EY with the Foreign, Commonwealth and Development Office

EY with the Foreign, Commonwealth and Development Office.png


MCA Awards Finalist 2024

The Association of Southeast Asian Nations (ASEAN) Low Carbon Energy Programme (ASEAN LCEP) was a £15 million development initiative launched by the UK Foreign, Commonwealth & Development Office (FCDO). The programme’s purpose was to promote inclusive economic growth in Southeast Asia, by helping selected government ministries and agencies in the areas of Green Finance and Energy Efficiency. Working in close collaboration with both the public and private sectors, the programme supported the reduction of greenhouse gas emissions by supporting the deployment of low carbon energy and improving energy efficiency in the ASEAN region.

EY was the lead delivery partner responsible for the Green Finance workstream and overall programme management. By facilitating networks and connections to build sustainable Green Finance infrastructure, the EY team helped to deliver positive outcomes that will benefit Southeast Asia.

The ASEAN LCEP was delivered by a 60-strong team across EY and through sub-contracting work to over 40 other organisations and individuals in the region. The experienced regional EY team not only understood the local context and the political economy but were recognised as experts in the climate and sustainability space. The team leveraged its network of technical delivery capability and experts – both in-house as well as from a variety of international, regional and local technical partners – to design, develop and deliver impactful, socially-conscious activities.

The team took a proactive approach through continuous learning and improvement. This included ensuring that the programme remained relevant and adaptable to the ever-changing sustainable finance landscape and addressing the dynamic and changing needs of the various national governments. The EY team was able to respond quickly to changes and provide the relevant support to beneficiaries, through consistent engagements with relevant stakeholders.

The EY team needed to be agile when responding to various challenges, such as those which emerged from the COVID-19 pandemic and general elections in partner countries. The team accelerated progress and helped to co-create solutions to benefit the region and society at large, by getting active involvement from international organisations (including those from the UK) in delivering the work programme and facilitating connections and knowledge sharing.

Noteworthy outcomes of the ASEAN LCEP included upskilling, developing capacity and reinforcing skills – training more than 14,000 participants from the public and private sectors. The EY team also made policy and regulation recommendations and provided market development and technical assistance, directly supporting the issuance of £199.5 million of green or sustainable bonds. The ASEAN LCEP took strategic steps to place the intersection of climate and gender at the core of our work in order to drive not just enhanced climate impacts, but also social/gender equality related impacts that are necessary for a Just Transition.

The EY team ensured the legacy of its work beyond the life of the programme and the region. For example, the roadmaps and guiding principles produced were discussed at the World Investment Forum 2023, almost a year after the ASEAN LCEP’s final month of implementation. Along with the positive stakeholder testimonials that evidence the team’s collaborative, quality and valuable support and delivery, this demonstrates the significant value and impact that the EY team delivered.

View the EY profile in the MCA Members Directory.