Asia a potential global leader in emerging green technologies: report

BOAO, Hainan, March 25 (Xinhua) -- Asia is rapidly advancing in emerging green technologies, positioning itself as a potential leader in advanced battery materials, biodegradable plastics, among others, boosted by strong industrial capabilities and policy support, according to a report by the Boao Forum for Asia released on Tuesday.

Titled "Sustainable Development: Asia and the World Annual Report 2025 -- Addressing Climate Change: Asia Going Green," the report highlights the region's progress in renewable energy.

The report notes that China now sources 85 percent of its new energy capacity from renewables, while Indonesia and Singapore are leading efforts in carbon capture and storage, per the report.

China, Japan and the Republic of Korea dominate the global supply chain for lithium battery technology, a crucial driver of transport electrification, the report highlights.

Meanwhile, China is at the forefront of Asia's expanding green hydrogen industry, with the region accounting for nearly 70 percent of the world's hydrogen electrolyzer capacity.

Asia's largest emitters, including China, India, Indonesia, Japan and Saudi Arabia, have set ambitious climate targets, according to the report.

For instance, most of ASEAN economies have developed comprehensive national climate action strategies and action plans to implement their Nationally Determined Contributions and National Adaptation Plans.

Despite significant progress, the report points out that while some countries have demonstrated a strong commitment to sustainability, others still have a long way to go.

Asia's role in mitigating climate change is critical as it is home to over half of the world's population, generates about half of the global GDP and accounts for more than half of global CO2 emissions.