The Hanoitimes - South East Asian (SEA) countries can ensure continued economic growth and prosperity, keep pace with the related growth in energy demand, and meet their Nationally Determined Contributions (NDCs) toward the Paris Agreement.
The governments of Canada, France, Germany, the United Kingdom’s Department for Business, Energy and Industrial Strategy and global philanthropies on September 26 announced the beginning of a new collaboration at the One Planet Summit in New York to accelerate the energy transition in partnership with countries in South East Asia.
South East Asian countries can ensure continued economic growth and prosperity, keep pace with the related growth in energy demand, and meet their Nationally Determined Contributions (NDCs) toward the Paris Agreement.
The fall in the cost of renewable energy, the untapped renewable energy potential in South East Asia, and the lessons learned from increasing renewable energy penetration globally presents an opportunity for South East Asian countries to accelerate the energy transition and meet their Paris commitments.
The partnership announced today aims to consolidate international support for the energy transition in South East Asia, and help promote the right market conditions for the region’s thriving private sector to ramp up investment.
“South East Asia is home to growing economies and innovative companies, and it can help lead the global charge in adopting clean energy and reducing fossil fuels,” said Michael R. Bloomberg, founder of Bloomberg Philanthropies and UN Special Envoy for Climate Action.
“That will bring major benefits to cities and countries in the region, by reducing deadly air pollution and creating new jobs. Public private partnerships can help speed progress, and our foundation is glad to play a role,” he added.
Canada, France, Germany, and the UK will offer financial resources and make technical assistance available to accelerate the energy transition.
Mr. Bambang Brodjonegoro, the Republic of Indonesia’s Minister of National Development Planning, welcomed the announcement: “Indonesia is poised to deliver on the transition to a low-carbon future that delivers economic and environmental security, and helps to meet the crucial Paris and Sustainable Development Goals. We welcome partnerships such as this that can help accelerate our goals and catalyse investment.”
Ms. Catherine McKenna, Canada’s Minister for Environment and Climate Change said: “Canada is proud to be taking action at home and abroad to protect the environment and grow the economy. Making the important and necessary transition to a clean economy, and helping developing countries in that transition, will ensure a healthier and more sustainable future for our kids and grandkids.”
Mr. Jochen Flasbarth, State Secretary at Germany’s BMU stressed: “Action is urgently needed in South East Asia if the world is to deliver the commitments to tackle climate change made in Paris in 2015. However, accelerating the uptake of renewable energy and energy efficiency is also a golden opportunity to lock-in long-term prosperity and a secure, affordable energy supply for South East Asia’s citizens in the future.”
Global philanthropies – including Bloomberg Philanthropies, the Children’s Investment Fund Foundation (CIFF), ClimateWorks Foundation, the European Climate Foundation, Growald Family Fund, the William and Flora Hewlett Foundation, IKEA Foundation, OIF and the Sea Change Foundation – have agreed to leverage their respective strengths and maximize their collective impact, building on and extending existing partnerships with the region.
This innovative partnership will allow for coordinated support and faster action, and is intended to encourage other governments and philanthropies to join.
Sir Christopher Hohn, co-founder of CIFF said: “This partnership will provide South East Asian policymakers with the evidence and expertise required to make the transition to renewable energy happen. By doing so, the region can make a material contribution to achieving the Paris goals and ensure continued economic growth and prosperity.”
The Honourable Loren Legarda, Senator of the Philippines emphasized: “We welcome this commitment from the philanthropic and climate finance donor community to support our country’s efforts to transition towards cleaner energy. This partnership further incites us to transform and rethink the way we should rebuild energy and infrastructure, towards a new path where our people and communities can truly be able to survive and thrive.”