Protectionism must not be allowed to derail green transition, energy security

Malaysia Sun

6 hours ago

KUALA LUMPUR, June 16 (Xinhua) -- Protectionism and geopolitical tensions must not be allowed to threaten the transition to green technologies and energy security, Malaysian Prime Minister Anwar Ibrahim said here on Monday.
Considering the long-term nature of these challenges, efforts to provide security against such disruptions must be a top priority to ensure the stability of the global economy and the continuation of human growth and development, Anwar said in his keynote address at the Energy Asia 2025 conference.
"Geopolitical tensions, retaliatory tariffs, and disrupted supply chains have fueled uncertainty; eroding the predictability, reliability and stability that global trade and economic systems once offered," he said.
"This fragility is perhaps most evident in the energy and climate domain. Rather than fostering collaboration, we are witnessing polarizing policy shifts driven by strategic competition, even as energy security remains out of reach for many," he said.
As part of efforts to build resilience against such disruptions, Anwar suggested a clear and coherent financial architecture that inspires investor confidence and mobilizes greater capital flows into renewable energy projects across Southeast Asia, as well as upgrading electricity grids, which will pave the way for an accelerated adoption of green technologies.
"This is critical, given that in 2023, Southeast Asia attracted only 2 percent of global clean energy spending -- a stark contrast for a region endowed with immense potential in renewable energy: wind in Vietnam, hydropower in Laos, solar in Malaysia and geothermal energy in Indonesia," he said.
"At the recent ASEAN Summit, we took a significant step forward by accelerating the ASEAN Power Grid (APG) initiative through an enhanced memorandum of agreement and the establishment of a dedicated APG financing facility network. This will enhance cross-border funding flows and bring us closer to a truly integrated regional energy market," he explained.
Anwar also noted the progress that Malaysia has made as chair of ASEAN in putting dialogue and multilateralism first and building strong ties with major energy exporters in the Gulf Cooperation Council (GCC), noting the successful inaugural ASEAN-GCC-China summit last month.
"Here in Asia, we hold fast to the belief that diplomacy prevails over autocracy, and healthy competition can coexist with mutually-beneficial outcomes," he added.
The conference gathers representatives from 38 industries across more than 60 countries and regions under the theme "Delivering Asia's Energy Transition," bringing together policymakers, industry leaders and energy professionals to align strategies and pragmatic solutions that meet the unique challenges and opportunities of developing and emerging economies.