BII pledges US$1.6 billion for Southeast Asia’s renewable energy shift
British Climate Partners will channel about half of the investment, while private investors are expected to contribute a similar amount.
A US$1.6 billion climate finance commitment announced by British International Investment (BII) on October 12, 2026 will support Southeast Asian economies, including the Philippines, as they move towards renewable energy. The UK development finance institution said the commitment covers a five-year period.
British Climate Partners, an initiative BII introduced in 2026, will account for about half of the investment. BII said it expected to mobilise a similar amount from private investors. It named Vietnam, Indonesia, the Philippines, Malaysia and Thailand as beneficiaries, describing them as economies dependent on fossil fuel generation with high emissions.
BII’s regional climate financing commitments reached nearly US$400 million during 2023–2025. Among the recipients was renewable energy firm ib vogt in the Philippines, which is expected to deliver clean electricity totalling 400 gigawatt-hours annually.
Leslie Maasdorp, BII’s chief executive officer, said climate project financing was the institution’s sole focus in Southeast Asia. In March, managing director and Asia head Srini Nagarajan described the Philippines as an important market and indicated a strong intention to invest in the country.
Foreign investors were allowed to participate in Philippine renewable energy following a November 2022 amendment by the Department of Energy to the implementing regulations under the Renewable Energy Act of 2008.
