The renewable energy resource, which has received loan financing for exploration and early-stage drilling, could help shield the country from energy security risks brought about by the conflict in the Middle East, said Philippine energy secretary Sharon Garin.
Finalising ambitious climate targets, being self-reliant for climate funding and striving to uphold human rights aspects of critical minerals are ways the new Asean chair can steer the region to meet low carbon ambitions, amid geopolitical upheaval.
The bloc, whose energy demand is expected to nearly double by 2040, has been pursuing power grid integration since 1997 but technical and financial barriers have hampered progress. A new financing pact aims to change this.