ASEAN Is Looking for Money to Fund Its Energy Transition

ASEAN’s hefty investment needs for energy transition are opening the doors for developed countries and investors to step in and fill the gap. At the same time, it benefits investors, the region, and the environment.

Rinaldi Azka

7 Sep 2023 - 18.52
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ASEAN Is Looking for Money to Fund Its Energy Transition

Several leaders from ASEAN took photos in ASEAN Indo Pacific Forum 2023 in Jakarta./Bisnis.

Bisnis, JAKARTA — President Joko Widodo (Jokowi) emphasized the need for sustainable and innovative financing to drive ASEAN's pathway to green and renewable energy. He made this statement during his speech at the ASEAN-Indo-Pacific Forum (AIPF) opening in Jakarta on Tuesday (9/5/2023).

Jokowi mentioned that ASEAN requires $29.4 trillion for the energy transition and that innovative financing schemes are needed through mutually beneficial and sustainable partnerships. President Joko Widodo urged sustainable and mutually beneficial financing schemes to accelerate the energy transition in the Southeast Asian region.

“For sustainable and innovative financing, ASEAN needs $29.4 trillion for the energy transition,” President Jokowi said.

This projection is based on research by the International Renewable Energy Agency (IRENA) for the period up to 2050. At that time, countries in the Southeast Asian region are expected to have transitioned to 100 percent renewable electricity generation.

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© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.