KUALA LUMPUR: Global interconnectedness is under strain due to rising uncertainties, eroding the predictability, reliability and stability of existing global trade and economic systems, said Prime Minister Datuk Seri Anwar Ibrahim.
Speaking at the Energy Asia 2025 on Monday (June 16), he said geopolitical tensions, retaliatory tariffs and disrupted supply chains have shaken the foundations of these systems, with the fragility most evident in the energy and climate sectors.
"Rather than fostering collaboration, we are witnessing polarising policy shifts driven by strategic competition, even as energy security remains out of reach for many,” he said in his keynote address at the Energy Asia 2025 opening ceremony here today.
Elaborating on the equitable energy transition for Asia, he said the region must determine and articulate a clear and coherent financial architecture that inspires investor confidence and mobilises greater capital flows into renewable energy projects.
"This is critical, given that in 2023, South-East Asia attracted only two per cent of global clean energy spending, a stark contrast for a region endowed with immense potential in renewable energy,” he added.
Zooming in on Malaysia, Anwar said that Malaysia is working to address the gap in the renewable sector through policies such as the Corporate Renewable Energy Supply Scheme (CRESS), which allows companies to procure clean energy via the national grid under a third-party access model.
"Efforts are also underway to incentivise green investment through mechanisms such as the Green Technology Financing Scheme, he added.
Touching on the critical pillar that advancing energy transition lies in upgrading electricity grids, Anwar affirmed that Asean has taken a significant step by accelerating the Asean Power Grid (APG) initiative through an enhanced memorandum of agreement and the establishment of a dedicated APG financing facility network.
"This will enhance cross-border funding flows and bring us closer to a truly integrated regional energy market,” he said. - Bernama
