The Trumpian approach to critical minerals – evident from the United States' interactions with Ukraine – may force Southeast Asia to choose sides. The region needs to look at diversifying its technical partners in the energy sector.
After spinning off its thermal coal assets, Adaro Energy Group, the world’s sixth-largest coal mining company, will have access to financing from two banks that previously withdrew funding for its aluminum smelter project in February 2023.
The financing gap is huge, but time is short. Given the inadequacy of a promised new climate finance goal, Southeast Asia should look beyond UN-led conferences to crowd in other sources of capital to tackle the climate crisis.
The US federal policy pendulum is swinging away from facts, reason and basic human decency with Trump re-entering the White House. But it will swing back if city mayors and local leaders insist on effective climate governance.