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By Shikin Louis
KUALA LUMPUR, June 26: Petroliam Nasional Berhad (Petronas) has convened the Energy Asia 2023 conference as it believes that the world cannot achieve net zero goals without Asia.
Put simply, net zero means cutting greenhouse gas (GHG) emissions to as close to zero as possible, with any remaining emissions re-absorbed from the atmosphere by oceans and forests, for instance.
Petronas president and group chief executive officer Tan Sri Tengku Muhammad Taufik said Asia currently represents 60 per cent of the world population, and by 2040, the region will represent half of the global gross domestic product (GDP) and 40 per cent of global consumption.
He mentioned that Asia comprises countries with vastly different economic maturities where GDP per capita ranges from a very modest USD2,000 to more than USD90,000.
However, he pointed out that the 350 million population in Asia still faces challenges in accessing affordable and reliable electricity. For many households across Asia, the struggle continues to be in determining how to survive the coming years as opposed to ensuring the next generation inherits a livable planet in the decades to come.
“Right here in Asean (region), all ten countries have submitted their Nationally Determined Contributions (NDCs) with most having pledged to a net zero aspirations.
“As Asean, we have even set up Asean Renewable Energy’s target of 23 per cent of the energy mix by 2025 (while) in Malaysia, the government has an NDC which aims to deliver 45 per cent reduction in carbon emissions by 2030, relative to 2005 levels, with the target of becoming net zero by 2050.
“Similarly, all our neighbours around us have ambitious targets,” he said during the opening ceremony of the Energy Asia 2023 conference held at the Kuala Lumpur Convention Centre (KLCC) today.
He further said Asia is among the first to acknowledge the threat of extreme climate change in many forms, such as floods, eroding coastlines, and biodiversity loss.
In the coming days, he believed more energy would be required in Asia’s development which is the same basic necessity that many matured economies have previously accessed reliably and affordably during their own times.
The inaugural conference, which will commence until June 28, is hosted by Petronas and co-created with Knowledge Partner CERAWeek, by S&P Global. It has gathered over 3,000 delegates, over 100 speakers and 46 sponsors.
The event would discuss alongside the world’s leading industry leaders, experts, investors and policymakers how Asia can accelerate low carbon pathways and unleash new potentials for the region’s energy sector.
Malaysian Prime Minister Dato Seri Anwar Ibrahim officiated the event. Also present was S&P Global chairman Daniel Yergin. — DayakDaily
