January-February , 2022 | @ green
Singapore takes lead
Singapore Energy Summit brings like-minded players to discuss the advancement in the energy transition
SINGAPORE International Energy Week ( SIEW ) is an annual event organised by the Singapore Energy Market Authority ( EMA ), a statutory board under the Ministry of Trade and Industry . It serves as a platform to gather energy professionals , policymakers and commentators to share best practices and solutions within the global energy space . One of the event ’ s highlights is the Singapore Energy Summit ( SES ).
Session 2 of the Singapore Energy Summit , titled ‘ Restructure : Pursuing Green Growth ’, featured industry experts and government leaders ’ discussion regarding how Asian economies can be restructured to accelerate green growth and job creation .
Energy Minister of Brunei Darussalam Dato Seri Setia Dr Awang Mat Suny began the session by urging Asian countries to take any opportunity to drive the region towards a more sustainable energy future .
According to Awang , technological advancement and private sector investments alone were insufficient in moving the green economy forward . The government ’ s support and enabling policies were essential to shape consumer behaviour and further improve the collaboration between the public and private sectors .
He shared that Brunei had taken several key initiatives in 2021 by establishing energy efficiency standards , adopting Zero Routine Flaring ( ZRF ) to promote sustainable production , and ‘ As Low As Reasonably Possible ’ ( ALARP ) policies to reduce industrial emissions by 2035 .
During the event , Alfonso G . Cusi , Secretary of Energy , represented the Republic of the Philippines . In his keynote address , Cusi shared about 3Gs - gauge , growth and gather - which he believed works as a guide in the energy transition .
The explanation on the 3Gs was as follows : 1 . Gauge – To consistently assess and adapt to ensure that policies in place are effective in driving green growth 2 . Growth – To ramp up capacity to meet increasing energy demand
3 . Gather – To develop and strategise efforts through bilateral and multilateral collaboration Manuela V . Ferro , the Regional Vice President , East Asia and Pacific ( EAP ) of The World Bank Group , East Asia and Pacific , shared that coal still accounted
country . He said low-income nations , specifically those at war , emit the least GHG compared to middle-income countries .
He noted that rich nations ( not limited to the G20 members ) such as Qatar , UAE , Arab Saudi , and Kuwait had the highest GHG emissions . He , however , pointed out the exception for some high-income countries such as Sweden , Denmark , Norway and Switzerland that were being proactive in pursuing green growth .
“ Malaysia and China are considered upper-middle-income countries ,” said Zaini . — @ Green
Dato SS Dr Awang
Armida Salsiah Alisjahbana
Dr Sinava Souphanouvong
for 40 per cent of global power generation . To support industrial activities and households , she emphasised the need for massive investments in clean energy and grid infrastructure .
“ We estimate that meeting the NDC targets of China , Indonesia , Philippines , and Vietnam will require investments of US $ 8 trillion for the power sector alone between 2020 and 2040 . A more aggressive scenario aligned with the Paris agreement could increase the required investments to US $ 10 trillion ,” said Ferro .
The session also featured a special interview with Francesco La Camera , Director-General , International Renewable Energy Agency ( IRENA ), who stated that cost reduction for renewables was essential to accelerating the energy transition in Southeast Asia . Other factors that would support the effort included mobilising investments in clean energy projects and carbon pricing .
Enabling policies and green financing
Participants were then engaged with a discussion moderated by Gauri Singh , IRENA Deputy-General , which highlighted the potential of green development through policies and financing . The forum featured speakers Thomas Baudlot , Prof Kang Seung-Jin , Kazuhisa Yano , Audra Low , and Eric Pang .
“ The public sector plays a key role in catalysing and managing the energy transition ,” commented Gauri .
Baudlot , CEO Energy Solutions APAC and Country Head South East Asia , ENGIE South East Asia , then emphasised the importance of suitable business models and partnerships in green projects . In addition , Kang , the Chairman of the Electricity Regulatory Commission ( KOREC ), named four integral approaches towards energy transition : job creation , renewable targets , innovation , and green industries .
According to Yano , Executive Chairman and Chief Asia Representative of Osaka Gas , the government can assist in financing and establishing the right policies to reduce carbon emission . As for the financial sector , Low , Chief Executive Officer of Clifford Capital , said an appropriate financing structure would be crucial to influence market behaviour and bring in more investments for green projects . For example , the international banks ’ decision to exclude the financing schemes for coalfired power plants .
Pang , Director , Electrical and Mechanical Services Department of Hong Kong SAR , China , believed that public education is required to create awareness and seek public buy-in to shape energy consumption patterns . He highlighted the importance of energy efficiency measures such as raising the minimum energy requirements to promote innovation and new technologies and strengthening collaboration between energy stakeholders . — @ Green
Building regional interconnectivity
SINGAPORE Energy Summit also featured a Special Session that discussed the regional grid interconnectivity and related developments . The session aimed to explore solutions to enhance the energy transition by increasing cross-border power trade via the regional power grids .
During the special session , Dr Sinava Souphanouvong , Deputy Minister for Energy and Mines , Laos People ’ s Democratic Republic , touched on the potential of cross-border power trades . According to him , there was a growing need for international collaboration .
Armida Salsiah Alisjahbana , Undersecretary-General , United Nations Economic and Social Commission for Asia and the Pacific ( UNESCAP ), mentioned the Lao PDR-Thailand- Malaysia-Singapore Power Integration Project ( LTMS-PIP ). She believed the project was a positive step towards multilateral power trading .
Mary Burce Warlick , Deputy Executive Director , International Energy Agency ( IEA ), opined that a strong working relationship between governments and industry stakeholders is crucial to building interconnected functional systems . She added that potential physical disruption and cybersecurity attacks must be properly addressed before realising regional interconnectivity .
PT Pertamina Power Indonesia ( PPI ) Chief Executive Officer Dannif Danusaputro then stated that Indonesia would look into technology solutions to enable renewable energy export and boost clean energy accessibility to renewabledisadvantaged countries .
Cindy Lim , Chief Executive Officer of Keppel Infrastructure , shared that energy consumption trends have changed due to digitalisation and urbanisation . The energy shift would necessitate demand management and a more responsive and robust grid to accommodate further renewables integration .
Jimmy Khoo , Chief Executive Officer of SP PowerGrid , concluded the session by emphasising the importance of coordinated efforts among all stakeholders , particularly between countries , in managing and tackling climate change and facilitating the energy transition .