Asean could reap RM1.43 trillion in extra revenues if green investments are scaled up, says report

Ramping up deployment of wind, solar and battery storage could help the region cut its reliance on coal and gas for power generation. - PHOTO: ST FILE

JAKARTA/SINGAPORE (The Straits Times): South-East Asia could unlock US$300 billion (S$407 billion - RM1.43 trillion) in additional annual revenues from green investments by 2030 if governments step up cooperation on regional grids and carbon markets and offer better incentives for clean energy and clearer rules on green financing, says a report released on April 15.

The rapidly growing region of nearly 700 million people remains heavily dependent on fossil fuels for energy. However, it faces a narrow window of opportunity to step up green investment to rein in the rapid growth of greenhouse gas emissions that are driving climate change, says the report by Bain & Company, GenZero, Standard Chartered and Temasek.