Summary The ASEAN Member States (AMS) recorded economic growth rates of 3% to 8% in 2024, higher than the global average of 3.2%, according to the latest World Economic data. The rapid economic growth in the region is accompanied by rising energy consumption, with the baseline scenario projecting a 2.6 times increase of energy demand by 2050, from the 2022 level. To ensure energy security while achieving carbon neutrality commitments, ASEAN will require around USD 3.7 trillion to USD 6.7 trillion to finance energy transition efforts by 2050. Therefore, scaling up energy investment, particularly for low-carbon energy, is crucial for ASEAN. This report is a follow-up to the first ASEAN Capacity Building Roadmap on Energy Investment published in 2023. It emphasises the importance of tracking and monitoring the progress of the AMS based on the indicators proposed in the previous report. There are three primary objectives for this year’s report. The first objective is to update or evaluate the energy development of each of the AMS based on selected indicators (Chapter 2). The main indicators assessed are the electrification rate, the share of renewable energy in power generation, and energy investment.
