OMNI Features｜Ember: Renewable Energy Accounts for Over 30% of Global Electricity Supply．Vietnam Emerges as Prime Investment Destination for Singaporean Enterprises Amidst Energy Transition Drive．Potential Impact of Global Warming: Taiwan May Experience 7-Month-Long Summers with Persistent Extreme Rainfall

｜Ember: Renewable Energy Accounts for Over 30% of Global Electricity Supply
According to a study by climate thinktank Ember, renewable energy made up more than 30% of global electricity last year, marking the first time it has reached this milestone.

This increase is primarily attributed to the rapid growth of wind and solar power generation. Despite a continued rise in overall electricity demand, the world may consider reducing fossil fuel-based electricity generation. Ember's report highlights that clean energy has significantly slowed the growth rate of fossil fuel generation by nearly two-thirds over the past decade. From 19% of the global electricity supply in 2000, renewables have now surpassed 30% as of last year. Dave Jones, Ember's Global Insight Director, stated that the future of renewable energy has arrived, particularly with solar energy's growth rate surpassing expectations.

｜Vietnam Emerges as Prime Investment Destination for Singaporean Enterprises Amidst Energy Transition Drive
According to the latest report from the Singapore Business Review column, the position of Singaporean companies in Vietnam is increasingly prominent, making them one of the country's major investors. Column authors Chris Malone and Quan Doan point out that According to the United Nations Conference on Trade and Development (UNCTAD), Foreign Direct Investment (FDI) in Vietnam rose by an extraordinary 59% — from $51.0 billion in 2012-2016 to $81.0 billion in 2017-2022.

Singapore has also been at the forefront of this investment surge. Vietnam has become an ideal investment destination for Singapore, mainly due to several factors, including its geographical location, labor costs, and the Vietnamese government's active promotion of energy industry transformation in recent years, along with its ongoing exploration of other green investment avenues.

｜Potential Impact of Global Warming: Taiwan May Experience 7-Month-Long Summers with Persistent Extreme Rainfall
The National Climate Change Science Report for 2024 indicates that if global warming continues unchecked, Taiwan's summer may extend to seven months, resulting in decreased rice and corn yields and impacting fisheries. Rising sea levels would increase flooding in Yunlin, Tainan, and Keelung. Additionally, consecutive dry days in spring would increase, intensifying drought events and making extreme rainfall the new norm. The report predicts that under a 4°C warming scenario, extreme rainfall events that occur once every 50 years could happen every decade. While the number of typhoons may decrease in the future, wind speeds and rainfall amounts will increase, especially in strong typhoons. Furthermore, warming would make dispersion difficult in autumn and winter, increase ozone generation, significantly enhance the urban heat island effect, and affect air quality.

Source: TheGuardian｜Singapore Business Review｜CNA