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Enabling private sector clean energy investment in Southeast and South Asia

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Greenhouse gas (GHG) emissions in Southeast and South Asia accounted for more than 29 percent of total emissions in Asia and more than 15 percent of worldwide emissions in 2013 (World Resources Institute, 2013). 1 Governments in the region are working to achieve national climate change mitigation targets, reduce air pollution, and meet increasing demands for energy. Leading multinational and Asian corporations have embraced the business case for clean energy (CE). RE100 is a global initiative of the Climate Group and the Carbon Disclosure Project (CDP) that was established in 2014. It unites corporations that have made commitments to transition to 100 percent renewable energy (RE) sources of electricity in their worldwide operations.

More than 100 companies have joined (Climate Group/CDP, 2017). Increasing corporate commitments for CE can be a catalyst for broader changes in the energy sector. Electric utilities in the region are increasing their capacity to generate electricity from renewable sources and make the necessary complementary investments in the electric grid. Private investors and energy developers are seeking to increase investments in RE and energy efficiency, but still face challenges in obtaining sufficient financing on suitable terms. National and subnational governments are also seeking to scale up CE deployment. Realization of this potential will require actions by governments, utilities, corporations, project developers, investors, and development partners to enable and facilitate a CE transition. Leadership from governments and utilities is vital to implement policies, incentives, and grid management strategies that enable CE investment at scale, including integrating solar, wind, and other RE sources in the distribution network.

Continued commitments from corporations are critical to increase CE deployment. Project developers need to link with investors and financial institutions and governments. The deep dive workshop on “Enabling Private Sector Clean Energy Investment in Southeast and South Asia: Recommendations from Corporations and Governments” was held on June 5, 2017 as a pre-event to the Asia Clean Energy Forum 2017 in Manila, Philippines. The workshop engaged 167 participants from 25 countries. It highlighted recommendations and insights from private sector leaders on regional and country-specific actions that governments can take to accelerate investment in CE solutions in the region. It also showcased strategies and approaches of corporations, governments, utilities, investors, and development partners.

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