The Energy Transition Mechanism (ETM) Southeast Asia Partnership, which aims to accelerate the retirement of existing coal-fired power, is the first of its kind in Asia Pacific and aims to help fast-forward Southeast Asia’s clean energy transition.
Proposed new regulations signal that the Indonesian government appears to have recognised the importance of supporting carbon capture and storage (CCS) schemes. Such regulations will be crucial to encourage major companies, such as BP and Repsol, to invest in significant new upstream production in Indonesia.
The Asian Development Bank (ADB) will no longer finance new coal-fired power capacity, as well as oil and gas exploration and production, it announced in a draft policy statement on Friday.
