Best practices for scaling energy efficiency with energy service companies: Opportunities for ASEAN
The Association of Southeast Asian Nations (ASEAN) is one of the most important participants in the global economy and energy portfolio and is home to 10 percent of the world population. Before the ongoing pandemic, ASEAN was the fifth-largest economy in the world with a gross domestic product (GDP) of around USD 3 trillion in 2018.
The ASEAN member states have undertaken policies, regulations, and market mechanisms to promote energy efficiency in industries, building and end-user appliances to varying effects. These efforts have supported the achievement of the ASEAN Plan of Action for Energy Cooperation (APAEC) phase-1 target of 20 percent energy intensity reduction by 2020. However, the latest regional energy efficiency targets and recovering better goals would require scaling of energy efficiency implementation at a significantly higher rate to achieve the SDG 7.3 target of an annual average of 3 percent energy efficiency improvement by 2030. For this, there is a need to promote and scale the Energy Service Companies (ESCO) model in the region to mobilize financing and investment for energy efficiency.
Recognizing the important role that ESCOs have in the energy efficiency story for ASEAN, SEforALL and ASEAN Center of Energy (ACE) are hosted a webinar to bring the latest knowledge and practices on ESCO market development globally to policymakers and stakeholders in ASEAN. The webinar identifies the trends, challenges and some of the models that have been successful in developed and developing countries, which can inspire AMS to promote and deploy ESCOs in their countries.
The target audience of this webinar is the Energy Efficiency and Conservation (EE&C) Working Group of ACE, other interested and relevant stakeholders from the region and the world are encouraged to watch.