Singapore accounts for 1% of Asia’s green revenues: LSEG

Asia led the global green economy by revenue, whilst the US remained dominant by market capitalisation.

Singapore accounted for about 1% of Asia’s green revenues in 2025, according to LSEG’s Investing in the Green Economy 2026 report.

The city-state’s share was smaller than the region’s larger green revenue markets, led by China at 41%, Japan at 28%, Hong Kong at 10%, South Korea at 6%, Taiwan at 5%, and India at 4%.

Malaysia, Thailand, and the Philippines also each accounted for around 1% of Asia’s green revenues, whilst other Asian markets made up 2%.

Asia remained the world’s largest green economy by revenue, accounting for 47% of global green revenues in 2025. The region has led global green revenues since 2016, supported by clean energy adoption, investment, and government transition policies.

LSEG said Asia plays a key role in green sectors such as energy equipment, transport equipment, and waste and pollution control. China generated more than half of global green revenues in EV batteries and railway infrastructure.

Asia’s green revenues grew at a 12% compound annual growth rate over the past five years, outpacing the global market’s 10% growth rate.

The region was also the largest destination for clean energy investment. China deployed $805.9b (US$625b) across renewables, energy storage, nuclear, and energy efficiency, representing over 30% of global investment. India followed with around $128.9b (US$100b) in clean energy investment.

However, LSEG said Asia continues to face a dual challenge as it accelerates clean energy deployment whilst maintaining reliable and affordable energy systems. The region remains heavily dependent on imported fossil fuels, particularly from the Middle East, and remains the largest driver of coal investment and demand.

Globally, the green economy’s market capitalisation surpassed $12.9t (US$10t) for the first time in the fourth quarter of 2025.

Green revenues rose 5.3% in 2025, the fastest pace since 2022, across LSEG’s coverage of more than 21,000 listed companies.

If treated as a standalone industry, the green economy would be the world’s third-largest by market capitalisation, behind Technology and Industrial Goods & Services, and ahead of Health Care.

The US remained the largest green economy by market capitalisation, accounting for 57% of the global total. In revenue terms, the US generated 27% of global green revenue, followed by China at 19% and Japan at 13%.

Green bond issuance also reached a record $780.1b (US$605b) in 2025, up 5.7% YoY. Corporate issuers accounted for 68% of issuance, whilst APAC recorded the fastest growth in corporate green bond issuance at 42%.

LSEG said the green transition is increasingly being shaped not only by decarbonisation, but also by energy security, supply chain resilience, and rising electricity demand from electrification and AI infrastructure.

(US$1 = $1.29)