Authors: Mili Fomicov, Michael Waldron, Matt Jenkins, Tanguy de Bienassis
ASEAN countries such as Vietnam, Thailand, Malaysia, Indonesia and Singapore have all committed to either net-zero emissions or carbon neutrality by 2050. Governments have simultaneously increased the role of renewable power in national energy development plans. These dynamics all make ASEAN markets potentially attractive to clean energy investors. Nevertheless, the region’s economic development model remains based on fossil fuels, with a high dependence on coal-fired power plants, which account for more than 40% of power generation.
The objective of this report is to enable investors and policymakers to help accelerate the energy transition in the ASEAN region. The authors aim to provide more transparency through financial analysis of renewables assets and make recommendations on evolving climate finance frameworks, addressing foreign investment barriers and suggesting bolder government policies to change the energy system across developed and emerging economies.