Green finance can help ensure the energy transition is a just one

LOOK around Asia and it is not hard to see signs of positive momentum in efforts to lower greenhouse gas emissions: from Singapore’s ambitions to import solar power from Australia via subsea cable, to India’s increased wind and solar generation. In Thailand and Malaysia, pilot schemes for green hydrogen and fuel cell systems are being launched.

The region’s green energy evolution is picking up pace, with promising steps in the right direction – but Asia remains heavily dependent on fossil fuels for now.

The region’s reliance on fossil fuels has been driven by extraordinary changes in the past 20 years. Rapid economic and population growth has meant surging demand for energy, with generation capacity in South-east Asia now around four times greater than in 2000.