ASEAN affirms commitment to energy transition and sustainable development

The 43rd ASEAN Ministers on Energy Meeting concluded with many important initiatives towards energy security and sustainable development.

Delegates attending the 43rd ASEAN Ministers on Energy Meeting (AMEM-43) in Kuala Lumpur, Malaysia.

The 43rd ASEAN Ministers on Energy Meeting (AMEM-43) held in Kuala Lumpur has officially closed, marking many important results in strengthening regional cooperation on energy security and sustainable finance.

Speaking at a press conference after the conference, Deputy Prime Minister Datuk Seri Fadillah Yusof, Minister of Energy Transition and Water Transformation of Malaysia, announced that ASEAN has adopted important initiatives such as the Enhanced ASEAN Power Grid (APG) Memorandum of Understanding, the ASEAN Petroleum Security Agreement (APSA) and the ASEAN Action Plan for Energy (APAEC) 2026-2030.

One of the highlights of AMEM-43 is the ASEAN Power Grid Financing Facility (APGF), a joint initiative between the Asian Development Bank (ADB) and the World Bank (WB), to support cross-border power grid projects.

ASEAN also completed the Renewable Energy Long-Term Roadmap (RE-LTR), focusing on solar, hydropower, wind, and agreed on some elements of new frameworks on energy efficiency, transnational submarine power cables, and civil nuclear power.

Deputy Prime Minister Fadillah stressed the need to balance sustainable development and energy security. The share of renewable energy in ASEAN has reached 33.5% of total installed capacity and 14% of total primary energy supply in 2023, approaching the 2025 target of 35% and 23%.

ASEAN has received strong commitments from its partners on investment cooperation, green finance and technology transfer. The total value of investment commitments at the ASEAN Energy Business Forum (AEBF 2025) reached over 2 billion USD, focusing on renewable energy projects, smart grids and energy storage.

In the coming period, ASEAN aims to increase the proportion of renewable energy to at least 40% by 2030, expand the application of digital technology and Artificial Intelligence (AI) in grid management, and strengthen financial cooperation with global organizations such as ADB, WB, International Energy Agency (IEA) and International Renewable Energy Agency (IRENA).

Mr. Fadillah affirmed that Malaysia will continue to act as a strategic bridge between national priorities and regional agendas, towards a fair, inclusive and people-centered energy transition strategy in ASEAN.

The results of the 43rd AMEM Conference continue to demonstrate the determination of ASEAN member countries in strengthening regional cooperation to promote energy transition and actively contribute to the goal of building a green, inclusive, sustainable and prosperous ASEAN Community in the region.

Source: https://baoquocte.vn/asean-khang-dinh-cam-ket-chuyen-doi-nang-luong-va-phat-trien-ben-vung-331352.html