Issue 13/2022 - IEA calls on ASEAN to accelerate its energy transition

The IEA called on ASEAN to accelerate its energy transition

The International Energy Agency's (IEA) Southeast Asia Energy Outlook recently pointed out that in order to improve energy security and achieve emission reduction targets, ASEAN countries need to improve energy efficiency, accelerate renewable energy generation and switch
to low-emission fuels.

According to the Southeast Asia Energy Outlook, the economic growth of the 10 member countries of the Association of Southeast Asian Nations ranks among the highest
in the world.
According to its current policy, energy demand will grow by an average of about 3% per year by 2030, with three-quarters of that growth coming from fossil fuels, and CO2 emissions will increase by 35%
compared to 2020.
Therefore, it is particularly necessary
for ASEAN to receive international support for energy investment, especially in promoting technological innovation and infrastructure development (renewable energy, power grids, etc.
).

The IEA calls on ASEAN countries to make a clear commitment to introduce low-carbon energy sources and improve regulatory and financing frameworks to attract private investment
.
Southeast Asia is expected to become the world's leading producer of
important minerals such as nickel, tin and rare earths.
In addition, as a producer of solar panels and electric vehicles, ASEAN can also play an important role
in the global energy transition.