According to the Jakarta Post, the impacts of climate change are especially relevant in the ASEAN region, which is one of the most climate-vulnerable regions in the world. Myanmar, the Philippines, Thailand, and Vietnam are already among the 10 countries in the world that have suffered the most in human and material terms from climate-related weather events over the past 20 years, according to Germanwatch’s Global Climate Risk Index 2019.
However, ASEAN could be the leader in the transition to low-carbon solutions. The region holds 25% of the world’s geothermal capacity, but it also encompasses around a quarter of the global nature-based solutions potential.
The region also has abundant natural resources including critical minerals for the energy transition. Indonesia alone accounts for 22% of the global nickel reserve while 18% of the global rare earth reserves are in Vietnam, according to the US Geological Survey (2023).
These minerals are critical for electric vehicles (EVs) and battery development, where the region has one of the largest market potentials – accounting for 20% of the global two-wheeler fleet (Electric Vehicle Outlook, BNEF, 2020).
This article was published HERE.
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