Asia Clean Energy Coalition awarded 2024 REM Asia Award
In recognition of its efforts to advance renewable energy across Asia, the Asia Clean Energy Coalition (ACEC) was awarded a 2024 Renewable Energy Markets Asia Award by the NGO Center for Resource Solutions in a ceremony at the annual REM Asia conference in Singapore. This award honors ACEC’s collaborative endeavors to enhance policy for corporate renewable energy procurement in Asia.
ACEC is a partnership co-founded by Climate Group, the Global Wind Energy Council (GWEC), and the World Resources Institute. Since its inception, ACEC has united leading renewable energy buyers, sellers, and financial institutions to form a robust collective advocating for improved renewable energy policies. Through strategic engagement with governments, ACEC has played a pivotal role in promoting the adoption and development of diverse procurement mechanisms for clean energy.
ACEC's focus on policy comes during a time when renewable energy investments in the Asia-Pacific region are expected to reach $1.3 trillion USD by 2030, doubling the investment from the previous decade, with organizations like the International Energy Agency (IEA) projecting that policy choices will have massive implications for the region’s future energy mix. ACEC's efforts are critical in transitioning the region from a heavy reliance on fossil fuels to a cleaner energy mix dominated by solar and wind power.
The coalition's strategies target priority markets including Indonesia, Japan, Singapore, South Korea, and Vietnam. Its strategies range from influencing policy for direct power purchase agreements (PPAs) in Vietnam to advocating for the enhancement of PPA mechanisms in Korea and Japan. Additionally, ACEC's work extends to regional projects like the ASEAN Power Grid and initiatives for cross-border clean energy trading, collaborating with international standards such as Carbon Disclosure Project (CDP), RE100, and the GHG Protocol to foster regulatory alignment and meet corporate reporting requirements.
“Through its collaborative, innovative approach to convening stakeholders in key markets throughout Asia, ACEC has been remarkably effective in driving transformative change throughout Asia's clean energy market,” said Jennifer Martin, Executive Director of Center for Resource Solutions, which presents the annual awards. “We are proud to present them with this award in honor of their continued efforts to increase renewable energy development by facilitating transactions and breaking down barriers to adoption.”
Reflecting on the coalition's journey and vision, Suji Kang, Program Director of ACEC, remarked: “This award is a recognition of our collective ambition and concerted efforts to foster an environment where clean and renewable energy solutions are accessible, accountable, and affordable. We are honored to be recognized and are proud to celebrate with our founding organizations Climate Group, World Resources Institute, and GWEC, as well as with our diverse membership. Looking ahead, we remain committed to overcoming the hurdles of corporate renewable electricity procurement in Asia. This award reinforces our dedication to achieving a cost-effective, efficient, and clean energy future for the region.”
