AS EVIDENCE of climate change continues to mount, global efforts to decarbonise have taken on a new urgency. Energy providers have a significant role to play and are unsurprisingly dealing with heightened pressure from regulators and investors to curb emissions while supporting energy security and affordability.

Renewable energy provides a path forward. Volatility in the natural gas market and geopolitical shocks have made it necessary for countries to diversify their energy mix and reduce their reliance on gas. Governments are keen to fill supply gaps with renewable energy, but for that to happen, the renewables sector needs emerging technologies and markets to take a major leap forward.

With many Asean countries experiencing strong growth in electricity demand, regulators and energy providers in this region face challenges in deciding the best energy mix and the supporting investments in the grid, to accommodate a higher share of renewable energy. The outlook is hopeful: According to the 59th EY Renewable Energy Country Attractiveness Index, the Philippines, Vietnam and Thailand are among the top 40 markets based on the attractiveness of their renewable energy investment.