COP28: S-E Asia faces both hurdles and opportunities
The conference is still another chance, as messy as it may be, for countries to find common ground
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THE upcoming United Nations climate summit (COP28) will be critical for South-east Asia. The region, home to over 600 million people, is rich in biodiversity, but also increasingly vulnerable to the effects of climate change. Both decarbonisation and climate adaptation efforts need to be stepped up in this region simultaneously.
The energy transition will be a key topic at COP28. The world urgently needs to wean off fossil fuels, but this has been difficult with soaring inflation. South-east Asia especially is in a tough position: coal is king in the region, generating about 60 per cent of Indonesia’s electricity. In Vietnam, thermal coal imports hit a three-year high in mid-2023, as air-conditioner use spiked during a brutal heatwave.
Shifting from coal to cleaner energy sources will be painful, considering that the region has coal plants that are relatively young or still in the pipeline to be built. To phase down coal assets, South-east Asian countries will also need to be assured that the rest of the world is going to decarbonise in tandem, an expert from consulting firm BCG recently told The Business Times. COP28 is a vital forum for the region to build consensus around this transition and set realistic targets.
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