On July 25, Energy Foundation China (EF China) and the Asia Society Policy Institute (ASPI) co-hosted our second dialogue on the theme of China’s cooperation with Southeast Asia to support more ambitious clean energy transition by 2030. More than 40 experts and leaders of international organizations from China, Thailand, Indonesia, The Philippines, and other countries joined the dialogue, which was focused on grid planning capacity building for renewable energy, financing models for renewable energy projects, diversification of project funding sources through innovative financing tools and information sharing, as well as development and expansion of clean energy supply chains. Aiming at providing policy recommendations for more clean energy investment in Southeast Asia, attendees of the online dialogue discussed challenges of clean energy financing in the region, and cooperation of China and Southeast Asian countries in terms of policy, investment, and trade.

Zou Ji, CEO and President of EF China, pointed out that all stakeholders, including governments, enterprises, financial institutions, academic institutions, and non-governmental organizations, should work together to promote the deployment of non-fossil energy, especially renewable energy, in Southeast Asia through favorable policy and capacity building. He appealed to establish partnerships to achieve the goals, and said that amid geopolitical complexity, the collaboration of the Belt and Road Initiative and the Just Energy Transition Partnership in Southeast Asia’s energy transition is critical to advancing shared global climate goals.

Daniel Russel, Vice President of ASPI, said that reducing the financing risks of renewable energy projects and diversifying funding sources would make clean energy investment a catalyst for sustainable development in Southeast Asia.

Experts also pointed out that economic prosperity in the region is as important as decarbonization, and that economy and energy security concerns should be taken care of when stakeholders try to advance renewables. Member states of the Association of Southeast Asian Nations (ASEAN) should improve their business and investment environment and reduce risks to attract more investment in renewable energy, the experts said. They believed that the challenges of energy transition in the region are huge and China can play a more active role in helping with the transition and the region’s other economic efforts through cooperation with global and local stakeholders in ASEAN countries.

Prominent guests present also included Philip Andrews-Speed, Senior Research Fellow of the Oxford Institute for Energy Studies; Hongpeng Liu, Director of Energy Division of the United Nations Economic and Social Commission for Asia and the Pacific; Zulfikar Yurnaidi, Senior Officer of Sustainable Energy, Renewable Energy, and Energy Efficiency of ASEAN Center for Energy; Fabby Tumiwa, Executive Director of the Institute for Essential Services Reform Indonesia; Suwit Khunkitti, Vice Chairperson of the Asian Institute of Technology Thailand; Renato Redentor Constantino, Managing Director of Constantino Foundation Philippines; Yongping Zhai, Senior Advisor of Carbon Neutrality Strategy of Tencent China; Xiansheng Sun, Chair of International Society for Energy Transition Studies China; and Yihua Liu, Deputy Division Director of Market Policy at Export-Import Bank of China.