RECCESSARY’s “ASEAN Weekly” highlights Southeast Asia’s new energy and carbon market updates. (Image: RECCESSARY)
This week in ASEAN, Singapore and Indonesia took another step toward deeper regional energy integration by advancing cross-border electricity trade, while Vietnam pressed ahead with power market reforms to support rooftop solar and battery storage.
On the investment front, Temasek expanded its sustainability portfolio even as its portfolio emissions remained flat, highlighting the challenge of meeting long-term climate goals. Below are ASEAN’s key energy and carbon market stories from July 6–12.
Temasek adds $2.3 billion to sustainability portfolio despite 2030 emissions goal risk
Singapore state investor Temasek Holdings is expanding its sustainability-aligned portfolio and deepening energy transition bets, even as its portfolio emissions remain flat and its 2030 emissions reduction target moves out of reach.
In its 2026 fiscal year sustainability report released on July 8, Temasek said sustainability-aligned investments rose by SGD 3 billion (USD 2.3 billion) to SGD 49 billion (USD 37 billion) in the financial year ended March 31. These investments now span energy infrastructure, grid solutions, storage, nuclear technology, AI-related efficiency and other transition-linked sectors. Read more here
Thailand’s PTTEP tests full-platform reuse as offshore decommissioning pipeline grows
PTT Exploration and Production (PTTEP) has completed what it says is Thailand’s first full reuse of a decommissioned wellhead platform, relocating and redeploying an entire offshore structure instead of dismantling it for scrap or parts.
A wellhead platform is a fixed offshore structure that supports wellhead equipment and connects oil and gas production wells with downstream processing facilities.
The company estimates that reusing one platform can cut emissions by around 3,270 tonnes of CO2 equivalent compared with building a new structure, mainly by avoiding new steel and equipment production. Read more here
PTTEP’s first full reuse of a decommissioned wellhead platform could cut around 3,270 tonnes of CO2e per platform. (Photo: PTTEP)
Power trade between Singapore and Indonesia seen accelerating ASEAN grid integration
Singapore and Indonesia signed agreements on cross-border electricity trade and carbon market cooperation during a bilateral retreat in Jakarta on Monday, as both governments move to strengthen energy security, clean power supply, and climate policy coordination.
Speaking alongside Indonesian President Prabowo Subianto, Singapore Prime Minister Lawrence Wong said energy and sustainability would remain a key area of bilateral cooperation, adding that recent developments in the Middle East have underscored the need for energy diversification. Read more here
ASEAN CORSIA credits could generate up to $8.5 billion as aviation demand grows: report
High-quality carbon credits in ASEAN could deliver economic benefits of up to USD 8.5 billion. Driven by the implementation of Article 6 under the Paris Agreement and countries’ Nationally Determined Contributions (NDCs), the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) is rapidly emerging as one of the world’s most influential compliance markets. ASEAN countries are the potential major suppliers of carbon credits. Read more here
Cambodia’s grid has reached people who can’t connect to it
Cambodia had electrified 99% of its 14,000 villages by 2024, from 24% in 2009, according to figures from the Ministry of Mines and Energy. But in rural areas, some have not experienced the benefits of this progress. Though grid infrastructure reached Tonsaong last year, many residents cannot afford to connect to it or buy electricity from it. Read more here
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