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2023 Energy Transition Index: Malaysia Leads Southeast Asia

2023 Energy Transition Index: Malaysia Leads Southeast Asia

Malaysia achieved a noteworthy ranking of 35th place among 120 countries on the 2023 Energy Transition Index (ETI). The country’s score of 61.7 has proven the Malaysian government’s strong focus on the country’s energy transition.

Malaysia has set out to stand at the forefront of the region, as the government has published its strategic plans to achieve net zero greenhouse gas emissions by 2050. These plans include the National Energy Transition Roadmap and The Hydrogen Economy and Technology Roadmap.

Also read: Biggest in the region: Indonesia introduces $20 billion plan for renewable energy investments

Through these roadmaps, the government has taken a strategic decision to significantly increase the country’s installed renewable energy capacity. Their audacious goal is to reach 70% by 2050, a substantial rise from the current target of 40% in 2035. This bold objective distinguishes them as being one of the most ambitious in Southeast Asia.

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The World Economic Forum publishes the ETI to assess and comprehend countries’ energy transition progress through two pillars, encompassing system performance and transition readiness towards secure, sustainable, and equitable future energy.

The Scandinavian countries, including Sweden, Denmark, Norway, and Finland, were consistently maintaining their leading positions globally through 2023. Meanwhile, Malaysia was the only country from Southeast Asia to reach the global top 35. Viet Nam followed closely at 43rd rank with a 58.9 index score.

Thailand and Indonesia took their positions sequentially on the 54th and 55th world podiums, respectively. Both countries indicated a slight disparity in their respective scores of 55.9 and 55.8. As Indonesia possesses a high future energy demand, the country has been recognized of its significant improvements in the energy transition, along with the other largest emerging economies, China, India, and Brazil.

Despite Singapore occupying the 70th rank due to its score index of 53.7, it is noteworthy that Singapore is one of only two countries to show advanced progress across all indicators that fall under the system performance pillar, along with India.

Laos and Cambodia ranked next to each other in the 83rd and 84th spots, respectively, and achieved an identical score of 52.1. The Philippines appeared among the 30 lowest scores, or precisely at the 94th rank, with a score of 50.2. Brunei Darussalam derived an index score of 47.3, placing it in the 105th spot.

Despite its lowest rank in the region, Brunei Darussalam has shed light as one of three countries worldwide to reveal a strong and consistent momentum for advancing the diversification of its energy sources, along with Ghana and Albania. No data is available for Myanmar and Timor-Leste.

Source: World Economic Forum and various reliable sources.

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