(TheConservativeTimes.org) – Southeast Asia received a substantial boost in investments from people last year to push for a more green and eco-friendly climate. Green data center projects have been a large piece of this since they saw a giant increase in a portion of the Asian market, but reports have said that they may need more than a six-billion-dollar investment.
An analysis was conducted by Bain & Company, GenZero, Standard Chartered, and Temasek that showed the $6.3 billion of green investments that went towards the region, which showed an over twenty percent increase when compared to the previous year.
Renewable energy has remained the primary “green investment” for the region, but the green data center projects have come in hot behind it and have driven the largest gains for the year. With this said, data centers are extremely popular right now as new technologies continue to arise such as artificial intelligence.
Two countries, Malaysia and Singapore, were the main Southeast Asian governments that helped to push advancements for the green data centers. These centers are said to be less reliant on fossil fuels but more energy efficient. The financing for these projects helped to elevate the country in a giant leap over others when it came to green investments.
In Singapore, their largest telecommunications company, Singtel, has just received a four hundred million dollar five-year green loan, which is aimed at improving the efficiency of all data centers for the company. The Singapore government has also released a sustainability standard for these data centers.
“Countries that 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.
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