Southeast Asia saw a significant uptick in green investments in 2023, with a boost from green data center projects, though funding remains insufficient, according to a report released Monday.
The analysis, conducted by Bain & Company, GenZero, Standard Chartered and Temasek, found that $6.3 billion of green investments flowed into the region, representing a 21% year-on-year increase.
While renewable energy remained the region’s primary green investment theme in 2023, green data center projects — aided by efficiency policies in countries like Malaysia and Singapore — drove the largest gains from the previous year, according to the report.
Demand for data centers has surged with the emergence of new, data-intensive technologies such as generative AI, leading to warnings of increased energy consumption.
According to a January report from the International Energy Agency, the AI industry’s energy consumption is expected to grow by at least ten times between 2023 and 2026.
Malaysia and Singapore pave the way
Malaysia and Singapore were among Southeast Asian governments that helped push major investments towards these green data centers, which aim to be more energy efficient and less reliant on fossil fuels.
Last year, Malaysia attracted large-scale green financing of over $500 million for at least two data centers, according to the Monday report. The financing for the projects helped the country make the biggest year-over-year jump in green investments out of all countries in the region, up 326% from 2022.
Meanwhile, Singapore’s largest telecommunications company, Singtel, secured a 535 million Singapore dollar ($401 million) five-year green loan aimed at improving efficiency at all of its data centers, including an upcoming 58 MW green data center, which began construction last year.
The move came after the Singaporean government unveiled a sustainability standard for data centers operating in tropical climates. The small city-state has become a hotspot for data centers and cloud service providers.
“Countries which take the lead in charting out their decarbonization roadmap through clear policy frameworks, supportive regulations and concrete financing plans will be better positioned to attract private investment,” said Kimberly Tan, head of investments at GenZero.
Despite these efforts, Singapore’s overall green investments fell in 2023 to $0.9 billion from $1.2 billion a year prior.
More to be done
While the regional uptick in green investments represented a positive trend shift, with some bright spots in green data center investment, much more is needed to meet critical climate goals, according to the authors of the report.
About $1.5 trillion in cumulative investment in the energy and nature sectors will be needed to reach nationally determined contribution targets by 2030, said the report. However, only 1.5% has been invested to date, with many countries at risk of missing their pledges, according to the report.
“We believe that an acceleration of effort by countries, corporates and investors is imperative as Southeast Asia remains woefully off-track,” said GenZero’s Tan.
Renewable energy accounts for less than 10% of the region’s energy supply, with fossil fuel subsidies being around five times higher than renewable investments, she added. Green investment towards power in the region fell by 14% year-over-year for the second year in a row.
“There is a reality gap between what many believe is happening and true progress on the ground,” said Dale Hardcastle, director of the Global Sustainability Innovation Center at Bain & Company.
But despite Southeast Asia’s “structural challenges,” immense potential exists to accelerate the energy transition and build the green economy through initiatives such as blended finance, he added.
Additionally, the report called on governments to facilitate more policy incentives and regional cooperation as well as to focus on already proven and deployable green technologies. Such efforts could unlock $300 billion of annual business by 2030, it added.
In the region, Indonesia saw the most private investment in green projects, followed closely by the Philippines. Meanwhile, Laos saw the second largest uptick of investments at 126%, thanks to foreign investment in renewable energy projects.
Other major investment drivers in Southeast Asia included investments in waste management like water treatment and plastic recycling.
In a bid to clean up its streets in more ways than one, the city of Madison, Wisconsin has added two Class 8 electric trucks to its garbage fleet earlier this year in the form of a pair of Mack Electric LR HDEVs … and the city already has plans to add two more.
“One of the reasons we’re going all-in on electrification is because it’s better for the environment,” explains Madison Mayor Satya Rhodes-Conway. “These refuse trucks hit every single block in the city of Madison. That is a lot of diesel fumes in our neighborhoods. If we can take even one diesel truck off of the streets … it is a win for our community.”
The big Class 8 Mack Trucks are powered by a pair of electric motors putting 400 combined kW (about 536 hp) through a 2-speed Mack Powershift transmission that offers a barely believable 4,051 lb-ft of peak torque output. That’s over 40% more power than the first generation LR Electric released in 2019 – and this iteration can charge the 376 kWh batteries fully in under two hours at 150 kW.
“Five years ago, Madison had no electric vehicles in its fleet,” continued Mayor Rhodes-Conway. “Today, we have more than 100 full electric vehicles, 150 hybrids, and, thanks to the Biden-Harris administration, 62 new electric buses that will serve our bus rapid transit system. Electrifying heavy-duty vehicles is on the forefront of zero-emissions technology. Madison will help demonstrate the performance of these new electric garbage trucks in real-world conditions and help quantify the long-term savings associated with eliminating fossil fuel costs and reducing maintenance expenses.”
With Camp Mode, Tesla started a new era for car campers. Quiet climate control, a multimedia entertainment display, a glass roof, and a large rear flat compartment area that easily fits most 6′ adults with a mattress mean that hotels on long solo drives are now optional. It can also be a nice camping option for those who don’t want to sleep on the ground, a convenient nap spot, or a nice place to relax and (Netflix and?) chill with that special someone.
When my dad got sick during Covid, I spent a lot of time on the road driving from New York to Ohio. I’d leave at night and usually start to get tired somewhere near the middle of Pennsylvania. Instead of getting a COVID-friendly hotel room, I’d just pull into a parking spot near or adjacent to a Supercharger. At the time, I was using a Havnby roll-out mattress, which was comfortable but really didn’t have the back support of a thicker mattress. Because I only planned to sleep about 4-5 hours, the mattress worked mostly fine and saved much time and money.
Unfortunately, the rollout mattress has some downsides. For one, it leaves lots of room on the sides and below for things to fall down. Phones, glasses, and wallets were all susceptible to these gaps, especially after tossing and turning. The worst part is that the pillow would often fall down behind/between the front seats.
Also, in terms of support, the mat doesn’t have great support for hips and back and required occasional mid-sleep movement to avoid pain.
So that’s where the larger inflatable mattress comes in…
Havnby’s air mattress fits inside a bag that can be stored in the Model Y subfloor “tub” or in the frunk for emergencies and that’s where mine usually lives. I also can easily fit some sheets, a blanket and a pillow/case as well. This is nice because you never know when the sandman is going to come in the middle of a long drive.
Deploying the air mattress can be done in under 60 seconds and as you can see in the video above, can be done with one hand. Steps:
Put down the back seats (can be done from rear)
Open Tub false floor and put bag on floor.
Lay out deflated mattress with inflator on your left side
Find 12V lighter adapter and plug into lighter receptacle. Turn dial to “inflate”.
As it inflates, grab sheets and put them on
Grab pillow and blanket and it is sleep time!
The air mattress expands to the edges of the seats and rear compartment and hugs the doors and wheel wells, not only ensuring the maximum amount of car camping square footage but also making it hard for things to fall around the sides. At 4.5-inches of thickness and sloping to 7 degrees of the rear seat incline, the air mattress, when inflated, is many times more comfortable than the other mats. I’ve noticed that it stays inflated particularly well over not just one but multiple nights.
If I had one complaint, it would be the quality of the 12V adapter wire, which seems a little tiny. I haven’t had problems in months of use, but if I had to guess which part would eventually wear/break, it would be this. Of course, this would be a quick and cheap repair.
Tesla does make its own similarly-priced air mattress for the Modely Y but it is thinner, has a separate inflator and is typically out of stock.
If space and budget are flexible, you can do what I do and put a mat mattress on top of the air mattress for the most comfortable, yet still portable solution. With the glass roof and premium sound, I’m tempted to forgo my regular bed and sleep on clear nights under the stars!
The experience has been amazing. You can listen to music or watch movies in a glass-roofed, temperature-controlled environment.
Audi is embracing its future in China with the launch of a new Chinese market electric sub-brand called AUDI that ditches the iconic “four rings” logo in favor of four capital letters – but one thing it hasn’t ditched is AUDI Audi’s sexy teutonic long-roof design language.
As you might expect from an Audi-issued press release that claims AUDI is a new and distinctive thing that’s totally separate from Audi, it’s a difficult and confusing read. Check out this sample and you’ll see what I mean:
The first premium car brand to enter the Chinese market back in 1988, Audi was a pioneer. As it launches its new brand AUDI in cooperation with SAIC, the company now underlines its claim to this role. AUDI is shaped 100-percent by the Audi DNA and embodies “Vorsprung durch Technik” in the era of electric intelligent connected vehicles. The AUDI E concept car was jointly developed by experts from both Germany and China. It offers a preview of three future production models to be introduced from mid-2025.
Which – I dunno. Maybe you’re smarter than me and this all makes sense. Regardless, Audi seems serious about this new AUDI thing, and the first vehicle to debut wearing the new nameplate does seem to share in the Audi DNA we’ve come to know, if only because it’s an AWD wagon and not a more generically-shaped SUV.
The AUDI E concept, itself
Co-developed with Chinese auto giant SAIC, the AUDI E Concept is about 4.8 meters long, putting it squarely in that BMW 5-series, Mercedes-Benz E-class range typically inhabited by the A6. Powered by two electric motors (one at each axle) putting out 570 kW (~765 hp) and 800 Nm (590 lb-ft) of torque to the ground through “signature” Audi quattro four-wheel drive, which enables the AUDI to rocket from 0-60 mph in about 3.5 seconds.
The concept car is equipped with a 100 kWh battery pack that AUDI parent company Audi says is good for up to 700 km of range (~430 miles) on the Chinese cycle. The wagon’s Advanced Digitized Platform also boasts an 800 volt system architecture that enables “super-fast” charging, adding more than 220 miles (370 km) of range just 10 minutes.
Electrek’s Take
Audi’s official press release says that the use of “AUDI” in lieu of the nearly century-old Auto Union rings “signals both the connection to, and differentiation from, the sister brand.” Now, call me cynical, but that seems both confusing and somewhat cowardly to me – if Audi wants to sell more affordable models in China under a different brand name, it already has one: Volkswagen.