BOAO, Hainan, March 24 (Xinhua) -- Asia is emerging as a pivotal force in the global shift toward greener, low-carbon energy, moving from "the largest center of traditional energy consumption" to "a leader in clean energy development," according to a report released Tuesday by the Boao Forum for Asia (BFA).

Titled "Sustainable Development: Asia and the World Annual Report 2026 -- Sustainable Development in Asia amid Global Transformation," the report underscores the region's growing weight in shaping the global energy transition.

It notes that digitalization and green transitions are laying the foundation for a new "Asian Miracle."

Asia's role in the global green energy transition is critical as it is home to the world's largest population, generates about half of the global GDP and accounts for more than half of global energy consumption.

Across the region, China, India, Japan, the Republic of Korea, ASEAN and Gulf countries are developing renewable energy such as solar and wind power in light of local conditions, while also advancing technologies, including hydrogen, grid modernization, and carbon capture, utilization and storage, with the green economy showing strong growth momentum, says the report.

The numbers illustrate the shift. Asia's installed power generation capacity has surpassed 5.3 terawatts, with renewables accounting for 2.67 terawatts, or about half of the total. As a result, the region now represents 58 percent of global installed renewable energy capacity.

"Asia's green transition, particularly energy transition, is deepening and positioning the region as a spearheading global force," said Li Baosen, deputy secretary-general of the Global Energy Interconnection Development and Cooperation Organization (GEIDCO), a contributor to the report.

During the process, China stands out as a key driver, Li added. "In 2025, China's total installed clean energy capacity reached 2.4 billion kilowatts, representing roughly 45 percent of the global total."

"Notably, China's combined wind and solar capacity has, for the first time, surpassed that of thermal power, an expansion that highlights China's growing contribution to energy transformation both in Asia and the world," Li added.

Meanwhile, the region is also making rapid advances in emerging green technologies, positioning itself as a potential leader. In 2025, Asia's investments in technologies related to solar energy, wind energy, batteries and hydrogen energy accounted for 65 percent, 64 percent, 41 percent and 48 percent of global totals, respectively, playing a crucial role in accelerating the advancement of global low-carbon technologies, according to the report.

Despite significant progress, the report also points out that Asia still faces constraints, including entrenched reliance on fossil fuels, underdeveloped power grid infrastructure and gaps in green financing. These factors, the report notes, could slow the pace of transition if not addressed through coordinated policy and investment.

To navigate these obstacles, the report calls for a shift toward energy systems defined by clean-energy dominance, greater electrification, stronger interconnectivity and smarter efficiency. It urges Asian countries to adopt transition pathways suited to their national conditions while strengthening regional coordination.

Founded in 2001, the BFA is a non-governmental and non-profit international organization committed to promoting regional economic integration and bringing Asian countries closer to their development goals.

Themed "Shaping a Shared Future: New Dynamics, New Opportunities, New Cooperation," the BFA Annual Conference 2026 runs from March 24 to 27 in Boao, a coastal town in China's southernmost island province of Hainan.