Some of the key highlights from the report are:
- Southeast Asia is a very dynamic region and a driving force behind global energy trends, with a projected rise in energy demand over the coming decades second only to India
- Eight of the ten countries in Southeast Asia have net zero emissions goals: Brunei Darussalam, Cambodia, Lao PDR, Malaysia, Singapore and Viet Nam have set a target date of 2050; Indonesia of 2060; and Thailand of 2065.
- Fossil fuels – led by coal – have met nearly 80% of Southeast Asia’s rising energy demand since 2010.
- At a time of heightened geopolitical tensions, energy security and affordability remain top priorities for Southeast Asia.
- The region’s energy future looks different from its past, but demand for all the major energy sources continues to rise in the STEPS.
- Renewables meet more than half of the increase in electricity demand in the STEPS to 2035, but their growth in Southeast Asia lags global trends
- Today’s electricity systems can accommodate higher shares of variable renewables across much of Southeast Asia but additional sources of flexibility – both for short-term and seasonal needs – will be needed as wind and solar deployment gains momentum.
- Biofuels, electrification, fuel economy standards and the development of public transport are key strategies to reduce Southeast Asia’s dependence on imported oil for transportation and to bring down emissions.
Access the complete report here
