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Shifting systems - Asia energy: Funding the phaseout of coal

Report 14 January 2022, 16:18 GMT

With over 80% of the world’s coal capacity still generated in Asia and with only 15% of its energy demand supplied by renewable sources, the political economy is very well suited to existing and new coal development.

At this roundtable we brought together stakeholders from business, policy, civil society, and finance to discuss how to shift the political economy away from coal and create an environment where clean energy alternatives could become the norm.

Shifting Systems roundtable report

Download the Asia energy: Funding the phase out of coal report

This roundtable aims to:

  • Policy: Policies across the region continue to support and prop up coal investments and projects. What do we need to shift towards proactive and unified interventions from national and regional government?
  • Finance: Shifting finance away from coal projects across the region will be instrumental. We invite key public and private finance stakeholders from across the Asia -Pacific region to share how they plan to phase out coal investments in the climate decade.
  • Business: Large energy users and big corporates will play a crucial role in curbing and driving demand, but how do they work with governments, investors, and financiers in the regions?
COP26 roundtable participantion in action

Key recommendations

This report outlines the key recommendations from our senior stakeholders actively striving to make clean power the new normal across the region, which include:

  • National and regional policy makers need to create an attractive investment environment across all regions
  • Change the transition narrative
  • The green jobs story needs to be told more effectively
  • Address the challenges of the phase out of existing coal assets