Advancing Green Finance for ASEAN’s Net Zero Goals: ERIA–UNITEN Seminar Highlights Regional Strategies for Energy Transition
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Putrajaya, 5 May 2025: ERIA, in collaboration with Universiti Tenaga Nasional (UNITEN), successfully held a seminar titled ’Pushing Forward Financing ASEAN Net Zero’ in Putrajaya, Malaysia, on 5 May 2025. The event provided a platform for ASEAN Member States (AMS) to exchange insights and strategies for financing the region’s energy transition – a crucial pillar for achieving national and regional decarbonisation targets.
The seminar forms part of ERIA’s ongoing study on green finance in ASEAN, which aims to identify financial instruments and mechanisms tailored to the specific needs of each AMS in meeting their Nationally Determined Contributions (NDCs).
Key Takeaways
The seminar opened with remarks by Dr Fauziah Zen, Senior Economist at ERIA and project leader for the ASEAN Net Zero financing study. She emphasised that financing is the cornerstone of all climate commitments, calling it the ‘linchpin’ beneath decarbonisation pledges, ambitions, and targets.
This point was reinforced by keynote speaker Dr Siti Noor Baiti Mustafa, Principal Assistant Director at Malaysia’s National Energy Council, Ministry of Economy. Representing Malaysia as the current ASEAN Chair, she shared the country’s key initiatives in energy transition and its contribution to advancing the broader regional decarbonisation agenda.
Panel 1: Unlocking Green Financial Instruments
Moderated by Dr Fauziah Zen (ERIA), the first panel brought together experts to explore the potential of green, social, and sustainability (GSS) bond markets in ASEAN.
- Dr David Broadstock (National University of Singapore) discussed the evolving role of firms in driving green finance.
- Ahmad Lutfi Abdull Mutalip (Azmi & Associates) highlighted challenges and incentives faced by firms of varying sizes and shared Malaysia’s pioneering issuance of green Sukuk for renewable energy.
- Dr I Kadek Dian Sutrisna (PT Sarana Multi Infrastruktur, Indonesia) outlined PT SMI’s support for sustainable infrastructure through green bonds, de-risking tools, grant schemes, and credit enhancement facilities.
Panel 2: National Experiences in Financing the Transition
The second panel, moderated by Dr Nor Salwati Othman (UNITEN), focused on country-specific approaches and challenges:
- Teuku Riefky (University of Indonesia) discussed the financing gap posed by coal dependency and shallow capital markets.
- Dr Nattapong Puttanapong (Thammasat University) reviewed Thailand’s efforts to decarbonise amidst growing public debt.
- Dr Chang Young Ho (Singapore University of Social Sciences) explored Singapore’s experience with carbon pricing and its economic implications.
- Dr Sothea Oum (National University of Management, Cambodia) presented Cambodia’s unique position as a Least Developed Country (LDC) navigating the road to net zero.
The seminar was marked by active engagement from UNITEN faculty, students, and representatives from government ministries and Tenaga Nasional Berhad. In his closing remarks, Prof. Izham Zainal Abidin, Deputy Vice-Chancellor (Academic & International) of UNITEN, expressed his hope that the discussions would inspire sustained momentum for green finance in the region.
UNITEN Campus Visit and Strategic Meeting
Following the seminar, the ERIA delegation toured UNITEN’s newly established National Energy Centre at the Kajang campus. The Centre will serve as a hub for energy research and regional collaboration.
The visit concluded with a high-level meeting between the ERIA team and UNITEN leadership:
- Prof. Khairul Salleh Mohamed Sahari, Vice-Chancellor
- Prof. Dato’ Ts Mohd Zamri Yusoff, Deputy Vice-Chancellor (Research & Innovation)
- Prof. Bakhtiar Alrazi, Dean of UNITEN Business School
The discussion focused on current joint projects and explored future collaboration opportunities in support of ASEAN’s energy transition and sustainable development agenda.