ERIA Attends the Virtual 14th EAS Energy Ministerial Meeting
Jakarta, 20 November 2020: The 14th East Asia Summit (EAS) Energy Ministers Meeting, hosted virtually by the Ministry of Industry and Trade of Viet Nam, raised issues of clean and sustainable energy transition with affordable prices within the ASEAN region as well as regional and international cooperation to support the agenda.
The meeting was chaired by Mr Dang Hoang An, Vice Minister of the Ministry of Industry and Trade, Viet Nam. In his opening remarks, he highlighted that energy demand in the region is forecasted to increase by more than 50% from 2014 to 2040, especially in the transport and industry sectors. The increase in energy demand will affect carbon emissions every year. Mobilizing low carbon financing in the energy sector is thus becoming crucial. In this regard, strengthening partnerships and research innovation for sustainable energy transformation amongst member countries is necessary. Mr Dang Hoang An also stressed the need for strong commitments to liquified natural gas (LNG) including the development of LNG infrastructure, as well as biofuels, and the role of clean coal technology, to shift to the low-carbon economy.
Delegations from non-ASEAN EAS participating countries: Australia, China, Japan, Republic of Korea, Singapore, New Zealand, Russia Federation, and the United States delivered their opening remarks. Issues that were covered included the significance of ensuring affordable clean and sustainable energy to support the economy and achieve SDG targets by 2030. Several countries, such as China, Japan, the Republic of Korea, and Singapore, stated their commitment to carbon neutrality by 2050. The importance of Carbon Capture, Utilization, and Storage (CCUS), as well as carbon recycling, will also support economic growth in the region. International and regional partners with ASEAN member states in energy development will speed up countries’ efforts to improve energy policy in order to support economic recovery and reduce carbon emissions.
Deputy Secretary-General of the ASEAN Secretariat, Dr Aladdin D. Rillo, presented key outcomes of the 15th EAS and other relevant development. During the summit, the leaders agreed to accelerate regional partnership on common interests through the EAS Plan of Actions, particularly the need to accelerate regional economic growth and recovery within several areas, such as energy, environment, economic cooperation, trade, and connectivity.
In the last session, international organizations including ASEC, IRENA (International Renewable Energy Agency), ACE (ASEAN Center for Energy), ERIA, and IEA (International Energy Agency), delivered their experiences and opportunities for sustainable energy development of each ASEAN members. They showed their commitment to support ASEAN countries to accelerate low carbon and renewable energy development to diversify energy supplies, which will help to fulfill climate change mitigation and to achieve carbon emission targets.
The next EAS-Energy Ministers’ Meeting will be hosted and held in Brunei Darussalam in October 2021.