International design, engineering and advisory company Aurecon has acquired Acuity Sustainability Consulting Limited, Acumen Environmental Engineering and Technologies Limited and Acumen Laboratory and Testing Limited (Acuity and Acumen). All three companies, operating under ECL Capital Limited, will become members of the Aurecon Group, effective 1 June 2022.
This acquisition follows the strategic investment Aurecon had made in August 2021 with ERE Consulting Group, a multi-disciplinary environmental consultancy based in Malaysia. It further strengthens and broadens Aurecon’s environmental, water and sustainability capabilities in Greater China and in Asia.
William Cox, Chief Executive Officer at Aurecon, says “Asia is a strategic growth market for Aurecon and this acquisition is a testament to our commitment to growing our business in this region. As one of ENR’s Top 200 Environmental Firms worldwide, we play a vital role in helping communities and economies in which we operate, transition to a more sustainable and liveable future. With the addition of Acuity and Acumen, Aurecon can further strengthen our offering to clients in Greater China and beyond by harnessing the capabilities and expertise of a wider team of environmental and sustainability specialists.”
Asia, the Engine of Green Growth
According to a 2020 FTSE Russell report, the green economy represents over 5% of the market capitalisation of global listed companies, valued at approximately US$4 trillion. It has also been forecast to grow to 7% by 2030. On a compound annual growth rate (CAGR) basis, Asia’s environmental market is growing faster than other regions; it is expected to expand at around 3.7% per year, compared to 2.5% per year for the rest of the world.
Alongside that trend, Hong Kong aims to reduce its carbon emissions by 50% before 2035 and achieve carbon neutrality before 2050. The Hong Kong government will commit HK$240 billion (US$31 billion) in the next 15 to 20 years to drive various measures on climate change mitigation and transition. In addition, Mainland China has pledged to become carbon neutral by 2060 and it will spend approximately US$163 billion on renewable energy and other decarbonisation technologies to meet that target.
As Asia charts its path towards a greener future, there will be increased demand for sustainable and resilient infrastructure developments, with significant investments to follow suit.
“We are excited to welcome Acuity and Acumen as members of the Aurecon Group. Their team and expertise complement that of ERE, a multidisciplinary environmental consultancy that Aurecon has invested in last year. With our strengthened capabilities, we are better positioned to deliver a full suite of environmental and sustainability services to our clients in Asia, enabling them to be better prepared to transition to a green future,” Stephane Asselin, Chief Executive, Aurecon Asia said.
Jacky Leung, Founder of Acuity Sustainability Consulting Limited, agrees that an exciting chapter beckons. He said, “Aurecon, Acuity and Acumen share a common vision to design solutions that will shape a sustainable and resilient future. I see great synergy between ourselves and Aurecon’s business, growth strategy and brand values. We look forward to leveraging our respective strengths and driving innovation in the environment, sustainability and climate change sectors so as to leave a lasting, positive impact on the community.”