Green Economy
Southeast Asia has an outsized role to play in the global push for decarbonisation to achieve net zero. The region derives 80% of its energy needs from fossil fuel and contributes to 70% of global emissions from land use change and forestry.
Already, eight out of 10 ASEAN countries have Net Zero or carbon neutrality commitments, and there is immense potential for renewable energy development, especially in Indonesia, Vietnam, Thailand and Malaysia. As the region increases the financing, production and distribution of renewables, Singapore is expanding its ecosystem of innovators, financiers and project developers looking to enable this shift.
Southeast Asia’s biodiversity and abundance of natural resources as well as strategic importance as an industrial hub mean there is strong potential for nature-based solutions. The region is tipped to unlock S$407 billion in additional annual revenue from green investments by 2030. Already, the size of private green investments in Southeast Asia has grown by 20 per cent from 2022, to S$8.5 billion in 20233, reflecting the significant opportunities for businesses looking to invest in Southeast Asia's green economy.
