The second session of the Energy Transition Working Group (ETWG) of G20 in Labuan Bajo, East Nusa Tenggara, Thursday, June 23, 2022. (ANTARA/HO-ESDM Ministry/rst)
It has been four years, and now, let us work together to realize itEnergy Transition Working Group (ETWG) Chairman Yudo Dwinanda Priaadi said the ETWG second session in Labuan Bajo, East Nusa Tenggara, will formulate drafting of the Bali Common Principles in Accelerating Clean Energy Transitions (Compact) concept.
"At the first meeting in Yogyakarta, they agreed on three things, namely energy access, technology, and financing. We would discuss these issues further, especially the Bali Compact. We would discuss several principles to have an initial agreement before the communique," Priaadi noted in a press statement received here, Thursday.
ETWG is one of the working groups in G20 that focuses on energy security, access, efficiency, and the transition to lower-carbon energy systems.
G20 is an international forum comprising 19 countries that work together to handle major issues. Indonesia is holding the presidency of the grouping this year.
Priaadi stated that all G20 members had signed an agreement to achieve carbon neutrality based on the needs of their respective countries. The ETWG in Labuan Bajo would declare their carbon neutrality plans.
"Therefore, we need principles that encourage the implementation of energy transition," he noted.
In addition to the Bali Compact, the G20 energy transition forum this time will present the progress achieved in the three main matters that were agreed upon at the ETWG Yogyakarta.
"We will carry out several updates regarding the results of stocktake developments. We also have many virtual webinars. These are milestones to reaching a consensus. We are assisted by friends from international organizations," Priaadi remarked.
He addressed that one of the advantages of the G20 forum was creating a global movement. Energy transition and carbon neutrality targets have become global issues since they were first discussed in 2018.
"It has been four years, and now, let us work together to realize it," he noted.
Assuming the G20 Presidency in 2022, Indonesia is keen to optimize opportunities for accelerating energy transition through the use of new and renewable energy. Indonesia will systematize several project initiatives compiled at the Sherpa Track while keeping in mind the interests of the G20.
One of the projects discussed at the G20 is Brazil's proposal for a biofuel platform.
"Hence, this is a collaboration in the G20 and outside the G20 to use bioenergy in the future. Everything is taken into consideration, which one can be accepted by all members," Priaadi noted.
Indonesia is proposing a carbon capture program at the Tangguh project in West Papua. The program has a considerable value of up to US$3 billion.
Priaadi emphasized that financial and technological support from developed countries was important to implement the global energy transition. This idea would continue to be encouraged at the G20 forum.
He noted that on Thursday, Germany, as the G7 President, would speak and push for the Just Energy Transitions Partnership (JETP).
The JETP cooperation model has been implemented by South Africa with the United States, France, and Germany. The partnership aims to accelerate the decarbonization of South Africa's industry, with focus on electricity systems, with an initial commitment of US$8.5 billion in the first phase.
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