Socio-economic footprint of the energy transition: Southeast Asia
This report explores the potential socio-economic impacts of the energy transition in Southeast Asia. It shows that an ambitious energy transition will deliver a broad range of beneficial socio-economic outcomes for the region. Southeast Asia has witnessed impressive economic growth in the past three decades. Its gross domestic product (GDP), expressed in terms of purchasing power parity (PPP), has expanded at a compound annual growth rate (CAGR) of 4.7%. Southeast Asia has also made significant progress in social development and in raising the standard of living for its citizens. However, growth and development have also placed considerable strain on the existing development model that must be addressed to safeguard future development and living standards. This necessitates a new model for the sustainable utilisation of the region’s natural resources – to which the region’s socio-economic development is tied. While the past few years have stretched resources and forced a focus on near-term priorities – especially during the COVID-19 pandemic – the region’s socio-economic outlook depends on its ability to reshape its own development narrative.