Dr. Agus Harimurti Yudhoyono, Coordinating Minister for Infrastructure and Regional Development of the Republic of Indonesia, a very warm welcome to you.

Your Excellencies,

Distinguished guests,

Ladies and Gentlemen,

Powered by Innovation, Driven with Intent

A very good morning to all of you.

We gather at Ecosperity Week this year at a moment of profound global uncertainty – not just economic, but systemic.

Across the world, the foundations of the global order are being tested.

The consensus that supported decades of stability, trade, and growth is under stress, and we now face the uncertainty of tariffs, trade wars and other geopolitical conflicts.

The effects of the ongoing conflicts are felt all around the world.

The war in the Gulf shows how quickly regional tensions can escalate into global shocks – disrupting energy systems, trade flows, and financial markets, affecting the lives and livelihoods of ordinary people.

Disruptions in the Strait of Hormuz have contributed to what the International Energy Agency has described as “the largest supply disruption in the history of the global oil market.”

These have added to the yet unresolved and continuing war in Ukraine; the continuing conflict in Israel and the Palestinian territories, and escalation in Lebanon.

We are seeing how deeply interconnected – and vulnerable – our world has become.

And all of us are feeling the effects every day.

Geopolitics is no longer the backdrop.

It is an active force impacting markets, supply chains, and strategic choices – as countries place greater emphasis on security, resilience, and self-sufficiency.

So now, long-held assumptions about global cooperation are being fundamentally torn down.

Why Climate Action Matters Even More Now

Yet one reality remains unchanged.

Even as geopolitical tensions rise, the world has just recorded its hottest years, with global emissions continuing to rise and reach new heights.

Climate change does not recognise borders.

Nor does it pause for conflict.

If anything, conflicts make the transition harder, which is why cooperation matters even more. Only cooperation can help solve the problem.

At the same time, the global economy is undergoing a profound transformation – driven by developments in artificial intelligence, electrification and digital infrastructure.

These shifts will shape the economics and trajectory of the climate transition.  

The state of the transition will not be defined just by individual technologies, but by how effectively these systems are integrated.

To do so, we need to focus on the pressure points where these systems come together and interact.

This is why the theme for Ecosperity Week 2026 is “Powered by Innovation, Driven with Intent.”

Innovation expands what is possible – emerging technologies, new financing models and new forms of partnerships.

Intent ensures these solutions are deployed responsibly, scaled effectively, and trusted by society.

Three Focus Areas Central to Sustainable Transformation

This brings me to three focus areas where innovation and intent must come together.

First, electrification.

This is essential to decarbonisation – across transport, industry, and power systems.

But it also deepens reliance on grids, supply chains and critical minerals.

Second, sustainable digital infrastructure, especially as data centres and the exponential demand driven by AI are raising important questions about energy and water use, and system efficiency.

When deployed responsibly, AI has the potential, and can unlock significant gains in energy efficiency, industrial productivity, and resilience.

So we must also not forget the human dimension when we talk about AI and digitisation.

Workforce readiness is central – not peripheral – to this transition, as it will determine whether society accepts these transitions smoothly and benefits from it, or is disrupted by it and such.

Third, climate adaptation.

This is now a core priority alongside climate mitigation. Adaptation will help protect  communities, infrastructure, and supply chains from growing climate risks, and will be critical to bring long-term economic stability and continuity. We have to assume that at the present rate which we are dealing with mitigation, it will not be enough and adaptation will have to be a very strong theme for us in the coming years.

Asia at the Centre of the Transition

Nowhere will this interplay be more decisive than in Asia.

The Asia-Pacific region is home to some 60% of the world’s population, and accounts for roughly half of global emissions.

It is also where much of the world’s future demand, industrial expansion, and infrastructure growth will take place.

How Asia navigates this transition will shape global outcomes.

In a more contested and uncertain world, Asia must define its own path – by strengthening resilience, deepening self-reliance, and advancing sustainability.

This is not about turning inwards or looking only at narrow self-interest.

It is about building the capabilities and systems needed to operate with confidence in a more complex environment, in a collaborative way, based on a broader and enlightened self-interest.

More importantly, Asia does not start from scratch.

Its inherent diversity – often seen as a challenge – can be a source of strength.

We all recognise that the region’s transition will not be uniform.

Countries differ in starting points, resources, and priorities.

Yet across the region, an interconnected ecosystem is already taking shape.

China drives electrification at scale, producing over half of the world’s solar PVs¹ and EV batteries².

India is rapidly expanding renewable energy capacity.

South Korea and Japan supply key battery components like cathodes and manufacturing equipment, which supports global EV supply chains³, and Indonesia anchors critical mineral supplies.

Closer to home, Southeast Asia is experiencing strong growth in energy demand, fueled by industrialisation, electrification, and the digital economy, and is looking for sustainable solutions.

Together, these elements require a system that links resources, technology, manufacturing, and markets.

If brought together effectively, this system can strengthen resilience, reduce vulnerabilities, and accelerate sustainable growth.

The opportunity is not just to participate in global value chains, but to shape integrated systems suited to Asia’s context.

Strengthening the Case for Renewables

The transition ahead will not be smooth.

In the near term, energy security will keep countries reliant on a broad mix of energy sources, including fossil fuels.

In some cases, coal has returned to help ensure stable baseload supply.

But underneath this near-term volatility, a structural shift is underway.

Last year, renewables overtook coal’s share in the global electricity mix for the first time.⁴

Renewables are increasingly cost-competitive, benefitting from economies of scale in production and deployment, and continuing technical innovation.

Renewable energy accounted for over 85% of global capacity expansion for electricity generation.⁵

Even in the United States, 88% of new power capacity came from renewables and storage, compared to just 10% from natural gas.⁶

This is not limited only to developed countries.

Emerging markets are also seeing the economic benefits of leapfrogging traditional energy pathways.

Countries like Pakistan are rapidly scaling solar, while Nepal is expanding hydropower and electric mobility – driven not just by climate goals, but by energy affordability, resilience, and reduced reliance on imports.

So these have a logic on their own, apart from climate change considerations.

And the recent disruptions to global energy supply have reinforced this direction.

Fossil fuel systems remain exposed to concentrated supply routes and geopolitical shocks.

But by contrast, renewable energy is more distributed, more local, and less dependent on vulnerable supply lines that must remain continuously open for replenishment.

This strengthens the case for non-fossil alternatives – not only for sustainability, but for energy security.

At the same time, countries investing in the future are moving beyond energy transition alone.

They are pursuing broader green industrial strategies including advanced manufacturing, supply chain resilience, and the integration of emerging technologies.

And if we look around and visit cities around the world, cities everywhere are seeing the adoption of cleaner forms of cooking, heating and especially mobility. This is improving daily lives – with cleaner air, quieter streets, and healthier communities.

This a great boon for humanity, as billions of city dwellers and many more will benefit from these innovations as urbanization continues.

Strategic Imperatives: Speed, Scale and Collaboration

These priorities are, of course, deeply interconnected.

Progress in one depends on progress in others, underscoring the need for a systems approach.

But integration and collaboration at the necessary speed and scale will require trust – especially as concerns around national security, supply chain vulnerabilities and strategic dependence grow.

Addressing these considerations constructively and transparently will be key to building the trust required to enable deeper regional cooperation.

After all, the defining challenge of our time is not competition between countries.

The real race is against time, and not against each other.

Nature sets the timetable, but we can shape the trajectory of our response.

Meeting this challenge requires an enlightened look at self-interest, pragmatism, partnership, and a shared sense of purpose.

The transition will not be linear.

But the direction is clear.

By leveraging Asia’s diversity, across resources, technology and markets, and aligning innovation and intent – we can create solutions that are not only scalable, but also resilient and inclusive.

Closing: Sustainability as the Core for Resilience and Growth

Since its launch in 2014, Ecosperity has grown from a small convening into a leading platform shaping Asia’s sustainability agenda.

More importantly, it translates dialogue into partnerships, mobilises capital, and drives real-world action across Asia.

For Temasek, sustainability has always been core to how we create long‑term value – for our portfolio, and for the broader ecosystems and communities we operate in.

In a more uncertain world, sustainability is not just a responsibility.

It serves as a foundation for resilience, opportunity and growth.

It is my hope that this forum will catalyse new and bold ideas, strengthen partnerships, and accelerate growth.

So let us take the discussion we have here forward to COP31 – where regional discourse and action through this week’s Ecosperity can serve as a springboard to accelerate global ambition, finance, and collaboration.

By acting with purpose, innovating with intent, and working together, we can shape a more sustainable and resilient world – for today and generations to come.

Thank you for your presence. I wish you all a productive Ecosperity Week ahead.

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¹International Energy Agency (IEA), China’s share in global PV manufacturing capacity, 2024 and 2030, 2025

²SNE Research, Global EV Battery Market Share Report, 2026

³International Energy Agency, Global EV Outlook, 2025

⁴Ember Global Electricity Review, 2026

⁵International Renewable Energy Agency (IRENA), Near-700 GW Surge in 2025 Proves Renewable Energy Resilience, 2026.

⁶Electrek, FERC: Renewables made up 88% of new US power generating capacity in 2025, 2026.