EICN KL: How to get Asia to Net Zero

According to the Economist Intelligence Unit, Asian economies will be the fastest growing in the coming decade. Their energy needs will increase. These countries are already among the worst affected by climate change, the costs of which will only rise. Meanwhile, the availability of fossil fuels will be influenced by geopolitics and internal political machinations. Asia’s success, and the well-being of its people, will depend on how fast it can green its energy supply.

Energy demand for ASEAN members is projected to increase by about a third of the EU’s current total by 2050. India alone will need additional capacity equivalent to that of today’s EU by 2040. It would be ideal if this extra demand is met by renewables, but fossil fuels continue to dominate the mix across the region, entrenched through subsidies and political favours.

What technologies are required? What mix of industrial policy and subsidies could help? What type of green financing across bankable projects is available? We’ll explore these themes.