Sustainability tech in Southeast Asia is rapidly advancing as businesses increasingly adopt environmental, social, and governance (ESG) policies aimed at protecting the environment and promoting decarbonisation across the region.
Climate change and its associated extreme weather patterns pose significant challenges for the Association of Southeast Asian Nations (ASEAN). Surveys reveal that a majority of citizens in the region view environmental issues as critical, with the Philippines leading the way, where 76.8% of respondents express concern.
Shannon Lung from UOB FinLab explores sustaining sustainability for SMEs in ASEAN
Innovative climate tech startups, such as Dat Bike in Vietnam and Zuno Carbon in Singapore, are taking meaningful steps to combat carbon emissions that not only pollute the air but also contribute to serious health issues. The environmental challenges facing ASEAN countries are multifaceted, including the proliferation of plastic and electronic waste, erratic weather patterns impacting agriculture, floods that devastate crop yields, the overexploitation of limited land resources, and a significant loss of biodiversity. We examine the other key events and emerging trends in sustainability tech in the region.
A closer look at key trends in ASEAN’s sustainability ecosystem
Qarbotech received USD 1.5 million to enhance photosynthesis
Sustainable solutions aim to increase efficiency and productivity. Qarbotech embodies this philosophy with its pioneering nanotechnology that seeks to revolutionise agriculture. It specialises in manufacturing photosynthesis enhancers, maximising agricultural yields, and helping to address food security challenges in Southeast Asia. By unleashing the true potential of photosynthesis, farming practices become more sustainable through better soil and nutrient management.
Recently, Qarbotech secured USD 1.5 million from investors like 500 Global, Better Bite Ventures, ID Capital, Epic Angels Limited, and EQT Foundation. The company aims to boost its manufacturing capacity in Malaysia and expand to markets like Indonesia, Thailand, and Vietnam. Its flagship product, Qarbogrow, uses biocompatible carbon quantum dots material to increase crop yields by 60%.
Evercomm expansion plans
Singapore-based Evercomm aims to reduce greenhouse gas (GHG) emissions by focusing on the industrial and commercial sectors. It provides expertise to guide companies to optimise energy usage, minimise energy wastage, and address climate change. It uses carbon reduction engineering technology like its NX-Series enterprise solution suite to help businesses automate carbon footprint calculations and reporting.
Evercomm won the COP28 UAE TechSprint award at Dubai’s 28th United Nations Climate Change Conference. The company had the best financial technology solution in the Internet of Things (IoT) and Sensor segment for tracking, auditing, disclosing, and comparing data on GHG emissions. In July, Evercomm secured SGD 10 million from Mitsubishi Electric to pursue its expansion plans into Europe.
Muuse reduced single-use waste from landfills
One of the biggest sustainability challenges in the world is the presence of landfills. Muuse (short for multiple use) seeks to end single-use waste and make reusing products second nature. In Singapore, you can request a reusable Muuse container in partner cafés and scan the QR code to borrow the item. Once through, you will scan the QR code of the location you are returning the container, and the company will do the professional cleaning according to government regulations.
Muuse’s initiative means that people reduce waste and limit the depletion of resources required for waste management. Its Hawker Centre Reuse Program prevented almost 10,000 disposable plastic containers from going to landfill. It involved 608 unique users renting 9,608 reusable containers over ten months, and these numbers represented 80% of carbon emissions savings.
CarbonEthics blends environmental and commercial impact
Indonesia’s CarbonEthics develops tech-enabled natural climate solutions, primarily for marine systems and now for peatland and green ecosystems. It helps businesses and the environment through nature-based decarbonisation, tree planting, and understanding the regulatory landscape. It also improves the livelihood of local communities and supports biodiversity.
Recently, CarbonEthics received USD 2.1 million in funding from venture capital firm Intudo Ventures. The company will use the money to accelerate the development of high-quality carbon projects and related projects.
Clime Capital investments in solar energy
Singapore-based fund manager Clime Capital facilitates the transition to clean energy in Southeast Asia by identifying and supporting unique, early-stage investment opportunities. It targets high-growth markets where it can contribute to alleviating infrastructure gaps, addressing climate change risks, building sustainable economies, and finding areas with chances for investor returns.
Clime Capital announced its investment of up to USD 10 million in solar leasing company Upgrade Energy Philippines (UGEP), which it will make through its South East Clean Energy Fund II (SEACEF II). The funding will accelerate the deployment of solar energy infrastructure in the country. UGEP President and CEO Ruth Yu-Owen said these improvements would help meet the Department of Energy’s targets of 35% renewable energy by 2030 and 50% by 2040.
A bright future
The rise of climate tech startups is crucial to driving sustainability innovation in Southeast Asia. By tackling challenges such as slow technology adoption, inadequate waste management, and unregulated carbon emissions from the industrial sector, these companies are poised to make significant strides in improving air quality and environmental health.
Their efforts not only promote the use of renewable energy sources but also pave the way for a greener and more sustainable future for ASEAN. With continued investment and collaboration, Southeast Asia can transform its environmental landscape and lead the way in sustainable development.