The global transition to net zero is crucial to protect and restore the environment. With the increasing need for new technology and innovation, there is a gathering pace that offers businesses unprecedented commercial opportunities. It is predicted that new green activities could generate US$10.3 trillion in global GDP by 2050 and create 24 million new jobs globally by 2030.

The five-day Net Zero Exchange Mission (March 18 to 22) is organised by the economic development agency Invest Northern Ireland (Invest NI) and is focused on three key areas: sustainable water management, hydrogen and decarbonisation. The aim is to engage with companies and stakeholders in Singapore and Malaysia to cultivate collaborations that drive mutual benefits such as innovation and growth in the green economy.

Northern Ireland's combination of talented people, an abundance of natural resources and a world-renowned reputation for engineering and manufacturing expertise makes it well placed to exploit the opportunities arising from the green economy. Supported by proactive government policies focused on doubling the size of the region's low carbon and renewable energy economy, Northern Ireland is home to a vibrant and growing ecosystem and a collaborative supply chain dedicated to building world-leading net zero solutions.

Rachel Sankannawar, head of Green Economy Development at Invest NI, will be part of the Net Zero Exchange Mission. She says: "Northern Ireland companies and stakeholders are keen to collaborate with businesses worldwide to drive forward the green economy. Our aim this week is to find out what companies in Singapore and Malaysia need to help them achieve their net zero targets and to highlight businesses in Northern Ireland that can collaborate to offer green products, solutions and innovation-driven partnerships.

"We also want to raise awareness of Northern Ireland as an excellent investment location for companies seeking a European base in which to establish a green technology business."

In the focus areas of sustainable water management, hydrogen and decarbonisation, Northern Ireland presents a compelling proposition. The region's expertise in water treatment technologies, such as UV disinfection, wastewater treatment and sludge management, has led to improved water quality, efficiency and climate resilience, further enhanced by investment in leak detection and monitoring systems, as well as smart metering.

As a result of collaboration across industry, academia and government, Northern Ireland has pioneered the use of curtailed wind for hydrogen production and is developing hydrogen and alternative fuels for the road transport and maritime sectors. It has strategic assets such as significant wind and water resources, a modern gas network, and the availability of salt cavern storage. It is investing in capability through its centres of excellence and a Hydrogen Training Academy focused on skills and technology commercialisation to support a hydrogen economy.

Northern Ireland is also a world leader in services and systems for the integration of renewable energy onto the grid and energy storage technologies. More than half of all electricity used in the region is from a renewable source, and a £3 billion investment in infrastructure is planned to facilitate a target of 80% renewable energy. The region has strengths and excels across key sectors delivering decarbonised energy, heat and transport, with ground-breaking innovation in carbon capture technologies and circular economy solutions.

In the face of a predicted 40% increase in energy consumption between 2020 and 2030 in Southeast Asia and with the need to reduce greenhouse gas emissions by 33% to meet the region's agreed targets, there is a growing demand for renewable energy and decarbonisation solutions.

Achieving net-zero emissions is a priority that demands collaboration, both regionally and globally. In a step towards joint climate action, the United Kingdom and Singapore signed the UK-Singapore Green Economy Framework (UKSGEF) in March 2023. The UKSGEF will help support both countries in achieving their net zero targets and contribute to the development of a dynamic green economy.

Beyond government-level agreement, there is ample scope for businesses and organisations to work together using their combined strengths to develop the products and services needed to move towards a net zero future.

Nick Caldwell, head of Asia Pacific territory at Invest NI, says: "This Net Zero Exchange Mission aims to open the door to the kind of collaboration that will deliver results for businesses in Singapore and Malaysia as well as in Northern Ireland. We hope it will also highlight further opportunities for trade between the countries.

To find out more please contact [email protected] or visit www.investni.com/netzeroexchange