Key Points

• ASEAN Member States’ Commitment to the 1.5°C Goal on the Road towards COP30: In the third quarter of 2025, Cambodia has submitted its updated Nationally Determined Contribution (NDC) in the United Nations Framework Convention on Climate Change’s third round of submission. The new NDC brings more comprehensive climate commitments with a total of 163 measures comprising 49 mitigations measures. The country pledges to avoid up to 55% of its emissions (equivalent to around 73.7 million tonnes of carbon dioxide equivalent (MtCO₂e)) by 2035 under its conditional scenario and another 16% reduction under its unconditional scenario.
• New Energy-Climate Financing Across Southeast Asia: The ASEAN Power Grid received over USD 12 billion in pledges from the Asian Development Bank (ADB) and World Bank (WB), to boost clean energy and power trade under the ASEAN Power Grid Financing Initiative (APGF). Other highlights include Cambodia’s a USD 52.72 million loan from the ADB for its Grid Expansion Project, aimed at strengthening the national transmission network and integrating more renewable energy. Indonesia’s sovereign has signed a Memorandum of Agreements with Saudi Arabia’s ACWA Power to explore renewable energy investments totalling up to USD 10 billion. Singapore has secured SGD 677.7 million (approximately USD 510 million) under the Green Investments Partnership for green and sustainable infrastructure in Southeast and South Asia.
• ASEAN’s Progress in Energy and Climate Change Cooperation: The Philippines is receiving support from the United Kingdom to advance cooperation on climate finance, carbon markets, marine protection, and critical minerals for the green transition. Viet Nam strengthened energy cooperation through the Truong Son Wind Power Complex’s commercial operations, adding renewable power to Viet Nam’s grid and supports local communities through over USD 20 million in social and infrastructure projects.
• Carbon Policy Advancements in ASEAN and Beyond: Singapore is leading the way in advancing carbon policy. It has officially partnered with Thailand and Viet Nam making it possible for the Singapore Government and carbon tax-liable firms to buy eligible carbon credits in both countries. Moreover, the Philippines has established a carbon trading policy framework for the energy sector, serving as a guideline to access carbon finance and prepare for future carbon market mechanisms.