Countries in the Asia-Pacific region (APAC) should unlock their offshore wind potential on top of onshore power generation as part of their net zero targets, amidst rising demand, energy analysts said. “If countries are going to continue their decarbonisation strategies, offshore wind is a key part of that solution,” Grant Hauber, strategic energy finance adviser for Asia at the Institute for Energy Economics and Financial Analysis (IEEFA), told Asian Power.  

The International Renewable Energy Agency (IRENA) unveiled a new partnership model that can accelerate renewable energy deployment and foster green industrialisation in Central Asia. The partnership was launched by IRENA at the COP29 Energy Transition Investment Forum for Central Asia. The two-day forum takes place at COP29 and is co-hosted by IRENA, the COP29 Presidency, and the Ministry of Energy of Azerbaijan bringing together to energy ministers from Azerbaijan, Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan and Uzbekistan.

As the economic toll of climate change grows, the Philippines’ private sector is urged to embrace net zero strategies to safeguard economic stability. “Today, there is no one and no place on the planet that is spared from the unprecedented fury unleashed by the increasing number – and more frequent occurrence – of extreme weather events supercharged by climate change,” said Federico Lopez, chairman and chief executive officer of First Philippine Holdings Corporation.

More clarity has been shed on Tenaga Nasional Bhd’s (TNB) hybrid hydro floating solar (HHFS) project, a key flagship initiative under the National Energy Transition Roadmap (NETR), as well as its Sungai Perak Hydro Scheme Life Extension Programme (LEP), which aims to prolong the life and enhance the earnings potential of the group’s hydro assets.

Just over two years ago President Joe Biden signed the Inflation Reduction Act into law, which was designed to boost the green economy through sustainable infrastructure projects across the country. The IRA’s Justice 40 provision set a goal that 40% of the overall benefits from the IRA flow to communities that “are marginalized and overburdened by pollution”.

The UN annual climate summit is now under way in Azerbaijan’s capital Baku, with thousands of representatives from the world converging in the South Caucasus nation for two weeks of negotiations over how to tackle the climate crisis. But the global summit has been overshadowed by the re-election of Donald Trump as United States president, who has expressed his intention to walk out of the landmark Paris Agreement for the second time. He is also likely to reduce the US’s carbon-cutting commitments critical in the transition to net zero.

Southeast Asia’s path to securing climate financing to address extreme weather impacts and ease the region’s clean energy transition appears fraught with challenges, including a persistent reliance on fossil fuels and new uncertainties around the United States’ climate commitments.

The Malaysia Pavilion at COP29 marks the country’s steadfast commitment to sustainability as it prepares to assume the ASEAN Chairmanship in 2025. Aligned with the pavilion’s theme, ‘Shift for Sustainability – Climate Action Now!’, the country is set to showcase its key climate action milestones, advocate for stronger intergovernmental cooperation on green initiatives, and promote the country’s advanced sustainable practices on the global stage.

Malaysia is closely watching for potential changes that may impact global and local economies following Donald Trump's win in the United States (US) presidential election. Economy Minister Mohd Rafizi Ramli said that while the government is awaiting new policy announcements from Washington, it remains prepared assess and adapt to any developments that could influence Malaysia's economic landscape.

Malaysia is considering nuclear energy as a primary energy source to achieve carbon neutrality by 2025, in line with the National Energy Transition Roadmap and the National Energy Policy.  The Science, Technology and Innovation Ministry (MOSTI) said this was seen as a proactive solution to the country's energy trilemma challenges of ensuring stability, sustainability, and energy efficiency.

Tenaga Nasional Bhd (TNB) has launched its inaugural Transition Finance Framework, becoming the first electricity utility player in Asean to do so. In a filing with Bursa Malaysia, the utility giant said the significant milestone highlights TNB's commitment to energy transition and supports Malaysia's decarbonisation agenda.

As ASEAN nations strive for energy security, decentralising the energy system has become a critical focus, according to Francesco La Camera, Director-General of the International Renewable Energy Agency (IRENA).