US$165 billion of renewable energy assets in Asean face high risk of climate hazards: report

[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.