Climate change is an urgent challenge impacting livelihoods across Southeast Asia, driving the need for a swift transition to a low carbon economy.
In his Keynote Address, H.E. Phouvong Luangxaysana, Vice Minister of Natural Resources and Environment, Lao PDR, shared the country’s strategy for achieving net zero emissions by 2050 and offered insights on unlocking Southeast Asia’s decarbonisation potential.
H. E. Phouvong Luangxaysana emphasised that climate change is no longer a distant threat but a pressing reality. He reaffirmed the country’s commitment to achieving net zero emissions by 2050, backed by national policies, including the National Strategy on Climate Change.
Positioned at the heart of Southeast Asia, Lao PDR is a leader in renewable energy, particularly hydropower. There are 81 operational hydropower plants in the country, serving both domestic and regional needs.
Lao PDR aims to diversify its energy portfolio by increasing the share of solar, wind, biomass, and biogas, while also promoting green energy in the transport sector. “Diversification is crucial to meeting national and regional energy needs while ensuring environmental sustainability,” said H.E. Luangxaysana.
Financing critical for successful renewable energy projects
The government of Lao PDR estimates that US$4.6 billion is needed to meet the country’s conditional nationally determined contributions(NDC) target, highlighting the need for innovative financing mechanisms and international cooperation.
H. E. Luangxaysana added that public-private partnerships could help bridge the gap. He concluded by sharing how industry stakeholders, governments, multilateral institutions, and the private sector have a pivotal role to play in advancing Lao PDR’s energy journey and Southeast Asia’s decarbonisation potential.
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