Key Points

• Progress in the Energy-Climate Investment: Climate financing in the regions are significantly increasing investments in renewable energy, supported by a range of funding sources and partnerships, leading various clean energy initiatives to meet their climate targets. 
• Fostering Sustainability Through Innovation and Cooperation: ASEAN countries are advancing renewable energy technologies through national initiatives and international partnerships. For instance, Malaysia’s EV infrastructure, Singapore’s hydrogen research, Thailand’s solar projects, the Philippines’ geothermal initiatives, and Vietnam’s green hydrogen production plans. 
• Navigating Carbon Pricing Initiatives Across ASEAN: Carbon markets are growing in ASEAN countries with developing carbon pricing policies and trading mechanisms to support emissions reduction. Including Malaysia’s carbon credit auction, Thailand’s Bonds Plus Carbon Credit and carbon tax, and the Philippines enacting a carbon pricing framework to support a low-carbon economy.