2030 is now: Asia Pacific must act on energy transition

USD 11 trillion in new investments are needed to transform Asia Pacific's energy industry by 2030, opportunities abound for investors who can understand the region's complexities.

The reality that we need urgent action on climate change has become almost unarguable as the 2030 deadline for achieving the United Nations’ Sustainable Development Goals looms large. Asia Pacific – the growth engine of today’s global economy – remains at the epicenter of climate change.

As Asia Pacific’s economies shift up a gear, energy transition has become a priority for governments and businesses alike. Asia is the largest consumer of primary energy and the biggest emitter of carbon dioxide. Over USD 11 trillion in new investments will be needed in Asia to transform its energy industry by 2030. The decisions made on energy investment today will have major implications for the future, underscoring the importance of coordinated policy and clear cooperation across countries.

But each Asia Pacific market has its own distinctive characteristics, shaping their unique energy transition pathways. With the emergence of new technologies and business innovations, companies and investors need to reframe how they think about energy – and ultimately get prepared. This dynamic and complex transition is creating huge opportunities for energy companies, residential, commercial and industrial energy consumers, system planners and financial institutions.

In the report, written by ENEA and commissioned by BNP Paribas, it becomes clear that a sustainable energy transition can only be made possible through collective efforts and smart investments now will generate huge opportunities for those who take the time to understand and analyse the complexities of the Asia Pacific energy trilemma today.