ASEAN’s energy transition: how to attract more investment in renewable energy

Vakulchuk, Roman; Øverland, Indra; Suryadi, Beni

doi:10.1007/s40974-022-00261-6

Cited by 31 publications

(23 citation statements)

References 92 publications

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“…Energy transition is resource intensive. Southeast Asia would need to invest USD 27 billion in renewable energy every year to achieve the target of 23% renewables in the primary energy supply by 2025 (Vakulchuk et al., 2023). The region has the youngest coal power fleet in the world, with an average plant age of about 12 years in 2022 (Demoral et al., 2022).…”

Section: Demanding—no Easy Path For Energy Transitionmentioning

confidence: 99%

“…Previous studies have typically concentrated on specific aspects of technology, social factors, or the economics of Southeast Asiaʼs energy transition (e.g., Aleluia et al, 2022;Bai et al, 2023;Erdiwansyah et al, 2019;Gu et al, 2023;Vakulchuk et al, 2023). Some studies have discussed unique challenges faced by individual countries (e.g., Do et al, 2022;Guild, 2019;Le et al, 2023;Setyawati, 2020;Urban et al, 2018;Vaka et al, 2020).…”

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confidence: 99%

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Insider perspectives on Southeast Asiaʼs clean energy transition

2024

Asia & Pacific Policy Stud

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This paper offers essential insights into Southeast Asiaʼs transition to clean energy, a cornerstone for global climate objectives. Based on 27 interviews with regional energy and climate experts conducted between September 2022 and October 2023, the research distils key factors into 3Ds: Demanding, Doable, and Dependent. Highlighting these aspects would foster readiness, persuade stakeholders, and secure international support, all of which are pivotal for advancing the energy transition towards net‐zero emissions in Southeast Asia.

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Section: Demanding—no Easy Path For Energy Transitionmentioning

confidence: 99%

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confidence: 99%

Insider perspectives on Southeast Asiaʼs clean energy transition

2024

Asia & Pacific Policy Stud

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“…These policies range from tax credits and subsidies to feed-in tariffs and green bonds. Financial institutions are taking advantage of these incentives by directing their capital towards renewables (Vakulchuk et al, 2023). In addition to direct investments, financial institutions are also developing innovative financing mechanisms for renewables.…”

Section: Introductionmentioning

confidence: 99%

Innovations in the Energy Sector as a Powerful Catalyst for Financial Transformations

Strielkowski

2024

MMI

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Conventional wisdom often posits that financial innovations are the primary drivers of energy transitions, facilitating the shift from traditional fossil fuels to renewable sources. However, a nuanced examination of this relationship suggests a reciprocal dynamic where innovations in the energy sector can significantly propel financial transformations. The global pivot towards renewable energy sources necessitates substantial financial investments, thus catalyzing the emergence of novel financial instruments, green bonds, and innovative financing models dedicated to supporting the renewable energy sector. This interdependence between energy transitions and financial innovation reflects the adaptability of financial institutions to the evolving demands of sustainable energy initiatives. As societies increasingly embrace cleaner energy solutions, the financial sector responds by devising inventive strategies to underwrite these transitions. Highlighting the growing academic interest in this symbiotic relationship, the number of publications on energy transitions and financial innovations indexed in the Web of Science database has witnessed a remarkable increase from a mere 10 in 2015 to 113 in 2023, indicating a rapidly increasing field of academic research. This paper presents a comprehensive bibliometric analysis of the existing research literature on the interplay between energy transition and financial innovations. Utilizing a network analysis approach and the VOSviewer software – a tool renowned for its efficacy in uncovering prevailing trends and patterns in interdisciplinary research – the study aims to map out the intellectual landscape of this domain. Our findings elucidate that energy transitions do not merely benefit from financial innovations but can also act as potent drivers of financial change, as evidenced by numerous recent and historical examples. This reciprocal influence underscores the critical role of energy sector advancements in shaping financial practices and instruments. The study’s insights contribute significantly to the understanding of how energy transitions and financial innovations mutually reinforce each other, providing valuable implications for policymakers, investors, and researchers focused on fostering sustainable energy ecosystems and financial market resilience.

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“…Investment in renewable energy will pay off handsomely for Organization for Economic Cooperation and Development nations that use renewable energy at a specific level (Wang and Wang, 2020). Vakulchuk et al (2023) developed a review model to examine the reasons for not attracting more capital to ASEAN countries. Authors primarily focused on legislation, governance reform and investment climate and found that regulatory practices are not up to date, there is ubiquitous carbon lock-in, and no major pro-renewable energy governance reform in ASEAN countries has been implemented except for Malaysia and Vietnam.…”

Section: Introductionmentioning

confidence: 99%

Identifying the drivers responsible for energy security in selected ASEAN countries by using panel data analysis

Manni,

Hj. Md. Mansur

2023

IJESM

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Purpose Energy security has been talked about by governments and policymakers because the global energy market is unstable and greenhouse gas emissions threaten the long-term health of the global environment. One of the most potent ways to cut CO2 emissions is through the production and consumption of renewable energy. Thus, the purpose of this paper is to highlight the drivers that, if ambitious environmental policies are implemented, might improve energy security or prevent its deterioration. Design/methodology/approach The study uses a balanced panel data set for Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam that covers a period of 30 years (1990–2020). The pooled panel dynamic least squares is used in this study. Findings The findings show that renewable energy consumption is positively related to gross domestic product per capita, energy intensity per capita and renewable energy installed capacity. Wherein renewable energy use is inversely related to per capita electricity consumption, CO2 emissions and the use of fossil fuel electricity. Originality/value There is a lack of research identifying the factors influencing energy security in the ASEAN region. Therefore, this study focuses on the drivers that influence energy security, which are explained by the proportion of renewable energy in final energy consumption. Without identifying the demand and supply sources of energy, especially electricity production based on renewable energy techniques, it is hard for policymakers to achieve the desired renewable energy-based outcome.

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ASEAN’s energy transition: how to attract more investment in renewable energy

Cited by 31 publications

References 92 publications

Insider perspectives on Southeast Asiaʼs clean energy transition

Insider perspectives on Southeast Asiaʼs clean energy transition

Innovations in the Energy Sector as a Powerful Catalyst for Financial Transformations

Identifying the drivers responsible for energy security in selected ASEAN countries by using panel data analysis

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