Going green could bring up to US$1 trillion in annual economic benefits to Southeast Asian economies by 2030, according to a report by global management consulting firm Bain and Company. Greater investments in renewable energy, reduced consumption and better waste management, less damaging crop-growing practices and improved urban planning are among the areas that could bring new growth opportunities for economies and greater efficiencies and savings, the authors say. But change needs to happen quickly as climate change risks grow along with rising threats to the environment and human health from deforestation, air pollution and growing mountains of rubbish, particularly plastic waste. The report, Southeast Asia’s Green Economy: Pathway To Full Potential, said ASEAN is at risk of being left behind other regions but the good news is that it is waking up to the need to change and could make rapid advances with the right policies. Along with the report, Bain also launched its Global Sustainability Innovation Centre (GSIC) in Singapore, which aims to advise firms on adapting to a less polluting and more efficient world. “The green economy is here already. We strongly believe that Southeast Asia really needs to be much bolder in its ambition,” said Dale Hardcastle, co-author of the report and co-director of GSIC.

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