• 3 minutes "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 9 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 2 days GREEN NEW DEAL = BLIZZARD OF LIES
  • 11 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 21 hours Energy Armageddon
  • 11 hours "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 11 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 5 days "Forget Oil, The Real Crisis Is Diesel Inventories: The US Has Just 25 Days Left" by Zero Hedge - 5 Stars *****
  • 5 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 5 days "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 5 days The Federal Reserve and Money...Aspects which are not widely known
  • 3 days Is Europe heading for winter of discontent with extensive gas shortages?
  • 6 days Goldman Betting on Cryptocurrencies
  • 10 days Сryptocurrency predictions
  • 14 days Putin and Xi Bet on the Global South

Southeast Asia’s $200+ Billion Renewables Opportunity

There is a $205-billion opportunity in renewable energy for Southeast Asia from which China, Japan, and South Korea could benefit as the biggest energy lenders to smaller countries in the region, Greenpeace has said in a new report.

“These three East Asian countries are top global energy investors, with established ties in Southeast Asia. But coal finance is drying up and banks are struggling to get a grip on clean energy finance. The climate crisis depends heavily on the flexibility and ingenuity of East Asian finance. And state-backed public development banks once again need to play the trailblazer role to engage new markets,” according to Insung Lee, project manager of Greenpeace Japan’s climate and energy team.

Southeast Asian countries, according to the report, will need investments of some $125.1 billion for solar energy over the next ten years, as well as $48.1 billion for wind energy, assuming they want to pursue the renewable energy path instead of sticking to fossil fuels. And China, Japan, and South Korea are in a position to convince them to choose the renewable energy path by investing in solar and wind rather than fossil fuels.

However, the report notes that the three East Asian powerhouses are also large exporters of coal infrastructure and lenders for coal power plants to their neighbors in Southeast Asia. This has to change if they are to reap the benefits of the nascent renewable energy financing market in the region, the report says.

“East Asian finance will be as important for renewable energy in Southeast Asia as it was for coal. Over the past two decades, we’ve seen East Asian banks skew the margins towards coal to keep the fossil fuel profitable despite ballooning financial risk. Over the next decade, we’ll see them apply the same ingenuity to unlock renewable energy from the restrictions of their own financial framework,” Greenpeace Japan’s Lee also said.

By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News