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Southeast Asia's renewable energy investment potential of $205 billion could benefit China, Japan and South Korea as the region's largest energy lenders
in smaller countries, Greenpeace said in a new report.
Insung Lee, project manager for Greenpeace Japan's Climate and Energy team, said: "These three East Asian countries are the world's largest energy investors, and as coal financing is drying up and banks are struggling to rein in clean energy finance, the climate crisis largely depends on the flexibility and ingenuity of
East Asian finance.
”
The report predicts that over the next decade, Southeast Asian countries will transition to renewable energy rather than sticking to fossil fuels, which means about $125.
1 billion in solar investment and $48.
1 billion in wind investment
.
Insung Lee said, "East Asian finance is as important
to renewable energy in Southeast Asia as coal.
Over the past two decades, despite a surge in financial risks, we have seen East Asian bank profits skewed toward coal to keep fossil fuels profitable
.
Over the next decade, we'll see them unleash the renewable energy financing dividend with the same creativity
.
”
Southeast Asia's renewable energy investment potential of $205 billion could benefit China, Japan and South Korea as the region's largest energy lenders
in smaller countries, Greenpeace said in a new report.
Insung Lee, project manager for Greenpeace Japan's Climate and Energy team, said: "These three East Asian countries are the world's largest energy investors, and as coal financing is drying up and banks are struggling to rein in clean energy finance, the climate crisis largely depends on the flexibility and ingenuity of
East Asian finance.
”
The report predicts that over the next decade, Southeast Asian countries will transition to renewable energy rather than sticking to fossil fuels, which means about $125.
1 billion in solar investment and $48.
1 billion in wind investment
.
Insung Lee said, "East Asian finance is as important
to renewable energy in Southeast Asia as coal.
Over the past two decades, despite a surge in financial risks, we have seen East Asian bank profits skewed toward coal to keep fossil fuels profitable
.
Over the next decade, we'll see them unleash the renewable energy financing dividend with the same creativity
.
”
