Brookfield raises .4bn for catalytic transition fund, names four new investors | FinanceAsia

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Brookfield Asset Management has closed $2.4 billion for its Catalytic Transition Fund (CTF), as it seeks to raise up to $5 billion for deployment towards clean energy and transition assets in emerging markets. These include funds from CDPQ, GIC, Prudential and Temasek.

CTF was previously launched at COP28 with up to $1 billion of catalytic capital provided by Alterra, the world’s largest private investment vehicle for climate finance based in the United Arab Emirates, with the purpose of mobilising investment at scale to finance a new climate economy.

Alterra’s fund commitment has been designed to receive a capped return, thereby improving risk-adjusted returns for other investors in the fund, according to a statement. 

Brookfield has committed to provide 10% of the fund’s target to align itself with investment partners and investors.

The partnership is designed to help drive clean energy investment into emerging markets, where investment needs to increase sixfold over current levels to reach the $1.6 trillion required annually by the early 2030s in line with global net zero targets.

CTF is focused on deploying capital into clean energy and transition assets in emerging markets in South and Central America, South and Southeast Asia, the Middle East, and Eastern Europe.

In Asia, FinanceAsia understands that target markets will include Vietnam, Thailand, Indonesia, Malaysia and the Philippines.

The fund expects to announce its initial investments later in 2024, and a traditional first close – with additional capital from Brookfield’s ongoing fundraising efforts through its extensive network of institutional investors – is expected by early 2025.

H.E Majid Al-Suwaidi, CEO of Alterra, said in a statement: “CTF demonstrates Alterra’s catalytic capital as a powerful multiplier of climate finance to the Global South. This early momentum around CTF shows strong global demand not just for climate strategies, but for opportunities to invest in climate solutions in emerging markets.”

Al-Suwaidi said: “Alterra looks forward to working with CDPQ, GIC, Prudential and Temasek and other partners who share our ambitions to redefine how the world invests in climate solutions and go beyond business-as-usual to deliver positive impact for both people and planet.”

Mark Carney, chair and head of transition investing at Brookfield Asset Management, said: “These anchor commitments from CDPQ, GIC, Prudential and Temasek demonstrate significant momentum for the CTF.”

Carney added: “The support from the world’s most sophisticated investors for the CTF strategy underscores the unique combination of the major commercial opportunity and the climate imperative. We look forward to working with other like-minded investment partners to accelerate the transition in these critical and vastly underserved markets.”

Marc-André Blanchard, executive vice-president and head of CDPQ global and global head of sustainability, said: “Globally, around $6.5 trillion will be needed yearly for the energy transition over the next 15 years. It’s a staggering figure, and various partnerships and investments are necessary to accelerate the path forward.”

Don Guo, chief investment officer, Prudential, said: “We believe there is an opportunity to drive scalable positive change in emerging markets through investing in the climate transition. Prudential’s investment in Brookfield’s CTF underscores our belief that responsible investment is not only an environmental imperative but also a significant opportunity for growth in emerging markets.”


¬ Haymarket Media Limited. All rights reserved.

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Pacific Island security cooperation still crucial for Australia – Asia Times

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This article first appeared on Pacific Forum, and it has since been republished with your type agreement. Read the original below.

Australia launched its National Defense Strategy ( NDS ) in April 2024 by&nbsp, stating&nbsp, that the country will remain the “partner of choice” for the Pacific Island countries ( PICs ) when it comes to security cooperation. But why does this standing subject to Australia?

Australia, as a&nbsp, end energy, is a vital regional head in the Pacific. Since the end of World War II, Australia has been in the Pacific place for safety assistance. Australia continues to be one of PIC’s biggest dealing partners and sponsors. Since 2008 Australia has &nbsp, invested&nbsp, nearly A$ 14 billion of its official development assistance in the Pictures.

Being “partner of option” remains a key component of Australia’s NDS for the PICs, for many reasons, and now that competition with China for influence in the Pacific is a continuous reality, this means using Australia’s foreign influence and relationships to advocate for the Pacific’s needs.

First, climate change remains one of Australia’s best foreign policy interests. As a pro-Paris Climate Accord position, Australia has &nbsp, played&nbsp, a major responsibility since 2015 in addressing the climate change matter in the Pacific and worldwide. In reality, Australia’s major &nbsp, global growth initiatives&nbsp, have been driven mainly by its climate policy agenda.

Climate change remains the&nbsp, second largest safety threat&nbsp, in the region and since Anthony Albanese’s Labor authorities took office in June 2022, a more transformative&nbsp, approach&nbsp, has been taken to address the issue. Through its assorted&nbsp, climate investment work, Australia aims to&nbsp, reduce&nbsp, carbon emissions by 43 % in 2030 and reach net zero in 2050.

Australia’s increased engagement in the Pacific in its climate action efforts has led the country to&nbsp, <a href="https://www.argusmedia.com/en/news-and-insights/latest-market-news/2351128-pacific-islands-back-australia-joint-bid-to-host-cop-29″>receive the full support&nbsp, of the Pacific Islands Forum ( PIF ) members of Australia’s bidding to co-host the 31st&nbsp, Conference of the Parties ( COP31 ) in 2026 with PIF.

Second-largest challenge for Australia to be a companion of choice for the Pictures in security cooperation is geostrategic competitors. The geostrategic competitors between the US and China has &nbsp, intensified&nbsp, in the region.

As a key ally of the US Canberra has been involved in a variety of initiatives to counteract the rise of China in the Pacific even though the great power rivalry continues to be a  concern  for the PIF members ( including Australia ).

China has emerged as a global powerhouse and is advancing regionally in the Indo-Pacific. China’s wedding in the Pacific has thus far largely been about economic growth.

Through its Belt and Road Initiative ( BRI), for instance, China has provided infrastructure projects in countries like Papua New Guinea ( PNG ), &nbsp, Solomon Islands&nbsp, and&nbsp, Vanuatu.

However, China’s energy to&nbsp, establish&nbsp, a bilateral security deal with Solomon Islands in 2022 has changed the entire narrative of energy relationships in the Pacific given that Australia and the US have been the PICs ‘” standard safety partners”.

The term “partner of option” in security cooperation falls under the umbrella of a standard protection partner, in which Australia tightly adheres to its foreign policy through dialogue with its Pacific neighbors and ensures that the US maintains its status as the Pacific power.

While Australia, within the course of a season, &nbsp, signed three diplomatic security agreements&nbsp, with Vanuatu, Tuvalu, and Papua New Guinea to maintain its influence in the region in security assistance, China’s growing influence in the Pacific issues and concerns the concept of “partner of selection”.

In her recent interview, Sen. Penny Wong, Australia’s foreign affairs minister&nbsp, stated&nbsp, that:” ]w ] e are now in a position where Australia is a partner of choice, but the opportunity to be the only partner of choice has been lost and we’re in a state of permanent contest in the Pacific]with China ] —that’s the reality”.

Australia, apart from its security engagement with the PICs, also supports a free and open Indo-Pacific through engagement with key partners.

This include AUKUS, the trilateral security partnership&nbsp, established&nbsp, in 2021 with the US and UK in which both countries would build Australia’s nuclear-powered submarine capabilities ( conventionally armed ), including through&nbsp, acquisition&nbsp, of five Virginia-class nuclear-powered submarines from the US over the next three decades for$ 368 billion.

The AUKUS partnership also entails technology and information sharing among the three countries as well as&nbsp, deployment&nbsp, of US and UK submarines as early as 2027 to have rotational presence in Western Australia at HMAS Sterling through Submarine Rotational Force-West, a strategic move not just to help Australia build its nuclear-powered submarine fleet but also&nbsp, counter&nbsp, China’s growing influence in the Indo-Pacific.

As one of the members of the&nbsp, Quadrilateral Security Dialogue&nbsp, (” Quad” ) with the US, Japan and India, Australia’s status as a founding member of PIF ensures that humanitarian assistance, the key reason why the Quad was &nbsp, established&nbsp, in 2004, is delivered to PICs, who remain vulnerable to non-traditional security threats like climate change.

Australia, along with New Zealand, Japan and South Korea also maintains the presence of NATO through&nbsp, Partners in the Indo-Pacific&nbsp, ( IP4 ).

Although NATO was &nbsp, established&nbsp, to counter Soviet threats during the Cold War in Europe after World War II, its partnership with IP4 exists to&nbsp, maintain&nbsp, the international rules-based order in the Indo-Pacific.

There is this&nbsp, notion&nbsp, that” countries in both Europe and the Indo-Pacific count on the US to guarantee their security —a guarantee]that ] they have not had…to question for three-quarters of a century”.

However, China in the Indo-Pacific is already battling that security guarantee from the US. The US and its NATO partners see China’s emerging superpower status and its&nbsp, provocative actions&nbsp, in the South China Sea, particularly with the Philippines, as a threat to the liberal order.

Second, Australia sees the Pacific as a crucially important region for both its national security interests and the security interests of its allies as a US ally and as a NATO partner.

This implies that Australia seeks to prevent China from imposing coercion or attempts to establish bilateral security arrangements with PICs and to ensure that PICs remain under its control in security cooperation.

For instance, the former prime minister of Solomon Islands, Manasseh Sogavare was &nbsp, described&nbsp, as the polarizing, pro-China figure in the Pacific when he&nbsp, signed&nbsp, the security deal with China and PNG was &nbsp, urged&nbsp, early this year by Washington and Canberra to reject China’s bilateral security offer.

When responding to China’s bilateral security offer to PNG, Australia’s Prime Minister Albanese&nbsp, stated:” ]W] e are a security partner of choice for]PNG], as we are for most of the countries in the Pacific”.

PNG did not take up China’s bilateral security offer, intended to help improve PNG’s internal policing, as PNG already has a similar&nbsp, bilateral security arrangement&nbsp, with Australia.

Geoeconomic competition is the most important factor in Australia’s choice for partner of choice in security cooperation for PICs. Both the US and China are &nbsp, key trading partners&nbsp, of Australia, and the Pacific region is critical to their economic development as it houses the&nbsp, trans-Pacific route, the world’s largest shipping lanes linking Asia and North America.

In 2023 alone, approximately 30 million 20-foot equivalent units ( TEU) of cargoes were transported across the trans-Pacific route.

Secondly, while China has done significant investment in infrastructure development through the&nbsp, BRI in the Pacific, Australia through its Pacific Step-up&nbsp, introduced&nbsp, the$ 2 billion Australian Infrastructure Financing Facility for the Pacific to increase its engagement in the region, as the BRI was &nbsp, accused&nbsp, of a “debt-trap” diplomacy.

Australia’s membership in the Partners in the Blue Pacific helps&nbsp, support Pacific priorities&nbsp, envisaged in the&nbsp, 2050 Strategy for the Blue Pacific Continent, as PICs are not included in the US-led&nbsp, Indo-Pacific Economic Framework&nbsp, for Prosperity except Fiji.

PICs are aware of Australia’s traditionally dominant position as a key regional influencer in security cooperation. While China’s interests, apart from economic development, are also to&nbsp, constrain&nbsp, Taiwan’s diplomatic presence in the Pacific, PICs perceive all parties involved, including big powers as its key development partners without any geopolitical interest in security and economic cooperation.

Australia will need to work more closely with the PICs as a traditional leader to maintain its position as the partner of choice in security cooperation while maintaining the sovereignties of each individual PIC.

For instance, the Pacific Policing Initiative ( PPI), just&nbsp, endorsed&nbsp, by PIF leaders in their 53rd&nbsp, meeting in Tonga late last month would be a good start for Australia’s investment in its effort for regional leadership in security cooperation as the PPI will be entirely funded by Australia in the next five years.

Moses Sakai ( sakaimoses@outlook .com ) is a Research Fellow at the Papua New Guinea National Research Institute and a Young Leader of the Pacific Forum. He taught at the University of Papua New Guinea from 2018 to 2023.

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PTT plots path to greener future

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Thailand aiming for net zero by 2050

Described: 16 Sep 2024 at 04: 30

PTT Plc, Thailand’s national energy firm, has realigned its method to balance business development with conservation, and expand both its own and the nation’s ambitions of achieving carbon independence and net-zero pollution, says its chief executive officer.

Kongkrapan Intarajang, the president and CEO of PTT, lately told the Bangkok Post that the firm is working toward a balance between conservation and business development to maintain Thailand’s national energy security. PTT has set an ambitious goal of reaching carbon net zero by 2050, also ahead of the national target of 2065 agreed upon at COP26 in Glasgow, Scotland.

To generate business development, PTT has divided its operations into two major areas– the oil and energy business, and the non-hydrocarbon business. By integrating carbon capture and storage (CCS) technologies and reducing carbon emissions, the petroleum and energy sector will put its weight on sustainable growth. However, its existing businesses– inland, river, and power–will increase decarbonisation efforts and raise profitability.

On the non-hydrocarbon before, PTT is revisiting areas such as electric automobiles, transportation, and life science to improve their market elegance and proper viability. ” Formerly, investments in this area were scattered. Buyers are looking for more significant benefits, and we need to concentrate on wise investments, doing what we excel at while together advancing conservation, reducing greenhouse chemicals, and growing EBIDA”, Mr Kongkrapan noted.

He acknowledged that the CCS industry has high fees, but sees it as a potential match for international megatrends. On CCS initiatives, the whole PTT party will work together.

As for hydrogen energy, while current demand remains low, the country’s latest Power Development Plan ( PDP ) includes it as 5 % of the total energy mix for electricity generation.

PTT is working closely with the government to create infrastructure to support future gas imports, the CEO said, with gas poised to become a global craze in alternative energy.

Jatuporn Buruspat, the permanent secretary of the Ministry of Natural Resources and Environment and a board member of PTT, emphasized the value of collaboration between the private sector and reducing carbon emissions.

He highlighted PTT’s pivotal role in driving Thailand’s progress toward meeting its carbon reduction commitments. Thailand anticipates a 388 million to be a carbon emission by 2025, an increase from the 269 million to the 269 million to be 2021. The nation has pledged to reach carbon zero by 2065 and to reduce emissions by 40 % by 2030. Notably, PTT Group accounts for nearly one-sixth of the country’s total CO2 emissions, making its decarbonisation and CCS efforts critical, said Mr Jatuporn.

Mr Jatuporn added that while Thailand contributes only 0.8 % of global CO2 emissions, it ranks among the top 10 countries most vulnerable to climate change, given its more than 3, 000 kilometres of coastline. He urged that every effort be made to reduce carbon emissions and suggested additional measures, including the complete phasing out of coal use in Thailand within the next ten years.

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China-Australia looking to heal trade war wounds – Asia Times

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When Treasurer Jim Chalmers travels to Beijing later this month, he and his counterpart at China’s peak economic agency, the National Development and Reform Commission, wo n’t be short on important topics to discuss.

The Gillard government‘s plan to sign the Australia-China Strategic Economic Dialogue, which is a component of a three-pronged deal in place in 2013.

The intention was to hold monthly discussions at the highest level. A Leaders ‘ Dialogue and a Foreign and Strategic Dialogue involving the two nations are also included in the contract.

The next time the official ties started to deteriorate was in September 2017.

After the Morrison state canceled the Victorian state administration’s Memorandum of Understanding to join in China’s” Belt and Road Initiative,” it was then officially suspended by Beijing in May 2021.

Its resurrected slowly, though. Under the Albanese authorities, leaders and foreign ministers have already been invited for mutual visits to stabilize the diplomatic relationship. However, it was n’t until June that the two parties signed a new memorandum to restart the dialogue.

Canberra and Beijing continue to talk, as evidenced by Chalmers ‘ ability to ensure the trip next Sunday. This is despite there being several problems with which they are at odds with.

For Chalmers, the focus will be getting a first-hand study on China’s struggling business and the challenges this provides to Australia’s personal outlook.

When he announced the visit, he made reference to a situation that his organization was tracking that could see the Commonwealth budget profits suffer a$ 4.5 billion loss as a result of lower prices for important commodities exports like iron ore and potassium.

Slowing Chinese expansion and falling item prices are undoubtedly never favorable for American income, but Chalmers is unlikely to make a comeback in a state of panic. According to the most recent business figures, China is still importing Australian iron ore and sodium in unprecedented or near-record quantities.

This suggests that a growing stockpile and a lack of need from other nations are at least as important in explaining recent price declines. And both are recovering from unusual price increases that have now reached levels that are more in line with historical averages.

The effect of Taiwanese growth on its need for American goods and services has also always been a plain, one-to-one relationship. That remains real now.

A complicated relationship

Australian wines export, for instance, are booming after Beijing removed taxes earlier this year.

China’s customs agencies put the value of imported Australian wine over the past three months at US$ 252 million, or around A$ 400 million ( US$ 268 million ). This topped the A$ 357 million sold over the past year to the US, Australia’s second-largest user.

Record numbers of learners from China are enrolling in American universities, though this is possible to decrease next season due to restrictions imposed by Canberra, no Beijing.

The large numbers of companies and officials who are attending the Australia-China Business Council’s Canberra Networking Day on Thursday show how strong China is still as a stand-out business.

Speeches are scheduled for commerce secretary Don Farrell, foreign secretary Penny Wong, dark commerce secretary Kevin Hogan, and dark foreign secretary Simon Birmingham.

Additionally, Chalmers may be concerned about raising the lingering buy ban that Beijing placed in place in 2020 for American lobsters. Trade Minister Don Farrell stated in June that he was “very convinced that the restrictions will be lifted in the near future.” A final solution might be announced during Chalmers ‘ visit.

China’s problems

For China, top of the list of problems will become Australia’s treatment of Foreign investors, especially in areas like essential nutrients. In the past, they have been welcomed but since 2020, there’s been an obvious de facto ban on more presence.

A recent study of Chinese firms in Australia found a general upbeat vibe. Nearly 80 % of respondents expressed optimism about the local business environment’s future. Still, while 72.5 % did not consider they had experienced discriminatory treatment, 42.4 % felt the enforcement of Australia’s laws and regulations lacked transparency.

It’s not hard to discover why. When Chalmers was asked in a question on Sunday to decide whether or not he wanted” China’s investment in crucial nutrients control in Australia,” he did not respond with a “no.” He also did n’t even offer a qualified “yes”

China will likely be looking for assurance that Canberra wo n’t impose tariffs on Chinese imports in a manner that is “like-minded” in comparison to Washington and some other capitals typically seen as “like-minded.”

This reassurance should n’t be difficult for Chalmers to provide. Unlike the US, Australia’s economic partnership with China remains largely comparable. Last season, Australia’s exports to China exceeded exports by A$ 110.7 billion.

And low-cost, high-quality imports from China, quite as electric vehicles, had been welcomed by the government amid a cost-of-living problems and the web no change.

Late last month, Chris Bowen, Australia’s Minister for Climate and Energy, hosted his Foreign equivalent for the 8th Australia-China Ministerial Dialogue on Climate Change in Sydney.

A bipartisan view

Republican support is also present for business with China. In March, Minister Farrell touted the potential for two-way trade to increase from A$ 300 billion to A$ 400 billion.

Not to be outdone, opposition leader Peter Dutton said in June he’d “love to see the trading relationship]with China ] increase two-fold”.

This year, Chalmers was right to claim that Australia’s partnership with China is “full of richness and full of opportunity.” His future trip can only aid in balancing the former and recognizing the latter.

James Laurenceson is director and doctor, Australia-China Relations Institute (ACRI), University of Technology Sydney

The Conversation has republished this essay under a Creative Commons license. Read the original content.

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Swathes of China, Japan log record summer temperatures

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BEIJING: Swathes of China logged the hottest August on record last month, the weather service said, as Japanese authorities announced that 2024 had been its warmest summer since records began. China is the leading emitter of the greenhouse gas emissions scientists say are driving global climate change. Beijing has pledgedContinue Reading

Q&A: Insights on the 6th International Sustainable Energy Summit (ISES) 2024

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  • This year’s theme will be” Accelerating Energy Transition Through Innovation.”
  • Functions workshops on AI in lasting energy, clean mobility &amp, fresh energy prospects

Q&amp;A: Insights on the 6th International Sustainable Energy Summit (ISES) 2024

The 6th ISES is set to take place from 20-21 August. Hamzah bin Hussin, the CEO of the Sustainable Energy Development Authority ( SEDA ) in Malaysia, is the organising chair of the 6th ISES.

What can you share about the upcoming Sixth International Sustainable Energy Summit ( ISES ) 2024?

The 6th International Sustainable Energy Summit ( ISES ) 2024 is set to take place from August 20-21, 2024, at the Kuala Lumpur Convention Centre. The Ministry of Energy Transition and Water Transformation ( PETRA ) hosts this biennial event, which is coordinated by the Sustainable Energy Development Authority ( SEDA ) of Malaysia. It provides a critical forum for discussions of green energy issues and innovations, with an emphasis on the transition to renewable energy through creative strategies and economical solutions.

What are the main factors or sights of this year’s mountain?

This version of ISES will have several crucial attractions. Through a number of forum sessions and a detailed exhibition, the summit will identify novel ways to transition energy. Participants will also have the opportunity to participate in company matching events, which will encourage cross-sector engagement. On top of that, workshops will cover essential topics, including the use of AI in sustainable energy, green mobility, and new energy prospects like Small Modular Reactors ( SMR ). Finally, attendees can take part in trade shows designed to foster cooperation and view exhibitions that showcase cutting-edge sustainable energy technologies.

These elements aim to give participants important learnings and understandings about the most recent developments in the sustainable energy industry.

Why was the design” Accelerating Energy Transition Through Innovation” chosen for this year’s mountain?

The importance of development in the energy move operation was chosen as the design. This includes both cutting-edge business tactics and cutting-edge economic models, which are necessary for promoting change. The conference will look at novel ways to help this changeover and provide new opportunities for sustainable practices as a result of the worldwide transition toward clean energy.

What impact does SEDA Malaysia think the event will have on the 2030 goal of net zero carbon?

The 6th ISES 2024 represents a crucial opportunity for developing novel options that are in line with Malaysia’s goal of achieving a net zero carbon by 2050, according to SEDA Malaysia. By emphasizing development, the mountain aims to strengthen R&amp, D in clean power technologies. The mountain is anticipated to substantially advance Malaysia’s energy transition plan and the international effort to achieve net zero emissions through marketing and understanding exchange, as well as fostering collaboration between local and international stakeholders.

What significant topics and sessions may be covered at the mountain?

A number of crucial sessions will be presented at the mountain to determine the strength sector’s prospect. I’d like to show three if these:

  • Dialogue with Power Leaders: This program will highlight novel ideas that can advance the mission while providing insight into strategies and initiatives for energy transition.
  • Workshops: Addressing necessary topics such as AI in power, clean freedom, and biology, these workshops did lay a foundation for effective energy development.
  • Full Sessions: Discussions will involve ASEAN’s cross-border energy industry controls and the position of youth in the energy transition, focusing on education and talent development.

In order to finally influence the power sector’s future, both locally and globally, these sessions are intended to encourage and foster a collaborative environment.

What does the 6th ISES 2024 mean general?

The 6th ISES 2024 event is expected to be crucial for the sustainability of the power environment, focusing on collaboration and innovation to advance the goal of achieving optimistic carbon reduction goals. By bringing together business leaders, scientists, and partners, the conference aims to catalyse significant progress in sustainable energy techniques, benefiting both Malaysia and the international community.

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AirTrunk launches AI-ready hyperscale data centre in Johor Bahru

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  • Malaysia’s capacity to spur creativity and the change of power
  • First implementation of direct-to-chip water cooling systems in AirTrunk’s profile

AirTrunk launches AI-ready hyperscale data centre in Johor Bahru

Australian-based Asia Pacific hyperscale data centre specialist AirTrunk has joined Johor’s growing cluster of data centres by launching its flagship 150 megawatt ( MW) facility. The data centre, dubbed AirTrunk JHB1 ( JHB1 ), commenced operations on July 30, &nbsp, just 18 months after the company’s initial announcement. In a statement, AirTrunk said the&nbsp, fast rollout underscores its dedication to meet Southeast Asia ‘s&nbsp, desire for hyperscale data center power. The release of JHB1&nbsp, adds to Johor’s burgeoning popularity as a local data center hub. &nbsp,

JHB1 is AirTrunk’s ninth data centre in the APJ ( AsiaPacific &amp, Japan ) &nbsp, region and its first in Malaysia, &nbsp, reflecting&nbsp, its&nbsp, aggressive expansion strategy, backed by majority owner Macquarie Asset Management. The initial phases of JHB1 will provide its big technology customers with more than 50MW of capacity, with the potential to expand to 150MW to meet growing demand. &nbsp,

The 10.3 hectare hospital in Johor Bahru will provide domestic and international connections to local tech hubs, including Singapore, which is close by. It will also serve a significant fog supply zone. Robin Khuda, founder and CEO of AirTrunk, &nbsp, said,” The rapid&nbsp, supply of JHB1 is a key step in the implementation of AI in Malaysia and AirTrunk’s development as a trusted spouse for our clients in the APJ place”.

The information center has a number of features designed to maximize energy efficiency and sustainability:

    It has an industry-low design Power Usage Effectiveness ( PUE) of 1.15, making it one of the most efficient data centres in Malaysia. ( A&nbsp, PUE of 1.15 means that for every 1.15 watts of power used, 1 watt goes directly to running the computers. This is much better than most data centres, making it one of the greenest in Malaysia. )

  • AirTrunk’s first deployment of direct-to-chip liquid cooling technology, alongside traditional indirect evaporative cooling ( IEC ) and high-density racks, reduced energy consumption by up to 23 %.
  • One of Southeast Asia’s largest solar-ready roofs that can add over 1MW of solar power for this phase, which is likely the largest solar-powered on-site deployment ever.

” JHB1 will be the most lasting data centre in Malaysia”, Damien Spillane, AirTrunk’s Chief Technology Officer, boldly says. Highlighting the agency’s conservation credentials, Spillane added,” In line with our Net Zero by 2030 goal, we are working with our customers to supply clean energy to meet electricity consumption at the data centre”.

Additionally, the business has taken steps to improve the region’s power consistency. In order to connect JHB1 and improve the energy transition in the region, AirTrunk and Malaysian power company Tenaga Nasional Berhad ( TNB) partnered in a 2023 MOU.

Additionally, AirTrunk just made the initial clean energy Virtual Power Purchase Agreement for a data center in Malaysia, which secured 30MW of solar energy from designer bi cox as part of the country’s Business Green Power Programme.

Pei Jet Lim, AirTrunk’s Head of Malaysia, emphasised the company’s commitment to the local economy:” AirTrunk is making a positive contribution to the local economy through supporting and developing local talent and delivering critical digital infrastructure. The new data center supports Malaysia’s rapid growth in cloud and artificial intelligence ( AI ) and supports the government’s plan to establish AI hubs there.

The JHB1 facility is part of AirTrunk’s expanding Asia Pacific &amp, Japan data centre platform, which now comprises 11 data centres with a total capacity exceeding 1.4 gigawatts ( GW).

Malaysia is expected to play a significant role in fostering sustainable development of AI and cloud as the country continues to position itself as a major tech hub in the Asia Pacific &amp, Japan region.

View of the initial phase of JHB1.

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Air New Zealand becomes first major carrier to drop climate goal

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Air New Zealand has abandoned a 2030 goal to cut its carbon emissions, blaming difficulties securing more efficient planes and sustainable jet fuel.

The move makes it the first major carrier to back away from such a climate target.

The airline added it is working on a new short-term target and it remains committed to an industry-wide goal of achieving net zero emissions by 2050.

The aviation industry is estimated to produce around 2% of global carbon dioxide emissions, which airlines have been trying to reduce with measures including replacing older aircraft and using fuel from renewable sources.

“In recent months, and more so in the last few weeks, it has also become apparent that potential delays to our fleet renewal plan pose an additional risk to the target’s achievability,” Air New Zealand Chief Executive Officer, Greg Foran, said in the statement.

In 2022, Air New Zealand adopted a 2030 target to cut its emissions by almost 29%.

It was much more ambitious than a 5% reduction goal over the same period set by the global aviation industry.

Sustainable Aviation Fuels (SAF) are a key part of the sector’s strategy to cut emissions but airlines have struggled to purchase enough of it.

“The price of [SAF] is more expensive than traditional fuels, and there is not enough capacity to produce that at scale,” said Ellis Taylor from aviation analytics firm Cirium.

“The delays in new aircraft deliveries are affecting airlines around the world, with both Boeing and Airbus under-delivering new jets over the last few years, largely due to snags in the wider supply chains of the manufacturers,” he added.

Aerospace giant Boeing has faced a number of major issues in recent years.

This month, Boeing agreed to plead guilty to a criminal fraud conspiracy charge after the US found the company violated a deal meant to reform it after two fatal crashes by its 737 Max planes that killed 346 passengers and crew.

The firm has also come under increased scrutiny after a door panel in a Boeing plane operated by Alaska Airlines blew out soon after take-off and forced the jet to land.

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Hybrids still greener, Japan seminar told

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Asean told not to fixate on EVs


TOKYO: Japan believes hybrid vehicles can provide another route for the Association of Southeast Asian Nations (Asean) to achieve its sustainable development goals.

Speaking during the “Economic Security and Supply Chains” seminar, Prof Yasuyuki Todo from the Faculty of Political Science and Economics, Waseda University, said Asean should be careful about relying too heavily on the electric vehicle (EV) industry.

This is because Asean primarily uses fossil fuels for energy production, so even when people use EVs, they still use precious non-renewable resources for their rides.

As such, he proposed that Asean, including Thailand, should focus on hybrid cars, as they are still much more practical than EVs for most countries in terms of reducing carbon emissions.

He also said that Thailand is beyond the stage of offering itself as a hub for car manufacturers.

“Thailand should focus more on research and development than on car productivity, as companies like Toyota already have research centres in Thailand,” according to Prof Yasuyuki.

He suggested that Thailand should focus on producing and managing energy more efficiently by leveraging existing technology to achieve the carbon neutrality and zero emissions goals it set for 2050 and 2065, respectively.

“Producing energy more efficiently is another way [to achieve sustainable development].

“So, I really hope Asean will utilise technology to boost its energy sector,” he added.

Meanwhile, in another seminar, “Towards Green Transformation”, Shinnosuke Ito, the Keidanren Environment & Energy Policy Bureau Head and Challenge Zero Promotion Office Head, said EVs are not the only way to a net zero emissions future, and there should be multiple pathways, such as focusing on hybrid cars, which are a more realistic option.

“We should not pursue EV success to the detriment of other industries. We need to allow alternatives such as hybrid cars. We need to go step by step.

“The Japanese automotive industry, including Toyota Motor Corp, also has other car lines apart from EVs. Jumping head-first into EVs is unrealistic, even for Japan,” he added.

Reiji Takehara, the Keidanren International Cooperation Bureau director, earlier explained that to transition to net zero emissions, the focus should not be entirely on EVs.

He said this is because when governments offer subsidies for EVs, the prices become more attractive for buyers, but when the subsidies stop, people will be reluctant to purchase them again.

“Although some people drive EVs in Japan, there are still too few charging stations. Besides, to reduce carbon emissions, electricity for charging EVs must be 100% generated from renewable energy,” he said.

“In Japan, we still burn fossil fuels to produce electricity, which is supplied to the country, including EV charging stations.

“Are there any countries that can boast that 100% of their electricity needs are met by renewable sources?

“I do not think so. Therefore, we should not be shortsighted,” he added.

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