JAKARTA, Mar 10, 2022 - (ACN Newswire) - The B20 Energy, Sustainability & Climate Task Force, led by the largest Energy State-Owned Enterprise in Indonesia PT Pertamina (Persero), has proposed three green energy transition recommendations to be presented at the G20 high-level meeting in Bali in November 2022.
The three recommendations were agreed upon during the Business 20 (B20) Inception Meeting held virtually at the end of January 2022, as noted in a release issued by PT Pertamina and received here on Thursday.

The Business 20, or B20, is an outreach group from the G20 that represents the international business community.

Chair of B20 Energy, Sustainability, and Climate Task Force Nicke Widyawati emphasized the importance for Indonesia to transition to green energy as mandated by President Joko Widodo.

According to Widyawati, the energy transition effort is a challenge for all, but it should also be viewed as an opportunity to create sustainable economic growth in future by implementing good established scenarios and roadmaps, especially with regard to the financial aspects.

"The B20 Energy, Sustainability and Climate Task Force has the same priorities as Indonesia's G20 presidency in which we must be a strong green energy catalyst and go hand in hand with the principles of energy security, energy equity, and environmental sustainability," Widyawati, concurrently the president director of state-owned oil giant Pertamina, stated.

She further noted that the Task Force will formulate some policy recommendations for sustainable energy transition, with focus on three priority issues.

- First, the Task Force will put forth the recommendation on accelerating transition to sustainable energy use in order to ensure that global warming is limited to a maximum of 1.5 degrees Celsius.

With regard to such a recommendation, the main efforts identified for the energy transition policy is the development of alternative fuel industries around the use of hydrogen and biofuels.

- The second issue for recommendation is to ensure a fair and affordable way of transition as well as global cooperation on impact mitigation and support for adaptation to changes brought about by energy transition.

- The third is global cooperation in increasing energy security for households and MSMEs as a means to end extreme poverty and accelerate energy transition to sustainable energy use.

"Those three priority issues will form the basis for formulating policy recommendations from the Energy, Sustainability and Climate Task Force by considering other critical issues, such as carbon pricing, global cooperation, livelihoods, and institutional development for financing and technology adoption," Widyawati explained.

She also stated that energy is a binding constraint for sustainable economic growth and is a crucial matter for economic development to recover from the impact of the COVID-19 pandemic.

She also emphasized that urgent and focused action was currently needed to address various global challenges, including the lagging rate of energy transition, climate change due to anthropogenic greenhouse gas (GHG) emissions that have become a critical issue, and economic growth depending on fossil fuel energy consumption that contributed to most of the GHG emissions.

Widyawati also pressed for expediting energy transition globally while continuing to increase energy security and equity in an effort to sustain economic growth and reduce extreme poverty.

In addition, the financing gap must be bridged and investment must be shifted more to the energy transition infrastructure that can be paid for by carbon pricing, she remarked.

Widyawati also accentuated the importance of ensuring energy equity by increasing access to and affordability of clean and modern energy that is not only essential for a successful transition but also delivers environmental and economic benefits.

"Renewable energy-based power generation, electrification, and energy efficiency are the main pillars for faster energy transition, technology investment, and energy transition sector," she stated.

"However, developing countries still lack frameworks, well-established governance, markets, advanced financial services, trained workforce, and access to advanced technology. Those aspects are needed for changes (in energy transition), and all of them are owned by developed countries," she remarked.

At the B20 Inception Meeting, the Task Force Deputy Chair Agung Wicaksono stated that in order to seek inputs from businesspersons, the Task Force had also conducted a survey.

The survey covers 13 potential issues: institutional development, global cooperation, alternative energy sources, differential rates per sector, prevention of new carbon lockouts, carbon pricing, mitigation of financial impact, mitigation of loss of livelihoods, standardized ESG frameworks, ensuring orderly transitions, increasing access, affordability and adoption of end-user technologies.

Wicaksono stated that the survey results became the basis for the Task Force to formulate recommendations.

He also acknowledged that the energy transition efforts will require structured and committed global cooperation in improving governance capacity, supporting market development, channeling finance and technology, and upgrading workforce skills.

"The spirit, hard work, and commitment of this meeting continues, and it will bring global change for the better after the COVID-19 pandemic, so that we can Recover Together, Recover Stronger," he remarked.

Written by: Yuni Arisandy Sinaga, Editor: Fardah Assegaf (c) ANTARA 2022

Media Contact: Fajriyah Usman, Vice President Corporate Communications, PT Pertamina (Persero)
Mobile: +62 858 8330 8686, Email: fajriyah.usman@pertamina.com, URL: https://www.pertamina.com

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comThe B20 Energy, Sustainability & Climate Task Force, led by the largest Energy State-Owned Enterprise in Indonesia PT Pertamina (Persero), has proposed three green energy transition recommendations to be presented at the G20 high-level meeting in Bali in November 2022.

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Automotive Monthly Newsletter and Podcast
This month's theme: India's Decarbonization Goals and the EV Conundrum

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Electric vehicles (EVs) have occupied a lot of media space of late and are widely regarded as the next big breakthrough technology in the automotive world. Although EVs are as old as motor vehicles themselves, they lost the race to internal combustion engine (ICE) vehicles, running on liquid fuel, by the early 20th century. But with the rising threats of global warming and air pollution, EVs are back on the discussion tables of policymakers. ICE-powered conventional vehicles emit several pollutants, among which carbon dioxide (CO₂) is considered the most concerning emissions from a climate change perspective.

India is the third-largest emitter of CO₂ in the world, behind mainland China (almost four times of India) and the United States (two times of India), with its annual CO₂ emission doubling in the last decade. Although India's contribution to the cumulative global CO₂ emission, since the industrial revolution of the mid-19th century, is insignificant, its current position as an emerging economy and hence a big CO₂ emitter comes under environmentalists' lenses. Ever since the formation of the United Nations Framework Conventions on Climate Change (UNFCCC), India's position has been to put its socio-economic development above the resultant CO₂ emissions and refrain from putting itself in the same carbon-reduction target brackets as the developed nations. Nonetheless, India has been an active and important party in all global climate action summits and conferences, negotiating for emerging economies who came late to the 'development' party.

This stance remained consistent until 2014 when a new government came to power that had intentions of not only being a mere party in global climate action strategies but of taking a leadership position. Eventually, India ratified the Paris Agreement during the COP21 held in 2015 and pledged to reduce the carbon intensity of its economy by 33- 35% by 2030 compared with 2005 levels and committed to achieving a non-fossil share of cumulative power generation of 40% by 2030. India also announced to install 2.5-3 billion tons of CO₂ equivalent carbon sink by 2030.

In 2013, under the National Electric Mobility Mission Plan (NEMMP), it was envisioned to transform the mobility landscape in India and make EVs an important part of it. As a result, a new EV promotion scheme was drafted by the Ministry of Road Transport and Highways (MoRTH). By the time it was rolled out in April 2015, it was named the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme and a new government was in power. The creation and expansion of the low-speed e-scooter segment aside, Phase 1 of FAME (April 2015 to March 2019) did not exactly produce the results as intended.

Considering India's Paris Agreement goals and COP21 commitments, the government redesigned Phase 2 of the FAME scheme—an outlay of INR10,000 crore (USD1.4 billion) over three years starting April 2019 and focusing on 2-wheelers (2W)/3-wheelers (3W)/bus segments that move about 85% of the people of India. Simultaneously, EVs were brought under the 5% bracket of GST to entice automakers into launching new EV offerings, and an additional income tax reduction clause was introduced as an additional incentive for prospective EV buyers. However, after two years of Phase II, about 2% of the total outlay for this phase got utilized. In this period, the sales figures tell a sorry tale—fewer than 10,000 electric passenger vehicles (PVs) and fewer than 300,000 electric 2Ws were sold.

In 2021, Primer Minister Narendra Modi announced at COP26 that India would achieve net-zero emissions by 2070. Road transport is expected to be a significant contributor to India's decarbonization plans. According to the International Energy Agency (IEA), transportation sector is the third-largest CO₂ emitter in India, following the energy sector (i.e., electricity and heat producers) and the industry sector. Road transport, estimated to account for about 270- 290 metric tons (Mt) CO₂ emissions and 18% of India's total CO₂ emissions in 2020, is the top contributor in the transportation sector carbon emissions and emits more than the energy-intensive industries such as steel (242 Mt CO₂ in 2020) and cement (143 Mt CO₂ in 2020) production. The business-as-usual development mode is expected to result in 1.2- 1.5 Gt CO₂ emissions from the transportation sector in 2050, according to multiple research sources.

India's light-duty vehicle fleet has advanced to fuel consumption reduction from 6.9 L/100 km in 2005 to 5.7 L/100 km in 2019, contributed by higher diesel vehicle share and overall lighter vehicle weight. However, increased personal vehicle ownership and use is foreseen with the economic and pollution growth combined, and will inevitably result in more annual CO₂ emissions in the short term. The transportation sector may have to lag the overall 33- 35% decarbonization goal from 2005 levels (i.e., 115 Mt CO₂ sector level) by 2030, thus needing significant innovative technologies, strategic planning, and effective regulatory leverages to keep the sector aligned with the net-zero climate ambition. Acceleration in further vehicle efficiency improvement, fleet electrification, alternative fuels, along with mobility mode innovations will be the key solutions.

India has required fuel efficiency labeling for new vehicles since 2011 and regulated PV fuel efficiency since 2014. The current target is 4.77 L/100 km (113 g/km CO₂ equivalent) for 2022 based on the New European Driving Cycle (NEDC). The FAME II scheme has been extended through 2024 to promote EV production and charging infrastructure deployment.

Overall, considering the level of visibility on the policy front, carmakers' product development strategies, oil price, and consumer evolution, we expect the share of EVs to reach about 9% by 2030 in a base case scenario. But if policy support in terms of the special tax on manufacturing and sales and direct subsidy continues, with stricter CO₂ regulations, the share of EVs could be higher ranging from 16% to as high as 21% by 2030.

Having said that, fiscal year (FY) 2021 (April 2020 to March 2021) had been a positive year as sales of electric PVs grew 110% owing to a low base; from about 2,850 units in FY 2020 to about 6,000 units in FY 2021 as reported by the Society of Electric Vehicle Manufacturers (SMEV) of India. And the electric PVs sales for the first half of the current FY 2022 have already crossed the FY 2021 annual sales. The main driver for this was the introduction of EV policies by several states of India led by Maharashtra, New Delhi, and Gujarat, which acted as an additional incentive over the FAME subsidies.

Interestingly, in the EV space, domestic carmakers have taken a lead as Tata Motors currently holds almost 60% of the market. IHS Markit's estimates show that Tata Motors will continue to maintain a leadership position even in the longer horizon. We do expect the current conventional vehicles market leaders such as Maruti Suzuki and Hyundai, and other carmakers like Mahindra and Kia to introduce serious EV products into this space in the next four to five years.

Overall, considering the level of visibility on the policy front, carmakers' product development strategies, oil price, and consumer evolution, we expect the share of EVs in Light Vehicles (LVs) up to 3.5 tons of Gross Vehicular Weight to reach about 9.3% in 2030 (as shown in the figure). Within LVs, we expect the Light Commercial Vehicles (LCV) category to achieve greater electrification of about 15% by 2030.

For the PV category, the share is expected to be about 8.3% in 2030 in a base case scenario. The B-segment SUV-bodystyle is expected to be the most popular segment for EV adoption. If policy support in terms of the special tax on manufacturing and sales and direct subsidy continues, with stricter CO₂ regulations, the share of EVs could be higher ranging from 16% to as high as 21% by 2030.

Notes:

1. The data and chart used in the article are based on the Production-based Powertrain dataset. Currently in India, almost 100% of EV production is for domestic sales and hence production can be used as a reliable proxy for sales.
2. EV in this article only represents pure Battery Electric Vehicles.

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Studies at Rensselaer Polytechnic and other reputable institutions point out that hemp could be a perfect replacement for steel. These scientists claim these plants are phenomenal crops meant to be mass-cultivated on industrial scales to produce dozens of products. For example, the various car parts produced from steel or plastic can be alternatively made from hemp. And hemp is a much stronger and more durable raw material than steel and plastic. Yes, hemp is stronger than both materials and products derived from the crop that have long-lasting lifespans.

Wild cannabis and hemp plants have a long-standing relationship with the villages in the Himalayas. As you ascend the mountains, more and more wild cannabis plants can be sighted, growing in patches along the slopes. Some villages are nestled in the leafy embrace of tall cannabis plants. Hemp is a prevalent crop within these rural communities.

If you want to help save the planet, gender equality should be at the heart of climate action.

HONG KONG, Feb 7, 2022 - (ACN Newswire) - Synergy Group Holdings International Limited, stock code 1539.HK ("Synergy Group" or "The Group")(1) has successfully acquired verification statements of Greenhouse Gas (GHG) emissions granted by CMA Testing and Certification Laboratories under CMA Industrial Development Foundation Limited (CMA Testing(2)). The Group's projects were quantified to achieve emission by a total of 7,146.74 tonnes of CO2e (Carbon Dioxide Equivalent)(3). The GHG emission inventories have been verified in accordance with ISO14064-3:2019(4) as meeting the requirement of ISO14064-1:2018(4).

The Group Chairman and Chief Executive Officer Mr. Mansfield Wong commented, "It is a global uphill battle when it comes to reaching carbon neutral targets. Our goal is to reduce GHG emissions and strive to achieve carbon neutrality in the near future. The Group is actively formulating a commercial scheme to assist other companies in neutralizing their GHG emissions."

As of today, the Group has verified 7,146.74 tonnes of CO2e in total, which is estimated to be accounted for approximately 1% of the Group's total GHG emission inventory, the remaining inventories are being certified. Current carbon credit prices(5) are quoted by different international Carbon Credit Exchanges(5) ranging from RMB56 to EUR89 per tonne. The Group expects the global carbon credit prices(5)and market-based emission trading schemes continued to grow gradually as we are approaching the targets of Hong Kong's Climate Action Plan 2050(6), China's Carbon Dioxide Peaking 2030(7) and Carbon Neutrality 2060(7). Driving GHG emission is imminent action to curb global warming effects, the Group has set out its priorities for investing in carbon markets. The Group is committed to creating environmental sustainability through its experienced GHG emission management and green technological innovations.

Media enquiries:

New Smile Limited Strategic IR & PR Consultancy
Tel: +852 2126 7076
Jenny Lai jenny.lai@newsmilehk.com
Jenny Cheung jenny.cheung@newsmilehk.com

Notes to editors:

1. Synergy Group Holdings International Limited ("Synergy Group" or "The Group")

Founded in 2008, Synergy Group Holdings International Limited (Stock code: 1539.HK), as the first Energy Service Company (ESCO) to be listed on the Hong Kong Stock Exchange, is one of the leading integrated energy saving and management solutions providers based in Hong Kong. The Group together with its subsidiaries, is principally engaged in design and customisation, investment, installation and commissioning, operation and maintenance of (i) energy efficiency technology; (ii) renewable energy; and (iii) energy storage and distributed energy resources. Serving clients in over 20 countries, businesses cover large multi-million projects in Malaysia, Indonesia and South Africa.

2. CMA Testing

Established since 1979, CMA Testing, a subsidiary of The Chinese Manufacturers' Association of Hong Kong, is a large-scale quality assurance center, specializes in testing, inspection and certification services. CMA Testing is also a third-party laboratory accredited by The Hong Kong Laboratory Accreditation Scheme (HOKLAS) and an inspection body accredited by The Hong Kong Inspection Agency Accreditation Scheme (HKIAS). CMA Testing's global footprint spans over 12 countries in Asia, Middle East, Europe and North America.

3. Carbon Dioxide Equivalent (CO2e)

CO2 refers to Carbon Dioxide, while CO2e stands for "Carbon Dioxide Equivalent" which includes CO2 and other greenhouse gases. For any quantity and type of greenhouse gas, CO2e signifies the amount of CO2 which would have the equivalent global warming impact.

4. ISO14064 Greenhouse Gas Calculation and Verification Management System

ISO14064-1: Specification with guidance at the organization level for quantification and reporting of greenhouse gas emissions and removals
ISO14064-2: Specification with guidance at the project level for quantification, monitoring and reporting of greenhouse gas emission reductions or removal enhancements
ISO14064-3: Specification with guidance for the verification and validation of greenhouse gas statements

5. Carbon Credit Price Index

While Hong Kong is still exploring the feasibility to have a platform for carbon trading exchange, the Company has made references to other international exchange platform or publicly available sources for the current market prices:

As of Country/Region Product(Quote) Individual exchange/ publicly available sources for reference:
27/1/2021 China CEA(RMB56.00 per tonne) Exchange: Shanghai Environmental and Energy Exchange https://www.cneeex.com/c/2022-01-27/491999.shtml

27/1/2022 Europe EUA Futures - Jan 22(EUR89.00 per contract) Exchange: Intercontinental Exchange https://www.theice.com/products/197/EUA-Futures/data?marketId=6817108

27/1/2022 California, US CBL California Carbon Allowance Vintage-Specific 2021 Feb 22(USD29.59 per contract) Exchange: New York Mercantile Exchange
https://tinyurl.com/2p97hrrf

30/9/2021 Australia Australian Carbon Credit Units(AUD26.50 per certificate) Source: Clean Energy Regulator, Australian Government
https://tinyurl.com/bddbrmyv

6. Hong Kong's Climate Action Plan 2050

The Government today (October 8) announced Hong Kong's Climate Action Plan 2050, setting out the vision of "Zero-carbon Emissions.Liveable City.Sustainable Development", and outlining the strategies and targets for combating climate change and achieving carbon neutrality.
< https://www.info.gov.hk/gia/general/202110/08/P2021100800588.htm?fontSize=1 >

7. China's Carbon Dioxide Peaking 2030 and Carbon Neutrality 2060

The Communist Party of China Central Committee and the State Council on Oct 24 jointly released a document titled: Full Text: Working Guidance For Carbon Dioxide Peaking And Carbon Neutrality In Full And Faithful Implementation Of The New Development Philosophy ( www.gov.cn )
< https://tinyurl.com/yc59ycnb >


Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comSynergy Group Holdings International Limited, stock code 1539.HK ("Synergy Group" or "The Group")(1) has successfully acquired verification statements of Greenhouse Gas (GHG) emissions granted by CMA Testing and Certification Laboratories under CMA Industrial Development Foundation Limited (CMA Testing(2)).

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Concerns regarding food security arise from population growth, global warming, and reduction in arable land. With advances in synthetic biology, food production by microbes is considered to be a promising alternative that would allow rapid food production in an environmentally friendly manner. Moreover, synthetic biology can be adopted to the production of healthier or specifically designed food ingredients (e.g., high-value proteins, lipids, and vitamins) and broaden the utilization of feedstocks (e.g., methanol and CO2), thereby offering potential solutions to high-quality food and the greenhouse effect.