High Level-CEO Dialogue on Financing Energy Transition and The Role of Private Sector

Date : 24 August 2023

Location : Nusa Dua Hall 5
High Level-CEO Dialogue on Financing Energy Transition and The Role of Private Sector

The Southeast Asia region is expected to see rapid economic growth over the next few decades. Driven by this, as well as population growth, energy demand in the region will grow rapidly too. Today’s energy supply, meanwhile, is dominated by fossil fuels, which make up over 85% of primary energy. Southeast Asia therefore stands at a crossroads. As countries in the region follow global commitments for ever more ambitious climate targets, including net- zero commitments, planning must begin now in earnest. While the ASEAN has ambitious renewable energy goals in the near-term, the region needs to think and plan for the long-term. It has a unique opportunity to develop a sustainable energy system based on renewable energy resources that can support socioeconomic recovery and development while addressing climate change mitigation and adaptation strategies, and accomplishing energy security, universalization, and affordability goals. The International Renewable Energy Agency (IRENA)’s “2nd Renewables Outlook for ASEAN” outlines how renewables, efficiency and related energy transition technologies can significantly reduce emissions, increase indigenous energy use, and improve health and climate outcomes, while stimulating investment in local supply chains and creating domestic value as well as the wider socio-economic footprint of the energy transition and offers key policy considerations.

Meeting the region’s development needs and the net-zero commitments that many countries in the region are now considering will require significant action and enhanced ambitions. Indonesia as the biggest economy in the region play significant role in the region’s effort in reaching net zero by mid-century. The country is committed to mitigating climate change, actively promoting energy transition mechanisms. The Deutsche Gesellschaft Zusammenarbeit (GIZ) supports the Indonesian Government in achieving its targets for a sustainable energy transition, including the 23% target for renewable energy by 2025 and the Net Zero Emissions targets by 2060. As a fossil fuel-reliant emerging economy, the challenges in transitioning to sustainable energy are immense, extending beyond environmental factors to economic and social dimensions. This transition promises new avenues for job creation and economic stimulation, particularly in emerging sectors like renewable energy technologies and energy efficiency services. Therefore, private sector's involvement is vital to this transition, calling for substantial investment and innovation. Identifying effective financial tools, given the context, is crucial and requires understanding key investment barriers, potentially related to regulation, technology, and infrastructure. The private sector's role in Indonesia's energy transition is pivotal and can inform strategies for engagement. Such a successful transition in Indonesia could serve as a scalable model for ASEAN, driving regional sustainability and economic growth.

Time

Agenda

09.30 – 09.50

Welcome and Keynote Remarks
Speakers:

  • Yudo Dwinanda Priaadi, Director General of New Renewable Energy and Energy Conservation, Ministry of Energy and Mineral Resources Indonesia*
  • Ervan Maksum, ST, M.Sc, Deputy for Infrastructure, Bappenas*
  • Francesco La Camera Director General, IRENA

10.00 – 10.45

Scene Setting Presentation
IRENA & GIZ

09.50 – 10.00

High Level Panel Discussion:
Accelerating Energy Transition Investments and Finance in Southeast Asia
Speakers:

  • H.E Erick Tohir, Minister of State Owned Entreprises, Indonesia*
  • Senator the Hon Jenny McAllister, Assistant Minister for Climate Change and Energy of Australia*
  • Mr. David M. Turk, Deputy Secretary, US Department of Energy
  • Mr. Burkhard Hinz, Indonesia Country Director, KfW Development Bank*
  • Mr. Keiju Mitsuhashi, Regional Energy Director, ADB
  • Ms. Manuela V. Ferro, Vice President, East Asia and Pacific, World Bank*
Moderator:
  • IRENA

10.45 – 11.30

CEO Dialogue::
Mobilising Private Sector Engagement for Stronger Energy Transition Action
Speakers:

  • Ms. Nicke Widyawati, CEO PT Pertamina
  • Mr. Antony Harsono, Director Samator Group
  • Mr. Farid Belbouab, CEO Meratus Line
  • Mr. Adrianto Djokosoetono, CEO Blue Bird Tbk. (BIRD)*
  • Mr. James Ung, COO, Sarawak Energy
Moderator:
  • Lishia Erza
  • CEO CNY/Sustainable Finance Director Agrindo Group