US$165 billion of renewable energy assets in Asean face high risk of climate hazards: report
Upfront investment of about US$13 billion to make these assets more climate-resilient can help avoid US$82 billion in losses
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[SINGAPORE] About 75 per cent of renewable energy generation sites across South-east Asia, including those that have been planned or are under construction, are at high risk of being severely affected by climate-related events by 2030.
That translates to about US$165 billion in value across the region’s renewable energy portfolio being at risk, indicated a report by Zurich Insurance released on Wednesday (Jun 10).
However, it found that an upfront investment of about US$13 billion – which is about 2 per cent of total asset value – to make these renewable energy assets more climate-resilient could help avoid US$82 billion in losses.
