The Pakistan-China Institute (PCI) convened a forum, "Green Energy Transition in Asia: Aligning Finance, Policy & Equity,” at the University of London, assembling policymakers and specialists to examine Asia’s critical position in addressing climate change. Given that Asia contributes over half of global greenhouse gas emissions, the region’s shift to sustainable energy is fundamental to meeting international climate objectives. Nevertheless, advancement remains inconsistent across nations due to diverse economic conditions, financing deficits, and political hurdles.
Speakers emphasized that Asia possesses the potential to spearhead the worldwide transition to clean energy, contingent upon amplified green finance, enhanced regulatory frameworks, and fortified regional collaboration. Pakistan’s Minister of State for Climate Change, Dr. Shezra Mansab Kharal, detailed national initiatives to expedite its energy transition, including a target for 50% of electricity generation from clean sources by 2030. She noted a prohibition on new imported coal plants and a current upsurge in rooftop solar installations. Dr. Kharal urged multilateral support mechanisms that circumvent additional debt burdens and stressed the necessity for increased investment in local expertise and capacity building. “We are at a climate crossroads,” Dr. Kharal stated. “Pakistan needs global solidarity to ensure a transition that protects vulnerable communities, fosters innovation, and builds long-term resilience.”
Suba Sivakumaran of UNESCAP cautioned that despite escalating clean energy investments, coal still constitutes 40–45% of electricity generation in the Asia-Pacific region. Sivakumaran advocated for China-modeled coordination between energy and finance sectors, the elimination of fossil fuel subsidies, and enhanced policy clarity to improve investor confidence. Dr. Ma Jun, Chair of the China Green Finance Committee, illustrated the outcomes of China’s coordinated green finance strategy, highlighting that electric vehicles now represent 50% of new car sales in China alongside record-setting renewable energy deployment. Regarding nations like Pakistan, Dr. Ma observed that transitioning from coal presents greater complexity due to approximately 5% annual power demand growth and long-term debt encumbering existing coal plants. He recommended a measured approach: retiring debt-free coal units initially, investing in energy storage to stabilize renewable sources, and guaranteeing the financial viability of renewable projects to avert power shortages and loan defaults.
Professor Uli Volz of SOAS and Professor Christoph Nedopil of Griffith University underscored the imperative to embed climate risk within financial systems, reinforce grid infrastructure, and advance battery storage technology. They also emphasized the crucial role of standardized green taxonomies in mobilizing domestic capital. The forum resounded with a unified conclusion: Asia’s energy transition is central to the global climate effort, yet it demands localization. Aligning finance, policy, and equity transcends technical requirement; it constitutes a moral imperative for a just and sustainable future.
