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Co-hosted by Singapore and the International Energy Agency (IEA), the Singapore-IEA Ministerial Forum will discuss the opportunities and challenges on decarbonisation in the Asia Pacific and beyond.
Theme: Unlocking Southeast Asia’s Decarbonisation Potential
Southeast Asia could become a global leader in the energy transition. Today, the region is home to nearly 10% of the world population and accounts for 6% of global GDP. It is a major engine of economic growth and has an outsized influence in global energy. The collective GDP of countries in Southeast Asia has nearly tripled since 2000, outpacing growth in global GDP over this period. Clean energy investment in the region was nearly USD 30 billion in 2022, and this looks to more than double by the end of this decade.
With Southeast Asia’s energy demand set to increase significantly over the coming years – driven by population growth, economic activity, urbanisation and demographic shifts – ASEAN countries face the challenge of meeting increasing demand, while keeping aligned with political goals on the region’s clean energy transition. Strong policy action and investment is needed to turn challenges into opportunities, and unlock the region’s decarbonisation potential.
On 21 October 2024, Singapore and the IEA will formally open the IEA Regional Cooperation Centre in Singapore, to enhance the IEA’s collaboration with Southeast Asia and beyond. This will be the IEA’s first office outside of its headquarters in Paris, France. Building on the key messages of the IEA’s 2024 Southeast Asia Energy Outlook, which will be released as part of the Forum, this gathering will examine how the Centre can best work with economies across the region to enhance energy security and accelerate clean energy transitions.