Jakarta, 6 November 2026 ( I-klik News) – Regional cooperation could help ASEAN countries reduce the cost of maintaining emergency oil reserves while supporting businesses in their transition towards cleaner and more digital production, according to research presented at the 2nd East Asia Media Caucus organised by the Economic Research Institute for ASEAN and East Asia (ERIA).
Held in Jakarta under the theme Promoting ASEAN Energy Security and Advancing Green Growth, the forum brought together researchers and journalists to discuss regional energy preparedness, sustainable economic development and the challenges facing businesses across Southeast Asia.
ERIA estimates that a cooperative approach to maintaining additional oil reserves across ASEAN would cost approximately US$2.19 billion annually, compared with US$2.80 billion under a nationally led approach. This represents an estimated cost reduction of around 22 per cent for the same volume of additional reserves.
The findings highlight the potential economic benefits of regional coordination in strengthening energy security, particularly as disruptions to global energy supplies continue to underscore the importance of emergency preparedness.
In his opening remarks, ERIA Chief Operating Officer Dr Takayuki Yamanaka said recent disruptions to global energy supplies had demonstrated the need for stronger preparedness and regional cooperation.
He also highlighted green growth and digital transformation as important drivers of ASEAN’s competitiveness and regional integration.
ERIA Senior Energy Economist Dr Han Phoumin said regional cooperation on emergency oil reserves would require more than simply securing access to fuel.
“Having the right to draw on emergency stocks is only the first step. Countries need clear release procedures, suitable fuel, and the transport capacity to get supplies where they are needed. Voluntary pilots would allow governments and operators to test those arrangements before a disruption,” he said.
Under ERIA’s proposed cooperative model, emergency oil stocks would remain owned by producers or partners, while participating countries would secure negotiated access. The research estimates exclude additional costs related to emergency delivery and replenishment.
ERIA stressed that the arrangements are research recommendations and do not represent agreed commitments among ASEAN member states.
Green transition poses challenges for ASEAN businesses
Beyond energy security, the forum examined how ASEAN businesses could remain competitive as global production increasingly shifts towards cleaner and more digital operations.
ERIA Senior Policy Fellow Dr Intan Murnira Ramli said ASEAN needed to connect green growth, digital transformation and regional integration within a coordinated economic agenda.
“Put simply: ASEAN’s next competitive advantage will come from turning green growth, digital transformation, and regional integration into one economic agenda,” she said.
However, survey findings presented at the forum highlighted gaps in corporate decarbonisation efforts, particularly among suppliers.
Among Japanese companies surveyed in ASEAN, 53.3 per cent were implementing decarbonisation measures. However, only 7.1 per cent reported switching to lower-emission suppliers or encouraging their existing suppliers to reduce emissions.
A separate survey of local ASEAN businesses found that smaller companies were less likely to implement decarbonisation measures, with limited access to financing and technical expertise identified as major obstacles.
Digital transformation also presents challenges for businesses. Among the Japanese firms surveyed, 70.8 per cent cited shortages of digital talent, while 64.7 per cent identified high implementation costs as barriers to digital adoption.
The findings point to the need for targeted investment in workforce skills, technology and improved access to financing, particularly for smaller businesses seeking to participate in greener and more digitally integrated supply chains.
Regional framework could support green economic growth
Participants also discussed how regional cooperation on standards and connectivity could help businesses overcome these barriers.
Discussions included the potential contribution of a future ASEAN Green Economy Framework Agreement (GEFA) in supporting regional coordination and facilitating investment in sustainable economic activities.
Dr Ramli emphasised that effective implementation would be critical to translating regional initiatives into tangible economic benefits, including increased investment, stronger value chains and better employment opportunities.
The forum concluded with a media exchange focusing on the importance of verifying information during energy disruptions, communicating research findings accurately and examining the domestic implications of regional policy proposals.
Journalists and editors also discussed the role of the media in monitoring policy implementation and reporting on how regional initiatives affect businesses and consumers.
The discussions underscored the importance of connecting regional policy ambitions with practical implementation, as ASEAN seeks to strengthen its energy resilience while advancing a more sustainable and competitive economy.
By: Zevonia Vieira
