The International Energy Agency (IEA) pointed out in the "2022 Southeast Asia Energy Outlook" recently released that in order to improve energy security and achieve emission reduction targets, Southeast Asian countries should further improve energy efficiency and accelerate the transformation of renewable energy power generation and low-emission fuels.
According to the current policies of the 10 member countries of the Association of Southeast Asian Nations (ASEAN) (Indonesia, Myanmar, Malaysia, Vietnam, Thailand, etc.), energy demand will grow by about 3% annually by 2030, of which 3/4 of the growth will come from fossil fuels, Carbon dioxide emissions will increase by 35% compared to 2020.
In recent years, only about 40% of energy investment in Southeast Asia has been in renewable energy. ASEAN member states must strengthen investment in renewable energy, especially in technological innovation and renewable energy infrastructure.
The IEA calls for a clear commitment from ASEAN countries to introduce low-carbon energy and improve regulatory and financing frameworks to attract private investment. Southeast Asia is expected to become the world's leading producer of key minerals such as nickel, tin and rare earths. In the future, Southeast Asian countries can play an important role in the global energy transition as major producers of solar panels and electric vehicles.
