Policy and Finance to Achieve the COP28 Energy Efficiency Target for ASEAN

Mark Hinnells

Chapter 5 in Green Finance and Energy Transition in ASEAN, 2026, pp 127-168 from World Scientific Publishing Co. Pte. Ltd.

Abstract: COP28 set a goal of doubling energy efficiency improvements by 2030. This means enhancing energy efficiency across all sectors, from appliances and equipment, buildings, vehicles, and commercial and industrial processes. This chapter examines the issues, barriers to rapid improvement, and policy options to inform Nationally Declared Contributions (NDCs). Energy demand is expected to double or more over the period to 2050. There is a stock of equipment, which can take many years to replace. Efficiency improves slowly unless equipment replacement cycles are accelerated. Energy efficiency is an important part of energy planning. Greater energy efficiency can reduce or postpone the need for energy generation and grid infrastructure. It also implies reduced or changed investment. One approach is to change the products manufacturers offer to the market through a mix of information (e.g., energy labels), incentives to promote innovation in supply (e.g., tax benefits or rebates for the better products), and minimum standards to eliminate the worst products. This process has become known as market transformation (e.g., Hinnells and Boardman, 2009). Such an integrated approach has only been partially implemented in ASEAN. Thus, the chapter offers an approach to drive efficiency using additional policy and finance to achieve the 4% per annum improvement goals set out in COP28 for ASEAN through market transformation.

Keywords: Green Finance; Energy Transition; ASEAN; Carbon Neutrality; Renewable Energy; Sustainable Finance; Climate Finance; Energy Policy; Green Bonds; Net-Zero; Transition Finance; Clean Energy Investment; Sustainable Development; Decarbonization; Climate Change Mitigation; ESG (Environmental; Social; and Governance); Low-Carbon Economy; Energy Markets; Financial Mechanisms for Sustainability; Energy Efficiency; Foreign Direct Investment (FDI) in Energy; Carbon Pricing; Policy and Regulation; Just Transition; Green Sukuk; Sustainable Infrastructure; Public-Private Partnerships (PPP); Institutional Investors in Clean Energy; Green Investment Strategies; Financing Renewable Energy; Southeast Asia Energy Policy; China Energy Investment; ASEAN Climate Goals; Energy Security in ASEAN; COP28 and Energy Transition; COP29; Economic Growth and Green Energy; Sustainable Power Systems; Carbon Markets in Asia; Green Hydrogen in ASEAN; Electrification and Smart Grids (search for similar items in EconPapers)
JEL-codes: G23 O13 Q01 Q40 Q50 Q56 (search for similar items in EconPapers)
Date: 2026
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.worldscientific.com/doi/pdf/10.1142/9789819815708_0005 (application/pdf)
https://www.worldscientific.com/doi/abs/10.1142/9789819815708_0005 (text/html)
Ebook Access is available upon purchase.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:wschap:9789819815708_0005

Ordering information: This item can be ordered from

Access Statistics for this chapter

More chapters in World Scientific Book Chapters from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().