Until January 2019 the ASEAN Low Carbon Energy Programme was called the South East (SE) Asia Low Carbon Energy Programme.
The programme will deliver a £15 million, 4-year programme of policy support, capacity building and technical assistance. This aims to facilitate green finance flows and improve the regulatory, policy and practical conditions for energy efficiency measures. It aims for 5 specific outcomes:
- strengthened policy and regulatory framework for green finance and energy efficiency
- greater investment in low carbon technologies
- energy efficiency savings
- improved ease of doing business
- innovation and knowledge transfer of low carbon economies
South east Asia has a population of more than 600 million people – and has a combined GDP equivalent to the world’s 7th largest economy. It is the 4th largest exporting region in the world, a major manufacturing hub and is important to global trade flows. While still comparatively strong, economic growth in the region has moderated in recent years and economic inequality is growing, with 87 million people still below national poverty lines. The region’s continued economic growth will partly depend on whether it can meet its growing energy demand and the huge energy challenges it faces.
The Prosperity Fund ASEAN Low Carbon and Energy programme has been designed to address these issues, in compliance with the International Development (Gender Equality) Act, where the UK can add the most value.
This programme will operate in the 6 largest south east Asian countries: Indonesia, Malaysia, Myanmar (Burma), the Philippines, Thailand and Vietnam). It will cover 95% of south east Asia’s total population, 95% of those in poverty and 86% of its GDP.