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Bad news: The US is keeping firm with its stance to steer away from climate talks. Good news: More are stepping up to fill the gap.
One of them is China, which is making big investments to show what the energy transition could look like for the rest of the world.
In 2024, for instance, the country’s grid systems stored about 96% of the power generated from its wind and solar farms. That’s one of the highest rates ever recorded globally. To achieve this, it poured millions to strengthen its power grid systems, an effort that much of Asia is still struggling with.
While the country isn’t opening its pockets to aid other nations, its investments on home turf show it isn’t backing out of its climate change mitigation efforts. That’s one less thing the rest of the world needs to worry about.
— Elyssa
THE BIG STORIES
1️⃣ As US turns tepid, Asia’s climate tech sector seeks new funders
Image credit: Timmy Loen
The US is the world’s biggest backer of climate tech startups. But with President Donald Trump downplaying concerns on climate change, investors have been hush-hush on supporting climate tech startups. Those in Asia are now turning to sovereign wealth funds and family offices to fill the financing gap.
2️⃣ Philippine giants plug into EV charging space despite profit woes
It’s been an open secret that EV charging is a loss-making business. It took non-Tesla chargers in the US a decade to break even, after all.
But that isn’t discouraging conglomerate-backed EV charger operators in the Philippines to double down on installing infrastructure in the country. Stakeholders say a “hybrid” business model may be required for them to start cashing in.
DEEP READ
China envoy sees global climate fight advancing even without US
TRENDING NEWS
STARTUP WATCH
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