ENERGY TRANSITION: PROSPECT AND CHALLENGES AT ASEAN PLUS THREE COUNTRIES

Arnita Rishanty, Maxensius Tri Sambodo, Donni Anugrah and Retno Wicaksono
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Maxensius Tri Sambodo: Indonesian Institute of Sciences

No WP/08/2022, Working Papers from Bank Indonesia

Abstract: The energy transition is an important process to tackle the climate crisis due to the rapid increase of carbon emissions. This study aims to measure to what extent the transition of energy- related CO2 emissions from several dimensions, namely the country’s energy mix, energy self-sufficiency, energy security, sustainability, and affordability. This study contributes to the conduct of quadrant analysis of transition matrix for ASEAN plus three countries to map the dynamics of the transition in those countries. This study makes a comparison, not only in Indonesia, but also between ASEAN plus three countries (Japan, China, and South Korea). We find that economic activity has the greatest influence on the increase in CO2 emissions and that the efficiency and diversity categories may run asymmetrically. Based on the discussion with experts, Indonesia has a huge potential of renewable energy, yet the utilization is considerably low. It is also indicated that transition risks are associated with financing problems, fossil subsidies, geography, huma n capacity, excess fossil energy capacity, and financial resilience of state enterprises.

Keywords: Energy Transition; ASEAN; renewable energy; transition matrix (search for similar items in EconPapers)
JEL-codes: O1 Q2 Q4 (search for similar items in EconPapers)
Pages: 34 pages
Date: 2022
New Economics Papers: this item is included in nep-ene, nep-env and nep-sea
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Citations: View citations in EconPapers (1)

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