Climate fund targets clean energy investments in South-East Asia

File photo of coal barges queuing to be pulled along Mahakam River in Samarinda, East Kalimantan province, Indonesia. South-East Asian countries need to end their reliance on dirty coal energy now to meet their climate change pledges. — Reuters

A new climate fund backed by philanthropic donors is aiming to trigger US$2.5bil (RM10.6bil) of clean energy investment in South-East Asia and aid the region’s green recovery after the Covid-19 pandemic.

The South-East Asia Clean Energy Facility (Seacef) is managed by Singapore-based Clime Capital, with an initial investment of US$10mil (RM42.6mil) and a focus on getting new projects underway in Indonesia, the Philippines and Vietnam.