Indian and Chinese stock market capitalization may grow fourfold by 2050 as Asia turns from “laggard to leader” in the climate transition, according to Abrdn CEO Stephen Bird.
and Bird supported the long-term view that Asian equities can transition from"laggards to leaders," in terms of both performance and their role in tackling the climate crisis.
However, Bird acknowledged that progress is unlikely to be linear, with the globalization that has driven Asia's economic growth in danger of fizzling out and climate change posing an"acute challenge" for the region. "Whether in the form of solar panels, batteries for electric vehicles or green hydrogen, decarbonisation is dependent on Asian innovation," Bird said.
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