Australia is considering partnering with the Association of Southeast Asian Nations (ASEAN) as investors, or collaborators in the developing renewable energy sector.
According to a report by Rappler, In line with Australia’s goal of having net-zero emissions by 2050, all of ASEAN’s neighbors—aside from the Philippines—aspire to accomplish the same.
Indonesia, meanwhile, set a 2060 deadline for net zero.
Furthermore, officials in Canberra are also eyeing the region to share their renewable energy market like green hydrogen.
This is because Australia’s Envoy for Southeast Asia, Nicholas Moore, said that Southeast Asia is considered a center for global growth.
In 2022, Australia named ASEAN as its biggest trading partner, with over AUD 178 billion in a two-way trade. However, it pales in comparison to the two-way trade with China, amounting to AUD 300 billion in the same year.
Southeast Asia’s (SEA) energy needs are expected to double by 2050, according to the International Energy Agency (IEA), and this growth in demand is expected to coincide with an increase in RE demand, in line with the Paris Agreement targets.
