APRILASIA BUSINESS OUTLOOK9According to a report by Bain & Company, Southeast Asia is falling significantly short on green investments aimed at reducing emissions, requiring new policies and financial mechanisms to bridge the gap. Despite a projected 40 per cent increase in energy consumption in the region this decade, carbon dioxide emissions, which contribute to climate warming, continue to rise due to the region's heavy reliance on fossil fuels. The report, compiled annually by Bain, green investment group GenZero, and Standard Chartered Bank, highlights this concerning trend.Although green investment saw a 20 per cent growth last year, it remains far below the $1.5 trillion needed this decade. Without intervention, emissions in the region's ten countries could exceed their 2030 pledges by 32 per cent, the report cautioned.GenZero's managing director, Kimberly Tan, emphasized the urgency of increased efforts from countries, corporations, and investors, citing the region's significant deviation from necessary targets.Currently, clean energy constitutes only 10 per cent of total supplies, while fossil fuel subsidies outweigh renewable investments by five times. Challenges such as high capital costs and regulatory uncertainties further hinder the financing of renewable projects.Additionally, only four out of the ten countries--Indonesia, Malaysia, Singapore, and Vietnam--have made progress in implementing carbon pricing mechanisms.The report advocates for more robust policies, incentives, and regional cooperation, alongside sustained focus on deployable technologies to drive decarbonization efforts. Tan highlighted the presence of many immediate emission-reduction opportunities in Southeast Asia, emphasizing the importance of seizing these "low-hanging fruit" to kickstart the decarbonization journey effectively. Republican lawmakers in the US have criticized the Biden administration following the recent unveiling of a laptop by Huawei, the Chinese telecoms equipment giant, which is powered by an Intel artificial intelligence chip. Huawei was placed on a trade restriction list in 2019 for violating Iran sanctions, as part of a broader effort to limit Beijing's technological advancements. Being on this list requires Huawei's suppliers to obtain a special license before shipping to the company.Since 2020, Intel has been permitted to ship central processors to Huawei for use in laptops under a license issued by the Trump administration. While some China hardliners had urged the Biden administration to revoke this license, it was expected to expire later this year without renewal.Huawei's recent unveiling of its first AI-enabled laptop, the MateBook X Pro, powered by Intel's new Core Ultra 9 processor, has stirred criticism among these lawmakers. They perceive this as an indication that the US Commerce Department approved shipments of the new chip to Huawei.Republican Congressman Michael Gallagher, who chairs the House of Representatives select committee on China, expressed his frustration, questioning why the Department of Commerce continues to permit US technology to be shipped to Huawei.However, according to a source familiar with the matter, the chips were shipped under a pre-existing license and are not subject to recent restrictions on AI chip shipments to China. SOUTH EAST ASIA LAGGING BEHIND IN TERMS OF GREEN INVESTMENTHUAWEI SHOWCASES LAPTOP POWERED BY INTEL AI CHIPSNEWSROOM
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