ASEAN, UK launch Clean Energy & Just Transition Pillar of GTF

ASEAN is now the world’s fourth-largest energy consumer, with energy demand projected to rise by up to 41 per cent by 2030, based on the 8th ASEAN Energy Outlook.

The region is expected to require at least $200 billion in annual energy investments to meet its growing energy needs, driven by a 15.2 per cent annual rise in energy consumption in 2022, surpassing pre-pandemic levels. This growth is attributed to rapid urbanisation and a rising population, underscoring the urgent need for a sustainable energy transition to mitigate climate risks and emissions.

As ASEAN advances its energy transition, driven by national ambitions and the imperative to reduce carbon emissions while safeguarding energy security and affordability, the Clean and Just Energy Transition Pillar of the GTF offers targeted support to ASEAN member states and Timor-Leste, an official UK government release said.

The pillar focuses on three key work streams: clean power systems, green grids and industrial decarbonisation, with a strong emphasis on inclusivity and regional collaboration.

“Through the ASEAN-UK Green Transition Fund, we are bringing investment and expertise to support a clean and just energy transition across the region—from green grids and clean manufacturing to public-private partnerships. Together, we can harness the potential of clean energy and drive inclusive, climate-resilient growth across ASEAN region,” UK ambassador to ASEAN Helen Fazey said.

The event showcased UK business and commercial expertise in energy interconnection and finance, discussing the opportunities for energy.

The panel explored innovative business models for coal transition, the benefits of the ASEAN Power Grid (APG) and opportunities for industrial decarbonisation. It also highlighted the role of public-private partnerships as key to mobilising investment for clean energy infrastructure.

ALCHEMPro News Desk (DS)