries, which are said to be more sustainable than traditional alternatives.
5️⃣Agritech firm ‘enfarm’ secures seed funding
The company has secured an undisclosed amount in a seed funding round led by Touchstone Partners, with participation from Aiviet Venture and Conservation Vietnam. The tech solutions provided by the startup help farmers tackle inefficient fertilizer use, boosting their yields and reducing greenhouse gas emissions.
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Editing by Collin Furtado and Mina Deocareza
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