A pragmatic and balanced approach is vital to ensure a just and equitable energy transition for Asia, said Prime Minister Datuk Seri Anwar Ibrahim.
Speaking at the launch of Energy Asia 2025 on Monday (June 16), Anwar stressed that such an approach is crucial for the region’s sustainable development as it shifts toward renewable energy.
He acknowledged that meeting Asia’s growing energy demands while transitioning to cleaner sources will require substantial investment, and to attract this capital, Anwar called for clear and stable financial frameworks that build investor confidence and drive funding into renewable energy projects.
00:00Excellencies, ladies and gentlemen, energy demand in the Asia-Pacific surge in 2024,
00:21accounting for 50% of global consumption.
00:25And we are just starting to pick up pace.
00:30The region contributes 60% of global emissions.
00:34Yet, even as growth accelerates, our commitment to climate action remains resolute.
00:41In Southeast Asia, 8 out of 10 countries have set net zero targets.
00:47At COP28, ASEAN member states further affirm our resolve by pledging to triple global renewable energy capacity to 11,000 gigawatt by 2030.
00:57At the same time, as reflected in our national energy transition roadmap in 2023, we embark on a pragmatic and realistic approach.
01:10We know what our demands, the plight of the marginalized and underprivileged, the new demand for energy, data centers, AI, etc.,
01:25that would demand us or compel us when they take very strategic, realistic, pragmatic policies.
01:37So, we have to confront a central challenge.
01:43How do we deliver just an equitable energy transition for Asia, which will almost certainly require a significant increase in investments across a diverse range of energy projects.
01:57First and foremost, we must determine and articulate a clear and coherent financial architecture that inspires investor confidence and mobilizes greater capital flows into renewable energy projects across the region.
02:14I also qualify a realistic, pragmatic policy that would serve the requirements of our country and our region.
02:28This is critical, given that in 2023, South Asia attracted only 2% of global clean energy spending.
02:38A stark contrast for a region endowed with immense potential in renewable energy.
02:46Wind in Vietnam, hydropower in Laos, solar in Malaysia, and geothermal energy in Indonesia.
02:54We are not discounting these possibilities which require enormous investments.
02:59And again, I reiterate the theme of the thesis of my presentation is to accept the realities, the demand, at the same time, to craft a policy that seems to be realistic and pragmatic,
03:23and accept the dictates of the period, not the dictates of others.
