Tag: Oil
Intraday Market Analysis – The euro makes a reversal attempt
EURUSD bounces back The euro rallies on news that the EU may issue a joint bond to fund energy and defense. The pair found bids near May 2020’s lows (1.0810). An oversold RSI on the daily chart prompted sellers to take profit, easing the downward pressure. A rally above the immediate resistance at 1.0940 and […]
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B20 Task Force Proposes 3 Green Energy Transition Recommendations
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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.
Technicorum and Tradera Launched the First NFT Project with Sweden’s Most Prominent Artist Ernst Billgren
Technicorum Holdings, a global investment and compliance company headquartered in Singapore, specialising in digital assets like blockchain-based products, today announced the launch of "Twelve Gates" Non-Fungible Tokens with Ernst Billgren and Tradera.com. The digital collectibles, created by one of Sweden's most prominent artists and authors, will be showcased in an auction online at Tradera.com from March 15th, 2022, until March 27th, 2022.
Ernst Billgren, one of Sweden's most famous artists and celebrities, together with Tradera, the leading circular economy marketplace in Sweden, will now start its collaboration in the NFT sphere. The aim is to investigate the potential that blockchain technology provides to the art industry, such as traceability of sales, automatic percentage of future sales going to the original creator, ownership status, and the future possibility of evolving definitions of what art is and what can be bought and sold in the art context.
The first NFT auction will start on the 15th of March 2022 at Tradera.com. The auction includes a digital art piece, a physical painting, and a text about art written by Ernst. Bidding will be made in Swedish Krona. The buyer and seller may also agree on doing the transaction in another fiat or crypto currency.
The NFT series is curated by Jan Åman and Daniel Daboczy, in a series of twelve works of art called the "Twelve Gates," with the first artwork being called "EGO". Ernst Billgren's physical oil painting "EGO" is extended into a digital world through NFTs. The painting will also be showcased at Taverna Brillo in Stockholm.
Commenting on the collaboration with Ernst Billgren and Tradera.com, Daniel Daboczy, Chief Executive Officer of Technicorum Holdings, said, "Our development team has global experience in developing smart contracts with high accuracy and enhanced security measures." Daniel also added: "Our primary aim is to create high-standard smart contracts for the Ernst Billgren and Tradera.com NFT projects and ensure that the protocols are programmed with respect to Tradera.com's NFT marketplace business models."
"The digital art industry needs a solution to verify authenticity and ownership, and artists are looking for opportunities to monetise on the value increase of their work. NFT technology could be the solution. We aim to examine this together with established, well-known artists, and we're excited to start with Ernst Billgren." said Stefan Öberg, CEO of Tradera.
The digital and physical artwork "EGO" will be auctioned on Tradera.com. All artworks will have a unique digital smart contract that will be deployed by Technicorum Holdings. The digital collectible is programmed on open-source blockchain software with a unique digital signature that makes it impossible for it to be exchanged interchangeably. The full ownership of the artwork and transaction will be recorded on the blockchain network and made transparent to the public.
ABOUT TRADERA
Tradera.com is the leading circular economy marketplace in Sweden, based in Stockholm. Tradera has over 3 million members, 6 million weekly visits, and more than 4 million listings. Items on Tradera are sold by both private consumers and businesses and range from fashion interior design to tech and collectibles. Tradera users are primarily based in northern Europe and they can purchase second-hand items through auctions and fixed-price listings. Tradera was founded in 1999 and was acquired by eBay Inc in 2006. The company was then acquired by Paypal. Since December 2021 the company is wholly owned by the management team of Tradera.
ABOUT TECHNICORUM GROUP
Technicorum Holdings comprises several subsidiaries, some of which are regulated and specialise in various industries in the field of digital assets, DeFi, GameFi, SocialFi, the Metaverse, etc. Its fully owned subsidiary, Gravitas International Associates Pte Ltd, is a Singapore-registered Fintech company certified by Singapore FinTech Association as an authorised blockchain & DLT provider, e-wallet, core banking, digital exchange Platforms, digitisation and tokenization, platforms, products, and services. The Technicorum group has numerous reference projects, and clients, including over 100 ICOs/IEOs/IDOs/STOs completed through its subsidiaries over the last four years.
Website: https://www.technicorum.com/
Media Contact: vytautas@technicorum.com
Press Contact
Company Name: Technicorum Holdings
Contact Person: Vytautas Visinskis
Email: vytautas@technicorum.com
Website: https://www.technicorum.com/
SOURCE: Technicorum HoldingsRobert Kiyosaki Says ‘We Are in Biggest Bubble in World History’ — Warns Government Will Seize All Cryptocurrencies
The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has made some gloomy predictions about the economy and the future of cryptocurrency. Besides warning that we are in the biggest bubble in world history, Kiyosaki has predicted that the government will seize all cryptocurrencies.
Robert Kiyosaki Warns of the Biggest […] Airfares on the rise as fuel costs soar
Qantas CEO Alan Joyce has said that Qantas fares will increase by 7 per cent initially to account for increasing oil costs, however, could see further price hikes in the future. Latest Intelligence
