The world is facing unprecedented and complex challenges in the effort to achieve a net zero future. Asia's energy landscape, in particular, is impacted by an uncertain economic outlook, high energy prices, growing energy demand and rising emissions. A paradigm shift is required to sustain the energy transition and galvanise international efforts to respond to these challenges.
Against this backdrop, Mr Ngiam Shih Chun, Chief Executive of the Energy Market Authority of Singapore (EMA), unveiled the theme for the Singapore International Energy Week (SIEW) 2023 - "Energy Transition Towards a Net Zero World" - at the SIEWConnects@KPMG networking event.
Speaking to over 200 guests on 14 April at KPMG Singapore's office, Mr Ngiam said, “This year’s theme, Energy Transition Towards a Net Zero World, will focus discussions on how we can enhance and co-create pathways for Asia and the world to accelerate the transition towards a net zero energy future. Governments, multilateral institutions, and industry leaders must continue to deepen regional and international collaboration to support the energy transition."
Mr Ngiam Shih Chun, Chief Executive, Energy Market Authority of Singapore
Mr Ngiam added that the theme will address financing and investment gaps, with a focus on scaling up the bankability of renewable and low-carbon technologies such as hydrogen. Discussions will also centre on policies that governments and industries can put in place to deploy low-carbon technologies to decarbonise and accelerate electrification, as well as how governments, multilateral institutions and industry leaders can work together to support the energy transition towards a net zero future.
Attendees during the theme announcement
Continuing Our Net Zero Transition
Mr Sharad Somani, Partner, Advisory and Head of Infrastructure, Asia Pacific, KPMG Singapore
Also speaking at the event, Mr Sharad Somani, Partner, Advisory and Head of Infrastructure, Asia Pacific, KPMG Singapore, highlighted key ASEAN developments in the transition to net zero. With 50 percent of global greenhouse gas emissions originating from the region, he noted the growing demand for sustainable energy from both consumers and industries.
Despite Southeast Asia's reliance on fossil fuels for energy generation, the shift towards green energy will continue to be crucial. Mr Somani highlighted the importance of leveraging a variety of options, such as green hydrogen, digital technologies, and sustainable financing in advancing the region's net zero journey. He concluded by reiterating Southeast Asia's progress and potential to achieve a net zero transition.
Conversations at SIEWConnects@KPMG
Attendees Networking at SIEWConnects@KPMG
SIEWConnects@KPMG brought together leaders from both the public and private sectors to connect and engage in meaningful conversations. Attendees had the opportunity to network with like-minded individuals and gain valuable insights. Overall, the event was a testament to the power of collaboration between the public and private sectors in creating positive change and driving progress in the energy transition towards a net zero world.
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