ACCELERATING ASEAN ENERGY TRANSITION

Abstract

Global growth over the past 50 years was underpinned by openness in trade, investment and skills. The digitalisation and the transition to renewable energy are the next phases. This paper examines the dynamics in the process of renewable energy in ASEAN in the context of changing global economic governance. The study is based on qualitative content analysis of policy narratives, industrial strategies, and regional cooperation initiatives that condition energy transitions. According to the findings, ASEAN’s renewable energy direction has four primary objectives, that are to enhance energy security, to restructure industrial supply chains, to foster regional cooperation, and, to empower ASEAN with more agency in global forums. In the real world, there are opportunities as well as challenges. Asean has potential as the region is rich in renewable resources and already established initiatives, for example the Asean Power Grid and green finance facilities. But the region remain lagging from the world average in the use of renewable energy, with most of the energy demand met by fossil fuels. National and local-level commitments are vital in driving the use of renewable energy, with the example of the district-level industrial strategies in China providing a case in point. The study shows that renewable energy not only contributes to a cleaner environment but is also imperative to ASEAN’s continued long-term growth and ability to compete globally in political and economic matters.