The green transition—even as it gets downplayed in some advanced economies like the U.S.—is still underway in the rest of the world, as nations build out their renewable energy infrastructure and try to develop a low-carbon economy.

But there remains a huge funding gap, particularly among emerging markets with less ability to tap global capital.

Southeast Asia needs about $200 billion a year to fund its green transition, Mian Ying Chen, the head of industrials at UOB’s sector solutions group, estimated at the Fortune Innovation Forum in Kuala Lumpur on Nov. 17. Yet just $50 to $60 billion in investments are currently being made each year.

Chen added that green investments can’t exclusively focus on the largest companies. “It’s very important for us to pay attention to the small- and med

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