Area’s net-zero ambitions provide alternatives for UK innovators, says new report
As Japan, South Korea and Taiwan race to decarbonise their economies and embed sustainable industrial practices, alternatives are rising for UK firms with cutting-edge applied sciences that may assist them obtain their bold net-zero targets. Regardless of the challenges posed by the cultural and language limitations, UK companies with related experience and an efficient market entry technique stand to realize important traction in these high-growth markets, based on a brand new report.
The report explores the alternatives and challenges going through Japan, South Korea and Taiwan as they embrace decarbonisation, search to construct their home sustainability sectors and meet the rising expectations of their residents round environmental accountability. It additionally highlights sectors of specific curiosity to UK tech corporations and descriptions potential routes to market.
The report was produced by worldwide enterprise improvement consultancy Intralink as a part of the UK-APAC Tech Progress Programme, which it delivers on behalf of the UK authorities to assist UK firms increase in 11 Asia Pacific markets. It’s accessible at no cost obtain right here.
Under are a number of the key factors highlighted within the doc.
Japan
Japan has dedicated to reaching carbon neutrality by 2050, with a spread of government-backed initiatives driving a £12.7 billion sustainability market. Areas of alternative for UK tech firms embrace:
• Inexperienced hydrogen manufacturing and storage to assist the nation’s power transition targets
• Renewable power options, notably offshore wind and solar energy for software in densely populated areas
• Good grid applied sciences to reinforce power effectivity, grid monitoring and demand administration.
South Korea
The South Korean authorities, along with 11 of its largest conglomerates, has pledged to speculate £55.5 billion by 2025 to drive decarbonisation. The nation’s reliance on hard-to-abate sectors similar to manufacturing presents challenges but in addition important alternatives for UK corporations in:
• Price-efficient renewable power, together with offshore wind, high-efficiency photo voltaic and power storage applied sciences
• Superior carbon seize, utilisation and storage (CCUS) options to assist cut back industrial emissions
• Subsequent-generation batteries to assist the transportation sector’s shift to sustainability.
Taiwan
Taiwan’s sustainable expertise sector is rising quickly, pushed by sturdy authorities incentives, superior technological capabilities, and rising public consciousness of environmental points. Key areas the place UK firms can contribute embrace:
• Renewable power growth, notably offshore wind and solar energy
• Good constructing applied sciences and using sustainable supplies similar to bamboo, wooden and Insulated Concrete Varieties for energy-efficient building
• Round financial system improvements, supporting waste discount and materials reuse.
Sam Leng, co-author of the report at Intralink, commented: “Japan, South Korea and Taiwan are looking for worldwide experience to speed up their decarbonisation efforts. Nonetheless, for UK firms, coming into these markets might be difficult due to the totally different cultural norms, laws and enterprise practices.”
“By way of the UK-APAC Tech Progress Programme, we offer the perception and assist UK companies must navigate these complexities and develop profitable market entry methods.”