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 formidable net-zero targets. Regardless of the challenges posed by the cultural and language obstacles, UK companies with related experience and an efficient market entry technique stand to realize important traction in these high-growth markets, in line with 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 explicit curiosity to UK tech corporations and descriptions potential routes to market.
The report was produced by worldwide enterprise growth consultancy Intralink as a part of the UK-APAC Tech Development Programme, which it delivers on behalf of the UK authorities to assist UK firms develop in 11 Asia Pacific markets. It’s out there free of charge obtain here.
Under are a few of the key factors highlighted within the doc.
Japan
Japan has dedicated to reaching carbon neutrality by 2050, with a variety of government-backed initiatives driving a £12.7 billion sustainability market. Areas of alternative for UK tech firms embody:
• Inexperienced hydrogen manufacturing and storage to help the nation’s power transition targets
• Renewable power options, significantly offshore wind and solar energy for utility in densely populated areas
• Sensible 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 take a position £55.5 billion by 2025 to drive decarbonisation. The nation’s reliance on hard-to-abate sectors resembling manufacturing presents challenges but in addition important alternatives for UK corporations in:
• Value-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 scale back industrial emissions
• Subsequent-generation batteries to help the transportation sector’s shift to sustainability.
Taiwan
Taiwan’s sustainable expertise sector is rising quickly, pushed by robust authorities incentives, superior technological capabilities, and rising public consciousness of environmental points. Key areas the place UK firms can contribute embody:
• Renewable power growth, significantly offshore wind and solar energy
• Sensible constructing applied sciences and using sustainable supplies resembling bamboo, wooden and Insulated Concrete Kinds 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 seeking international expertise to accelerate their decarbonisation efforts. However, for UK companies, entering these markets can be challenging because of the different cultural norms, regulations and business practices.”
“Through the UK-APAC Tech Growth Programme, we provide the insight and support UK businesses need to navigate these complexities and develop successful market entry strategies.”
