British Chamber of Commerce Vietnam’s Post

🇲🇾 Malaysia aiming high on climate goals! 📉 45% carbon reduction target by 2030 ♻️ Focus on renewables, sustainable investment & collaboration ➡️ Challenges: building renewable capacity, just transition & balancing priorities ✅ Strong ESG framework & private sector action needed Let's support Malaysia's green future! Read here for a deeper dive ☕ #ClimateAction #Sustainability

As the world faces unprecedented climate challenges, Asia is leading the charge towards a #sustainableenergy future by leapfrogging over traditional carbon-intensive development, I have highlighted how countries like Indonesia and Vietnam are making bold moves to combat #climatechange, yet challenges remain in accessing #climatefinance, technology transfer, and capacity-building in my recent blog. Check it out to learn more about how prioritizing renewable energy adoption, investing in green technologies, and embracing innovative policies can help Asia build a more equitable and prosperous future: https://lnkd.in/ghXM2QCb #LetsChangeEnergy https://lnkd.in/g6mbTsRK Economist Impact events IRENA PLN

Well done to EMA and MTI in facilitating IEA set up its first office outside its Paris Headquarters. It bodes well for Singapore to act a Sustainability Steward Hub to countries and ecosystem players in the Asian countries looking for guidance and resources in their sustainable energy transition pathway. #Sustainability #ESG #Climatechange #Transitionfinance

Exciting news from the Asian Development Bank (ADB) and Thailand’s The Provincial Electricity Authority. ADB is partnering with PEA to launch its first sustainability bond, aiming to raise 1 billion baht (approximately $35 million). The funds will support PEA's renewable energy projects, including microgrid development and initiatives like submarine cables to enhance climate resilience. PEA is dedicated to achieving carbon neutrality by 2037, surpassing the national target by 13 years, and aiming for net-zero emissions by 2065, aligning with Thailand's government policies. This collaborative effort underscores a strong commitment to advancing sustainable energy practices and combating #climatechange. #sustainablefinancing

When thinking about country progress we can't just look at the level of renewable investment, we have to look at the context of growth. We know the China story - and it's an incredible story. Over $130 billion was invested in China in solar alone - where panel costs were 50% lower than in Europe and 65% cheaper than the US. Many other emerging countries are also rapidly expanding their renewable power generation.  South Africa, Chile and Argentina have grown their renewable generation share from 2020 to 2023 by 121%, 139% and 137% respectively... to name just three. This is great news. But the even better news is that most of these economies are now “power swing states” countries increasing their share of renewable generation faster than the growth of their power sectors. Businesses identify power markets as attractive investment opporutnities due to abundant natural resources, growing energy demand BUT MOST IMPORTANTLY a stable regulatory environment. For more on how business is seeing the transition, see the 2024 Business Breakthrough Barometer from WBCSD – World Business Council for Sustainable Development (supported by Bain & Company) for the latest insights from leading business across 11 critical sectors, and the policy priorities to unlock investments ➡️ www.wbcsd.org/barometer #BusinessBreakthroughBarometer #COP29 #BusinessAction

#RenewableEnergy is a key topic at #COP29. At the conference, the countries are expected to commit to increase the energy storage capacity by six times compared to 2022, reaching 1,500 gigawatts by 2030. Viet Nam focuses on sustainable energy to boost its growth. Nearly half of Viet Nam’s power already comes from renewable sources like solar, wind, and water. The country aims to meet over 95 per cent of its energy needs with renewables by 2050. We support Viet Nam’s path to a green economy: by helping shape essential policies, such as feed-in tariffs, to encourage investments in clean energy. Or with our training initiatives. They have empowered over 1,300 experts and 1,700 companies to implement energy management systems, creating thousands of green jobs and a strong network of women in the sector. Learn more about our work in Viet Nam: https://lnkd.in/dcUzh7Es Bundesministerium für wirtschaftliche Zusammenarbeit und Entwicklung (BMZ) Bundesministerium für Wirtschaft und Klimaschutz European Union GIZ Viet Nam

This year’s #COP29 is being hailed as the “Finance COP” because it is time for countries to set a new global goal to #FinanceClimateAction. But how can we increase investments in sustainable and renewable energy projects? #Compliance to #InternationalStandards assures investors of mitigated risks, which helps financial decision-making for clean energy projects. Join the discussions for an in-depth look at the issue from key players in global finance, standardization and renewable energy - International Renewable Energy Agency (IRENA), FAST-Infra Label, UL Standards & Engagement and #IEC together will look at how to effectively link finance and renewable energy initiatives. 📆 Session: Finance and standards for scaling renewable energy Thursday, 14 November, 8:45 -9:45 AZT at the #StandardsPavilion, B-15, Blue Zone at COP29 Or follow the livestream https://lnkd.in/d67mSmtS 👉 In the meantime, check out the far-reaching impact financing such projects can have – discover how the #IECGlobalImpactFund is empowering people’s lives with its first project in rural Kenya. https://lnkd.in/dxfvhieF 📷 A snapshot of IEC President Jo Cops speaking with the stakeholders on-ground at the site of IEC Global Impact Fund's first project in Kenya #Sustainability #PolicyForChange #EnergyAccess #IECRenewables #EnergyInclusion #IECEnergyAccess

The International Energy Agency reports that global investment in clean technologies is expected to reach $2 trillion this year, nearly double the expenditure on fossil fuels. Despite this significant investment, it falls short of the $4.5 trillion needed annually by the early 2030s to meet net zero emissions targets. The world has been talking about green supply chains, sustainable business practices, green finance, and reducing the carbon footprint for almost a decade now, we do see some improvements however global progress in clean energy development has been slow. There has been a significant increase in wind and solar capacity over recent years however, to meet the growing energy demands of major economies like China and India, it is also becoming an obstacle in shifting majorly to renewable resources. Nonetheless, green strategy is becoming a major investment driver even in the Gulf region now. As it is deemed as a long-term solution for limiting carbon emissions and protecting life on Earth, thereby increasing the sustainability of businesses and industries. #silkroadheritage #financialconsultancyfirm #greensupplychain #sustainablefinance #greenfinance

Africa accelerates its #renewableenergy #transition with the launch of the Accelerated Partnership for Renewables in Africa (APRA) at ##COP28. Led by IRENA, APRA targets a #renewable capacity increase from 56 GW to 300 GW by 2030, aiming to tackle #climatechange and fuel economic growth. Tailored strategies, private sector engagement, and collective action are emphasized to drive #sustainableenergy initiatives and foster #green #industrialization. APRA offers a promising pathway towards a future powered by #renewableenergy, ensuring inclusive economic growth across the continent. #RenewableEnergy #ClimateAction #AfricaDevelopment #climatechnage 

What’s preventing more finance from flowing into the energy transition? Last week, Gurīn Energy’s CEO, Assaad Razzouk, spoke on a panel discussion titled “Financing the Just Transition: Achieving Equitable Access to Sustainable Energy” at Singapore International Energy Week 2024. He said: “The problem, 99% of the time, isn’t about financial systems or financial capability. Clean energy is the cheapest source of energy in history and so if you ask what would drive decarbonisation faster, I don’t think the answer is finance. Finance for climate adaptation is already present locally. What you have to do is to get it to work - and to get it work it goes back to policy and frameworks. And very importantly: dismantling fossil fuel subsidies and putting a price on pollution.” #GurinEnergy #SIEW2024 #RenewableEnergy #CleanEnergy #EnergyTransition #Sustainability #Finance #Energy #Renewables #SolarEnergy #WindEnergy #EnergyStorage #Singapore