Gas and coal demand is up in South and Southeast Asia, as governments look to get people enough power for live-saving air-conditioning. Greener solutions come with steep price tags, and policy momentum is not guaranteed, experts say.
Several changes to the country’s power development strategy had been made in a span of two years. The regional manufacturing hub has agreed to ditch coal by 2050, and is looking to feasibly make up for the shortfall with renewables and gas.
Japan-based academic Kim Schumacher, who coined the term "competence greenwashing", believes that the pursuit of societal harmony might be standing in the way of Asia calling out greenwashing. He tells the Eco-Business Podcast how exaggerated ESG claims are likely to be tackled in 2023 and beyond.
The Malaysian government also doubled its targeted renewable energy capacity by 2050 and announced that it will allow for the development of self-contained renewable energy systems. More details are to be announced.
In a region where large hydro projects and expanding biofuel plantations coincide with an upcoming coal phaseout, a laissez-faire approach could worsen existing inequalities and mar the success of a clean energy buildout.
A political firestorm has engulfed clean energy permitting, future plans are in limbo and project developers are cutting manpower in the country that holds some 70 per cent of renewables capacity in Southeast Asia.
Malaysia needs a massive shift towards electric vehicles to decarbonise its transport sector and achieve its goal of becoming a carbon-neutral nation by 2050. However, high vehicle prices and a lack of infrastructure are hampering efforts. Malaysia needs a long term and sustainable solution to develop its e-mobility ecosystem, say analysts.
Former Monetary Authority of Singapore sustainability chief Darian McBain and recruiter Paddy Balfour tell the Eco-Business podcast why people are exaggerating their ESG expertise and why that's a problem in a key region for sustainable development.
The proposal has been discussed twice in Cabinet meetings and the government is also looking into reducing electricity subsidies, though experts say this is something that will take 'more than just political will' to push through.