Global investment in the renewable energy sector reached a record USD 624 billion in 2024, marking a 7% increase from the previous year, according to the International Renewable Energy Agency (IRENA). Director-General Francesco La Camera stated that while the upward trend is encouraging, current funding levels remain insufficient to meet global climate and energy targets. He stressed that the world needs more than double the annual investment between 2025 and 2030 to keep the energy transition on track, calling for a new global financial architecture that integrates energy transition priorities into the international financial system, enhances donor coordination, and fosters public-private partnerships to reduce investment risks.
La Camera emphasized that financial system reform is essential to ensure developing countries have equitable access to clean energy funding and technology. As part of its efforts, IRENA launched the Accelerated Partnership for Renewable Energy in Southeast Asia (APRESA), aligned with the ASEAN Plan of Action on Energy Cooperation (APAEC) 2026–2030, to accelerate clean energy transition across the region. Indonesia, with its significant energy mix in ASEAN, plays a strategic role in this initiative through cross-border electricity interconnection projects and green hydrogen exploration in Kalimantan and Sulawesi, both key to achieving its Net Zero Emission (NZE) 2060 target. The collaboration also reinforces Indonesia’s commitment as host of the ASEAN Energy Business Forum (AEBF) 2026, a platform to advance regional energy transition through green investment and collaborative action.
