Chart of the Week February 25, 2022: Renewable Energy in Mainland Southeast Asia Needs Far Below Desired Levels

Click for enlarged image | Graphic by Ge Yixuan

Summary

Southeast Asia is one of the regions most exposed to the dangers of climate change, as well as a major contributor of greenhouse gases. To combat climate change, the region must wean off its use of fossil fuels, and make a transition to the use of renewable energies. Scholars and analysts have also noted that if countries fail to make this transition, they will stand to lose billions in stranded assets. To this end, ASEAN has set a regional target of having 23% of its energy mix to be from renewable sources by 2025, while individual countries have set their own targets.

Yet, based on recent trends, Southeast Asian countries are sharply lagging behind their desired goals. Looking at three Southeast Asian countries – Indonesia, Malaysia, and Singapore – we can see that while there has been steady progress in including more renewable energy in their final energy consumption since 2010, the figures are still far below desired targets. Progress is also too slow to reach those targets by the set deadlines. Renewable energy barely takes up 10% of the final energy mix. These three countries, as with the rest of Southeast Asia, will need to greatly step up their efforts to make sure that they transition their energy systems in time. It is hoped that each individual country will do their part, but at the same time, the region can come together to support each other.

Highlights

  • ASEAN has set a regional target of having 23% of its energy mix to be from renewable sources by 2025, while individual countries have set their own targets.
  • Yet, based on recent trends, Southeast Asian countries are sharply lagging behind their desired goals. Renewable energy barely takes up 10% of the final energy mix. These three countries, as with the rest of Southeast Asia, will need to greatly step up their efforts to make sure that they transition their energy systems in time.

By Say Jye QUAH

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