Securing Asia’s Energy And Natural Resources Future

Securing Asia’s Energy And Natural Resources Future

Share to Linkedin As Europe teeters on the edge of recession and US growth stalls, Asia is driving global economic growth. This means not only resurgent demand for energy and natural resources, but also a pressing need to secure these commodities. Even as its carbon emissions continue to rise, energy security imperatives mean Asia continues to invest in domestic fossil fuels and is scrambling to lock-in imports of coal, oil and gas to drive growth. But this is not business as usual. Most now want to go much faster to decarbonise. This risks a two-speed energy transition across Asia as countries continue to rely on fossil fuels while simultaneously moving faster towards low-carbon technologies. Energy security at the top of the agenda Despite being home to half of the world's top ten carbon emitters, the push for energy security in the wake of the war in Ukraine has forced many Asian economies back to coal. Even at high prices, coal demand is resilient, with China and India ramping up production of cheap domestic resources. This has been underpinned by slow progress on impactful carbon costs and decarbonisation policies. Few Asian countries have yet shown the ambition to mirror the EU's