Speaking at the launch of the Energy Asia 2025 conference today, Anwar said that equity must be at the heart of the energy transition, particularly in addressing the needs of poorer and vulnerable communities.

“Decarbonisation efforts that ignore the needs of the poor and vulnerable risk worsening inequality,” he said, adding that expanding access to affordable and reliable energy was essential for a just transition.

Anwar also called it “ridiculous” to expect nations to immediately abandon traditional energy sources while still working to meet growing energy demands.

He said Asia must invest in improving efficiency and reducing emissions in its current energy systems, a formidable task given that fossil fuels still account for nearly 80% of global supply.

Anwar also called for a clear and coherent financial framework to support Asia’s transition to clean energy – one that builds investor confidence and attracts capital to renewable projects.

He said Southeast Asia received just 2% of global clean energy investment in 2023, calling this a “major gap” for a region with huge renewable potential.

On Malaysia’s energy transition efforts, Anwar highlighted initiatives like the Corporate Renewable Energy Supply Scheme which enables companies to source clean energy through the national grid using a third-party access model.

He also pointed to green financing mechanisms such as the Green Technology Financing Scheme, designed to drive sustainable investment.

Malaysia plans to phase out fossil fuels to raise the proportion of renewable energy to 70% by 2050.

As of 2023, renewable energy made up 23% of the country’s total power generation mix.