Heaptalk, Jakarta — Task Force Energy, Sustainability, and Climate Business 20 (TF ESC-B20) at the B20 conference, was successfully organized in Bali on November 13th – 14th, 2022. With the focus on sustainable energy transition worldwide, this forum has produced a potential project value of up to USD11.5 billion.
As delivered by the Chairman of TF ESC-B20, Nicke Widyawati, “The discussion between the stakeholders in TF ESC-B20 agenda intends to seek a realistic implementation the sustainable the energy transition with the independence energy scheme,”
TF ESC also plays a role as a catalyst in global cooperation with the collaboration agreements achievement of a minimum of 38 agreements from across countries. Around 11 countries are involved in the Business Action process in realizing the acceleration of the low-carbon project with a total project value of more than US$11.5 billion.
Another TF ESC implementation also opens up a business alignment opportunity globally. As recorded in the data, around 12 cross-country job opportunities have realized after the B20 was successfully conducted. From this strategic collaboration chances,
Generally, TF ESC B20 served as the bridge for the country with a high objective of achieving mutual agreement related to the global energy transition issue. The Task Force of ESC B20 has provided cooperation comprehension for the countries going through the energy transition with abundant fossil energy sources, including Saudi Arabia.
As it is well known, the Carbon Captures Utilization Storage (BBUS) technology development is one of the tangible manifestations of the TF ESC in bridging the energy transition comprehension. The CCUS technology is designed to capture the carbon dioxide released into the atmosphere, expecting to generate clean energy through this move.
Furthermore, TF ESC also delivers its other vision as the accelerator to realize the global objectives, including Net Zero Emission or carbon neutrality by 2060 to become the sustainable process for energy transition utilization. This goal is expected to transform polluted fossil energy into more environmentally friendly energy from the New Renewable Energy (EBT) improvement.
In response to the significant goals of this leading conference, Nicke, who also served as the President Director of Pertamina, ensured the company would oversee the three primary recommendations, which were discussed intensively by 152 participants from 25 representative countries.
The TF ESC-B20 program summarizes three final recommendations: expedite the energy transition into sustainable energy usage through the carbon intensity diminishment of the energy used; ensure the righteous and affordable transition; elevate the access and consumer ability to consume modern and clean energy.
These three main formulations aligned with the focus on strategic issues of the G20 Presidency and the Sustainable Development Goals (SDGs) targets. Nicke claimed this effort requires a global-scale transformation, including business models, governance frameworks, and well-rooted political economy considerations.
However, Nicke noticed that developed countries are ahead of the energy transition because of the strength of their governance framework, institutional capacity, and market development compared to developing countries. As a part of a strategic effort to resolve the issue, she expected global collaboration in capacity enhancement and augmented annual financial support for developed countries.
“Without the implementation of this strategic cooperation, this matter is a tough challenge for developed countries, exclusively related the funding the energy transition,” Nicke concluded.
