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(Bloomberg) — Power-hungry industries across Asia are ramping up investments in the energy transition, according to engineering firm ABB Ltd., putting the high-polluting region on a tentative path to slashing emissions even as electricity demand surges.
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Firms across sectors like data centers, oil and gas, and infrastructure spent money on clean technologies, renewables, and grid modernization among others, ABB found in a survey of thousands of participants. More than half of those polled reported a 20% jump in investment in the past year, outpacing the global average of 11%, and that spending will continue to rise, it showed. The report did not provide further details.
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Asia expects to see power demand skyrocket in the coming years thanks to energy-intensive industries and growing populations in some countries. The region, which accounts for about half of global emissions, still relies predominantly on fossil fuels and moving to cleaner sources is crucial to its ability — and that of the world — to curb warming.
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But there are numerous hurdles. Almost two-thirds of respondents said grid instability was one of many challenges, and hoped for more cross-regional collaboration on grid infrastructure, the survey showed.
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Globally, investments in the energy transition went above $2 trillion for the first time in 2024, according to BloombergNEF. Spending on renewable energy development also reached a record $386 billion during the first half of 2025. Still, investment would need to average $5.6 trillion each year from 2025 to 2030, in order to get on track for global net zero by mid-century, according to BNEF.
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The ABB poll, which was conducted between May and June, surveyed 4,085 organizations across 12 Asian countries, from 10 industries including data centers, the oil and gas sector, property and infrastructure and more.
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