APEC Symposium on the Holistic Approachof Decarbonization towards Carbon Neutrality
APEC Energy Working Group
February 2023

APEC Symposium on the Holistic
Approach of Decarbonization
towards Carbon Neutrality
SUMMARY REPORTAPEC Energy Working Group

February 2023

APEC Project: EWG 05 2021S

Produced by
Asia-Pacific Energy Research Centre (APERC)
11F, 1-13-1 Kachidoki, Chuo-ku
Tokyo 104-0054
Japan
For
Asia-Pacific Economic Cooperation Secretariat
35 Heng Mui Keng Terrace
Singapore 119616
Tel: (65) 68919 600
Fax: (65) 68919 690
Email: info@apec.org
Website: www.apec.org© 2023 APEC Secretariat
APEC#223-RE-04.2

Table of Contents

1. Background................................................................................................................ 1
2. Objective ................................................................................................................... 1
3. Symposium Description .............................................................................................. 1
4. Symposium Session Summary..................................................................................... 1
4-1. Opening Session ................................................................................................................ 1
4-1-1. Opening Remarks ................................................................................................................................ 1
4-1-2. Keynote Speech: Necessity of the Holistic Approach of Decarbonization towards Carbon
Neutrality in the APEC Region ....................................................................................................................... 1

4-2 Potential of Decarbonization towards Carbon Neutrality in the APEC Region ........................ 2
4-3. Hydrogen and Ammonia including infrastructure issues ...................................................... 3
4-3-1. Clean Hydrogen (by Video) ................................................................................................................. 3
4-3-2. Ammonia ............................................................................................................................................. 4

4-4. Energy Saving .................................................................................................................... 5
4-4-1. Energy Efficiency of Buildings ............................................................................................................. 5
4-4-2. Demand Side Energy Management .................................................................................................... 6

4-5. Renewables Energy in the power sector. ............................................................................. 7
4-5-1. Wind Power in the APEC region (including offshore): Experience of Chinese Taipei ........................ 7
4-5-2. Solar Power in the APEC region .......................................................................................................... 7
4-5-3. Geothermal Power in the APEC region ............................................................................................... 8

4-6. Issues for Electricity Security: To Cope with Increasing Intermittent Renewables Power
Sources .................................................................................................................................... 8
4-6-1. Grid Infrastructure............................................................................................................................... 8
4-6-2. Power Storage ................................................................................................................................... 10
4-6-3. Electricity Security in regards to Clean Energy Transitions .............................................................. 11

4-7. Keynote Speech: The role of Carbon Capture Coupled to Dedicated and Reliable Storage in
Helping to Meet Net-Zero Carbon Emissions Goals (by video) .................................................. 11
4-8. CCUS in the APEC region................................................................................................... 12
4-8-1. CCUS in the APEC region: An expert view from Australia ................................................................ 12
4-8-2. CCUS in the APEC region: An expert view from Indonesia ............................................................... 13

4-9. Nuclear Energy in the APEC region.................................................................................... 14
4-9-1. Nuclear Energy in the APEC region: An expert view from Korea ..................................................... 14ii

4-9-2. Nuclear Energy in the APEC region: An expert view from Southeast Asia ...................................... 14

4-10. Transition Finance including finance for LNG as a transitional fossil fuel and back-up forintermittent renewables ......................................................................................................... 15
4-10-1. Transition Finance including finance for LNG as a transitional fossil fuel and back-up forintermittent renewables: A view of a private financial institution ............................................................ 15
4-10-2. Transition Finance including finance for LNG as a transitional fossil fuel and back-up forintermittent renewables: A view of a government financial institution (by video) .................................. 16

4-11. Panel Discussion: How to Pursue Carbon Neutrality while Strengthening Energy Security
and Resiliency in the Asia Pacific Region.................................................................................. 17
4-11-1. Report from ABAC Sustainability Working Group .......................................................................... 17
4-11-2. Report from ERIA on Decarbonization Scenarios for ASEAN ......................................................... 18
4-11-3. Panel Discussion on Energy Security .............................................................................................. 18
4-11-4. Panel Discussion on Energy Resiliency ........................................................................................... 20

4-12. Closing Remarks............................................................................................................. 21

5. Symposium Analysis ................................................................................................. 21
6. Appendix 1: Agenda ................................................................................................. 23
7. Appendix 2: Presentation Materials.......................................................................... 28iii

1. BackgroundIn energy transitions, there is no “single best solution” for achieving carbon neutrality or “net-zero”,
as each APEC economy has different economic and social structures, and geographical situations.
APERC strongly believes that various, pragmatic and sustainable decarbonization pathways, thatreflect the different circumstances of each economy, are essential to achieving the energy transitions.
To facilitate these transitions, it is beneficial to share knowledge and experience among member
economies. For that purpose, APERC organized the symposium as an APEC project under the auspicesof Japan’s Ministry of Economy, Trade and Industry (METI).

2. Objective
The symposium was held to demonstrate the importance of the holistic approach of decarbonizationin pursuit of carbon neutrality. It was intended to enhance the capacity of APEC economies to pursue
decarbonization towards carbon neutrality.

3. Symposium Description

APEC Symposium on the Holistic Approach of Decarbonization towards Carbon Neutrality was held
online on August 30th and 31st, 2021. The two-day symposium consisted of the following three parts:
Opening Session included opening remarks and keynote speech.
Presentations and Panel Discussions on various topics regarding carbon neutrality from experts
and related Q&A.
iii) Closing Remarksi)ii)

The agenda and presentation materials are included in the Appendices.

4. Symposium Session Summary
4-1. Opening Session
4-1-1. Opening Remarks
Dr. Kazutomo Irie, President, Asia Pacific Energy Research Centre (APERC)
Dr. Irie welcomed all participants. The objective of the symposium was then introduced: todemonstrate the importance of a holistic approach to decarbonization in pursuit of carbon neutrality.
Dr. Irie emphasized that various pragmatic and sustainable decarbonization pathways, that reflect thedifferent circumstances of each economy, are essential for achieving each economy’s energy transition.
The importance of sharing knowledge and experience among member economies to facilitate thesetransitions was also mentioned. The opening remarks were concluded after the introduction of thetwo-day agenda.
4-1-2. Keynote Speech: Necessity of the Holistic Approach of Decarbonization towards Carbon

1Neutrality in the APEC Region
Mr. Shinichi Kihara, Deputy Commissioner for International Affairs, Agency for Natural Resources andEnergy (ANRE), Ministry of Economy, Trade and Industry (METI), Japan
Mr. Kihara emphasized the necessity of each economy’s work to reduce CO2 emissions given
the increasing rate of extreme weather events around the world. Mr. Kihara then introduced Japan’scommitment towards carbon neutrality by 2050, to reduce its GHG emissions by 46% in 2030 from2013 level, and Japan’s “Green Growth Strategies”. While energy demand in APEC economies willcontinue to grow, it is important to simultaneously reduce CO2 emissions in a safe and affordable
manner. As circumstances differ among economies, there are many paths towards carbon neutrality.:
Introducing renewable energies, improving energy efficiency, introducing both smart grids and energy
storage, and switching to cleaner fuels are all effective options on any pathway. In the future, theutilization of hydrogen and ammonia, CCUS, and nuclear power will also become realistic options.
Mr. Kihara alsomentioned “Asia

EnergyTransition

Initiative(AETI)”.

Inthat

initiative, Japan committed to support each economy’s effort in decarbonization in the ASEAN
region with five concrete actions. Finally, the upcoming “Tokyo Beyond Zero Week” conference wasintroduced.
4-2 Potential of Decarbonization towards Carbon Neutrality in the APEC Region
Mr. Takahiko Tagami, Senior Coordinator, The Institute of Energy Economics, Japan (IEEJ)

Mr. Takahiko Tagami (Senior Coordinator, IEEJ) presented “Potential of Decarbonization towards
Carbon Neutrality in the APEC Region.”
The IEEJ Outlook, of which results are utilized to estimate CO2 emission reduction potential in the
APEC region, covers 19 APEC member economies other than Peru and Papua New Guinea. This analysis
defines CO2 emission reduction potential as the difference between the "Reference Scenario” (thescenario in which past trends, such as economic and social structures and technology evolution, willcontinue) and the "Circular Carbon Economy/4R Scenario” (the scenario in which powerful energy andenvironmental policies result in success to the extent possible and decarbonization technologies using
fossil fuels are introduced to the likely extent determined by the IEEJ’s expertise).
The breakdown of the CO2 emission reduction potential of 10.3Gt by technical field shows that
renewable energy has the highest potential at 3.2Gt, accounting for 31.1% of the total. Increased
energy conservation is 3.1Gt (30.4% of the total). Hydrogen/ammonia technologies are 2.4Gt (23.3%of the total). CCUS technologies are 1.1Gt (10.2% of the total). Nuclear power in the APEC region is thelowest at 0.5Gt (5.0% of the total).
The breakdown of the CO2 emission reduction potential by economy shows that China has the highest
potential of 4.9Gt, accounting for 47.2% of the entire APEC region. The United States follows China at

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1.9Gt (18.8% of the total), followed by Indonesia (0.7Gt, 6.7% of the total) and Russia (0.5Gt, 5.2% of
the total).
CO2 emission reduction potential by technology is as follows:- Efficiency: In 2050, China is expected to account for the largest share in total APEC CO2 emission
reduction at 40%, followed by the United States (22%), Indonesia (8%) and Russia (7%).
- Renewables: The largest contribution to emission reduction potentials in the APEC region (3,137 Mt)
comes from China (1,734 Mt), followed by the US (755 Mt).
- Hydrogen: APEC economies will introduce hydrogen, with the largest volume of demand from China,
the United States and Republic of Korea.
- CCUS: The largest contribution to emission reduction potentials come from China (459 million tons),
followed by Indonesia (183 Mt), the United States (130 Mt) and Russia (122 Mt).
- Nuclear: China has the largest emission reduction potential, with 190 Mt in 2050, followed by Viet
Nam with 79 Mt, Japan with 51 Mt, and the United States with 50 Mt.
Q: Chinese Taipei, Republic of Korea and Hong Kong, China have larger shares of CO2 emission
reduction potential by hydrogen than other economies. Are there any reasons behind this?
A: Chinese Taipei, Republic of Korea and Hong Kong, China are major energy importing economies in
the APEC region. Therefore, they have larger potentials to reduce CO2 emission reductions by usinghydrogen and ammonia than other economies.
4-3. Hydrogen and Ammonia including infrastructure issues
4-3-1. Clean Hydrogen (by Video)
Dr. Sunita Satyapal, Director, Hydrogen and Fuel Cell Technologies Office, Office of Energy Efficiency
and Renewable Energy (EERE), and DOE Hydrogen Program Coordinator, Department of Energy, USA
The United States has set goals to have a carbon pollution-free power sector by 2035 and a net-zero
economy by no later than 2050. Multiple pathways are being explored to reach those goals andhydrogen will play an important role in them. The US Department of Energy (DOE) Hydrogen Programsupports research, development, demonstration, and deployment (RDD&D) efforts to accelerate cleanhydrogen RDD&D

across sectors. The DOE Hydrogen Program includes participation from multiple

DOE offices, and released a coordinated Hydrogen Program Plan in November 2020 providing astrategic framework to advance the domestic production, transport, storage, and use of cleanhydrogen across different sectors of the economy.

Current hydrogen production in the United States is approximately 10 million tonnes, primarily
through steam methane reforming using natural gas, and there are over 172 MW of polymer
electrolyte membrane-based electrolyzers installed. Scenarios show potential for a 5X growth in3

hydrogen production from current levels, across various applications. Hydrogen is also considered anenabler for renewable energy and long duration energy storage. For example, if 10 million additional
tonnes of hydrogen were to be produced today, this would roughly double the current wind and solar
deployment in the U.S.

Within HFTO, many initiatives exist to address different areas of the hydrogen value chain.
Deploying hydrogen at commercial scale and at low cost is a key challenge. The H2@Scale initiative
aims to enable commercial scale hydrogen production and consumption to support deep
decarbonization, economic growth and environmental justice objectives. The program contains
funding for various stages of RDD&D.
In June 2021, the U.S. Department of Energy launched the Hydrogen Energy Earthshot initiativewith the objective of producing 1 kg of clean hydrogen at 1 U.S. dollar in 1 decade (“ 1 1 1”). The
Hydrogen Shot is open to different pathways for producing clean hydrogen such as electrolysis, thermal
conversion with carbon capture and storage, and other advanced pathways such as advanced water
splitting, biological approaches and more. In addition to Hydrogen Shot, the Program is focusing onhydrogen distribution and storage, fuel cells (such as for trucks as well as stationary applications), andend uses including industrial (e.g., steel manufacturing), ammonia production, and energy storage.
4-3-2. Ammonia
Mr. Shigeru Muraki, Representative Director, Clean Fuel Ammonia Association, Japan
Transporting and utilizing hydrogen are important parts of the hydrogen value chain. Ammonia is
proposed as a way of storing hydrogen in a liquid form, allowing for easier transportation and readyutilization in end-use applications, such as power generation. Ammonia has many appealing
properties: it can be directly combusted without producing CO2 emissions; a large commercial supply
chain exists with clear cost structures; safety standards exist and are practiced in several industries;
and it can be effectively used to transport hydrogen using marine transportation.
Ammonia as a hydrogen carrier is in the early stages of demonstration. Japan and other economies
in northeast Asia are test-beds for developing blue and green ammonia value chains. 1 GW coal power
plant demonstration is currently being conducted. Depending on the result, the company will soon
make a final decision on using ammonia in their boilers from around 2027, which marks the start ofthe commercialization of ammonia in coal boilers. For reference, 1 GW coal plant co-firing with 20%
ammonia will require 0.5 million tons of ammonia per year. Demand of 0.5-1 million tons per year is
expected around 2027, and then ammonia will expand to other uses, such as industrial furnaces andmarine engines.
The Clean Fuel Ammonia initiative is a phased implementation plan. Phase I includes mixed
combustion in coal power generation as a first step to entering the energy market. At the same time,4the development of ammonia supply infrastructure is required. Japan needs to develop theinfrastructure to accommodate large ammonia carriers. The goals of phase II are to have ammonia
single-fuel combustion in both coal power plants and advanced combined-cycle gas turbines and to
expand ammonia-coal cofiring in existing coal power assets across Asia.
Potential sources of blue and green ammonia are from the United Arab Emirates, Oman, Saudi
Arabia, Australia, New Zealand, Chile, Canada, the United States and Russia. Japan, in particular, has
potential to promote investment by Japanese companies to develop the value chain and provide
financing for projects and reduce costs with long-term supply security.
Q&A for all presenters and discussion
Q: (to Mr. Muraki) Are there any recommendations for other APEC economies that are considering
hydorgen in their decarbonization plans? Should they prioritize some sectors as parts of the value
chain?
A (Mr. Muraki): Japan and Korea announced hydrogen strategies. Some APEC economies are looking
at hydrogen as a clean energy option. However, renewable energy resources are not well located in
the APEC region, which would require imports of clean carbon hydrogen in the regions with greenhydrogen resources or with natural gas and CCS capacities. That is also another incentive for thedevelopment of hydrogen energy carriers. Korea is looking into ammonia as a hydrogen energy carriers,
and Singapore is looking into ammonia as bunker fuel. Economies should consider how to practicallydevelop the hydrogen economy using hydrogen energy carriers.
Q: (to Mr. Muraki) Could you briefly explain some of the safety issues surrounding ammonia’s use as
an energy carrier, perhaps in transport or power generation applications?
A (Mr. Muraki): Safety standards are established in chemical and power industries and practically
executed. We will review those safety standards for wider applications, but safety will not be a hurdle
for the use of fuel ammonia.
Hydrogen and ammonia will complement each other. Ammonia is the cheapest way to introducehydrogen into the energy market. Ammonia can create a sizeable market for hydrogen energy carriers
and that can enhance the cost reductions of hydrogen production from both natural gas andrenewables. Ammonia will open the door for the hydrogen economy, and then ammonia and othertypes of hydrogen will come into the market depending on the requirements.
4-4. Energy Saving
4-4-1. Energy Efficiency of Buildings
Mr. Tadafumi Nishimura, Senior Engineer, Technology Innovation Center, ZEB Energy Management
Group, Daikin Corp, Japan
Mr. Nishimura presented two pilot projects of DAIKIN, an air-conditioner manufacturer, that test their5commercially available products and technologies on zero-emission building (ZEB) office buildings.:
One ZEB tests a newly-built, large-size Technology and Innovation Center (TIC) and the other a smallsize retrofit system. In both cases, most systems (HVAC, lighting) were commercially available
products. DAIKIN introduced individual control systems for both temperature and humidity, rather
than the conventional combined system. The individual control system allows for better efficiency,
especially in lower load ranges. In the retrofit building project, natural ventilation, outer air cooling,and sensor-controlled LED lighting system are used in addition to the individual temperature andhumidity control systems. The most impactful retrofit variable is the choice of air conditioning capacity,which if accurate, avoids frequent fluctuations in operational activity during lower load times, whenefficiency tends to be less. This retrofit project improved efficiency by replacing a 191hp capacity
system with a much smaller 123hp system.
Mr. Nishimura stresses the importance of optimizing the operation by continuously monitoring air
conditioning loads and comparing these measurements to the design simulations, both with andwithout the technological improvements.. This continuous optimization of the system adds extra
energy savings that will improve make ZEB Ready building to Nearly ZEB.
4-4-2. Demand Side Energy Management
Mr. Steven Schiller, Lawrence Berkeley National Laboratory (LBNL), USA
Mr. Schiller summarized the importance of demand-side energy efficiency as a cost-effective means of
reducing consumers’ energy cost burden (particularly for the disadvantaged and low-income
households and businesses), improving energy system reliability and resilience, supporting economic
development, and addressing energy security. However, the focus of his presentation was on theimportance of “Demand Flexibility” for supporting the cost-effective decarbonization of the energy
sector by reducing the amount of capital investment required for new generation, transmission anddistribution capacity as well by accommodating the variable patterns of renewable sources. The latteris true because with demand-side management, building and industrial energy loads can follow thepatterns of variable generation via Demand Flexibility. Thus, to support decarbonization, simple savingenergy is not enough, energy has to be saved at the Right Time and Right Place. Efficient, demand
flexible buildings can use time and location sensitive distributed energy resources, with smart controls,for “Load Shedding,” “Load Shifting,” “Load Pattern Modulation,” and “Site Generation.” Suchbuildings are regarded as Grid-Interactive Efficiency Building (GEB) with benefits for the economy,
utilities, consumers, and society as a whole. Mr. Schiller concluded his presentation with suggestions
for actions APEC Economies can take to advance efficiency and demand flexibility in gathering
information and identifying opportunities, taking early actions, and establishing demand management
programs for buildings and industrial facilities.
Q&A for all presenters and discussion(Moderator) Any advice for APEC economies on energy efficiency toward carbon neutrality?
(Mr. Nishimura) An actual measurement of building performance is very important.
(Mr. Schiller) Energy stakeholders should genuinely commit to using demand-side management as an
essential resource in the long run in order to support market transformation and technology diffusion.

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(Moderator) What about the additional cost of ZEB or the cost of energy efficiency improvement?
(Mr. Nishimura) The upfront cost of a retrofit is one of the barriers. Understanding the total cost, theupfront investment, and the energy saving thereafter is the key.
(Moderator) Give us a keyword for the challenge on the uncertainty of energy efficiency.
(Mr. Nishimura) Cost Efficiency(Mr. Schiller) Managing risks and uncertainty – efficiency and demand flexibility are high potential, lowrisk means for addressing the risks, and known impacts, of climate change to APEC economies.
4-5. Renewables Energy in the power sector.
This session focused on the role that renewable energy, specifically wind, solar and geothermal,
could play in future APEC energy systems.
4-5-1. Wind Power in the APEC region (including offshore): Experience of Chinese Taipei
Mr. Ssu-yuan Hu, Manager of Wind Power Program, Green Energy & Environment ResearchLaboratories (GEL), Industrial Technology Research Institute, Chinese Taipei
The potential for future offshore resources in APEC is significant and is expected to grow particularly
in China, the United States, Chinese Taipei, the Republic of Korea, Japan and Viet Nam. In Chinese
Taipei, the potential for onshore wind is limited and new capacity due to resource and land-use
constraints. Offshore wind offers the area for further wind development. Chinese Taipei’sdevelopment plan has three phases (demonstration, economies of scale, and pipeline for sustainable
domestic market). The first phase is underway with the demonstration-scale offshore wind farms
and international engagement. The second phase is focused on developing the planning process andinfrastructure for large-scale deployment, including site identification for offshore wind turbines aswell as manufacturing and interconnection facilities. The final phase is the upscaling of offshore windinfrastructure. The upscaling will be coupled with environmental monitoring and engagement withstakeholders, such as fisheries groups, to ensure that the expansion is sustainable. Between 2026
and 2035, the development plan sees 1.5 GW of offshore wind capacity added per year.
4-5-2. Solar Power in the APEC region
Ms. Charuwan Phipatana-phuttapanta, Senior Professional Scientist, Solar Energy Development
Division, Department of Alternative Energy Development and Efficiency (DEDE) Ministry of Energy,
Thailand
Ms. Phipatana-phuttapanta outlined Thailand’s policies supporting the development of solar energy.
Thailand is publishing various roadmaps targeting renewable energy. The current target is a 30% shareof final energy consumption by 2037. Each iteration of the renewable energy master plan publishedby the government of Thailand has significantly enhanced the share of solar. The original target was
500 MW by 2022, the current goal is 12,139 MW of solar by 2037. Currently, almost 3 GW of solar is7connected to the grid, and the share of renewable energy in final energy is 16.4%. Solar is supported
through a feed-in tariff with different rates for different sectors, such as household, educational
institutions and agricultural systems used for pumping water. There is also investment support, with
tax incentives, from the Thailand Board of Investment and policy support for growing self-consumption.
The presentation concluded by highlighting Thailand’s activities that supported carbon neutrality.
These acts include increasing the share of RE and the use of electric vehicles. Other policies include
zero waste landfills and smart farming initiatives, as well as the use of carbon capture and storage andhydrogen technologies.
4-5-3. Geothermal Power in the APEC region
Mr. Harris, Director of Geothermal, Directorate General of New, Renewable Energy and Energy
Conservation (DGNREEC), Ministry of Energy and Mineral Resources (MEMR), Indonesia
Mr Harris highlighted Indonesia’s international commitments to reducing emissions intensity andplans for net-zero emissions in 2060 and their NDC’s, underscoring the need to supply accessible,
affordable energy and the desire to enhance clean technology such as renewable energy. One suchtechnology is geothermal power. Indonesia has significant geothermal resources of up to 23 GW.
However, there is only 2.2 GW currently installed. Other economies with substantial potential include
the US, the Philippines, New Zealand and Mexico. However, there are some challenges to geothermal
development, including financial risks, environmental issues accessing resources in protected areas,social issues affecting communities around plants. Indonesia is targeting expanding geothermal
capacity significantly in the coming years targeting 9.3 GW of capacity by 2035. Government policy
supports this through supporting data gathering drilling programs, funding support, joint development,
supporting resource optimisation expanding existing plants.
4-6. Issues for Electricity Security: To Cope with Increasing Intermittent Renewables Power Sources
Increasing the share of wind and solar energy sources in the power grid is a key method for
decarbonizing an economy’s power sector.

Unfortunately, wind turbines and photovoltaic panels

provide variable and intermittent power depending on weather conditions. This session of the
Symposium focused on addressing the challenges associated with ensuring electrical grid stability
while increasing the share of variable and intermittent renewable energy sources in an economy’s
power sector.
4-6-1. Grid Infrastructure in Indonesia
Mr. Wanhar, Director for Electricity Technical and Environment, Directorate General of Electricity,
Ministry of Energy and Mineral Resources of Indonesia, Indonesia
The Indonesian government regulates electricity supply, while state-owned enterprises and private

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companies produce electrical power. PLN as a state-owned enterprise is given first priority in electricity
supply. Electricity policy has five goals: Sufficiency, Reliability, Sustainability, Affordability, and Equality.
Indonesia has various goals across its electricity supply chain. Generation is targeting 23% new andrenewable energy (NRE) by 2025; it also plans to target the utilization of more domestic primary energy
sources and in the longer term, implement both clean-coal and nuclear technology. Expansions ofelectricity access and the deployment of a smart grid are to start in 2020.
As per June, 2021 the domestic power installed capacity around 73,4 GW, electrification ratio around
99.3% and interm of energy mix of PLN’s power generation, which consists of Coal 63.5%; Gas 18.7%;
Geothermal 5.6%; Hydro 7.6%; other RE 0.4%; and Fuel Oil (including biofuel) 4.2%.

The Government of Indonesia is committing to reduce Greenhouse Gas (GHG) emissions by 29% from
Business as Usual (BaU), or by 41% with international assistance, by 2030.
There are many long-term challenges facing the Indonesian electrical utility sector as it embarks
on an energy transition to implement its roadmap to achieving NZE by 2060, while electricity
demand grows 5-fold, or 1400 TWh, over current levels by 2050. These include:• high penetration and Integration of Variable RE,• grid modernization through smart grid implementation and distributed energy resource
implementation,• market development & investment in RE, grid modernization, and electric mobility
transformation through electric vehicle• subsidy reallocation (fossil fuel subsidy shifting).

Indonesia is considering two scenarios to achieve Net Zero. Scenario 1: retire coal-fired and gas power
plant according to the current life/contract:

No additional coal-fired power plants, with additional

capacity after 2030 only coming from hydrogen, the use of BESS (battery energy storage system), andVRE. RE-based power plants starting in 2035 are dominated by VRE in the form of Solar, followed byWind and Tidal. Nuclear energy starts producing by 2045, and increasing to 35 GW in 2060.
Geothermal utilization is maximized up to 75% of resources.
Scenario 2: same as Scenario 1, with the following differences: CCS/CCUS technology decarbonizes
coal and gas power plants (after 2040) and IGCC development. CCS-equipped IGCC starts in 2050,
which will decrease nuclear’s share.

9Transmission and interconnection development:• Develop inter islands connections like Sumatera Java, Bali Lombok.
• Support the ASEAN Power Grid cooperation.
• Grid operation: Amendment of Grid Code to cover intermittent RE development.
• Smart Grid concept for Indonesia to cover Prosumer (consumer generate own electricity) andSmarter Consumer (use electricity more efficient with more smart devices). Now developing
Smart Grid in Java Bali, with enhance Metering infrastructure.
• Indonesia has 9 small-scale and control center smart grid pilot projects.
• Indonesia supports the EV development by regulating the development of charging stations
and battery exchange stations (now have 166 charging stations). By 2030, 254 181 electric carsand 24 720 charging stations, 805 000 electric motorized vehicles and 67 000 battery swab
stations.
4-6-2. Power Storage
Dr. Douglas J. Arent, Executive Director, Strategic Public Private Partnerships, National Renewable
Energy Laboratory (NREL), USA
NREL is located in Colorado and focuses on renewable energy (RE) and Energy Efficiency.
NREL has almost 900 partnerships with industry, academia and government, a $500 million annual
budget and $1.2 billion in domestic economic impacts. NREL’s capabilities in energy storage include
research, modelling, deployment models, grid integration, system design and research facilities.
Research encompasses decision support, impact analysis, application, storage system design andoptimization, and component analysis.

NREL identifies benefits of system flexibility: employing a

combination of technologies (RE, storage, grid) to respond to change demand and supply.
There are four phases of storage deployment (sequential or overlap and uncertainty): operating
reserves, peaking capacity, diurnal capacity, and energy time shifting, multiday to seasonal capacityand energy time shifting. Storage can provide: not only energy, but also capacity, stability, ancillary
services.
Cost trends in lithium-ion battery (LIB) packs show decreasing battery costs. LIB costs declined
89% from 2010 to 2020 and are expected to decline an additional 33% by 2024 according to Bloomberg
New Energy Finance. NREL’s storage futures study concludes that dramatic growth in grid energy

10storage is the least cost option for ensuring grid stability and reliability under all scenarios.
4-6-3. Electricity Security in regards to Clean Energy Transitions
Ms. Randi Kristiansen, Economics and Financial Analyst, Clean Electricity, Renewable Integration and
Security of Electricity Unit, International Energy Agency (IEA)
The power sector landscape is changing dramatically away from traditional power sector systems.
The traditional power system is centralized, exhibits high stability, is centrally controlled with one way
flows of communication. It is a closed network with few devices. The new power system that is
emerging will be more decentralized and include more variable generation. Inertia may decrease,
there will in most cases be multiple actors/competitive markets, two-way power and communication
flows and many devices. It will be designed to adjust to the effects of changing climate patterns on
power demand.
In the new system, economies will see a significant retirement of fossil fuel dispatchable plants inelectricity system mix, while carbon dispatchable sources like nuclear and hydro lag behind. RE
penetration will increase the requirements for flexibility in the system. Thermal (gas/coal) power
plants will continue for some time especially in the APEC region to provide the bulk of flexibility needs,
along with interconnection, but the use of batteries and demand side response will increase.
Reliability measuring will require new methods, stochastic methods provide a much more detailed
picture, and supply and the contribution of different types of resources to adequacy under different
scenarios.
The new power grid will be increasingly digital with interconnected networks and smart grids.
The new power systems will provide many benefits for electricity customers and the clean energy
transitions: improved generation and transmission efficiency, enhanced grid stability, improved
demand response and forecasting.
However, digitalization comes with cybersecurity risks. Some events have already occurred, andthe threat of cyberattack is growing. Policymakers need to enhance cyber resilience: strengthen
institutions (set appropriate responsibilities), identify risks, manage, and mitigate risk, monitor
progress, enhance respond and recover mechanism. Implementation strategies should be tailored to
mandatory regulation approaches (specific standards) and framework-based (common criteria).
In conclusion, the approach to electricity security will change with the clean energy transitions.
Diversification of technology and location are critical enablers. New aspects will arise due to the more
decentralized systems, but secure clean energy transitions are achievable in the APEC region, butcontext specific policies must be implemented, and collaboration between power systems can enablefurther cost effectiveness.
4-7. Keynote Speech: The role of Carbon Capture Coupled to Dedicated and Reliable Storage in

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Helping to Meet Net-Zero Carbon Emissions Goals (by video)
Dr. Jennifer Wilcox, Acting Assistant Secretary for Fossil Energy, Department of Energy (DOE), USA
As “climate change” has become a “climate crisis”, cutting emission by 50% by 2030, producing 100%
clean electricity by 2035, and achieving a net-zero carbon economy by 2050 are becoming more urgent
in the United States. Technology approaches like CCS, carbon dioxide removal (CDR) will play anenormously important role over the next decade. Every sector requires attention: energy,
manufacturing, transportation, the entire economy. Given that fossil fuels continue to play a key rolein the Unites States and around the world, their decarbonization is critical. CCS provides us with theopportunity to use fossil assets responsively. The United States would like to expand the potential of
CCS to include carbon capture not just from the power sector but also industrial sectors like cement
and steel production. There is also significant potential that carbon capture can have for advancing
a low cost and low carbon hydrogen economy through decarbonization of fossil-based hydrogenproduction. Coupled to carbon capture, dedicated and reliable CO2 storage is critical to meetingclimate goals. As carbon removal directly from the atmosphere is more costly than point-source carbon
capture, CDR should only be used to offset the truly hard-to-abate sectors like agriculture, shipping,
and aviation. Achieving a net-zero, clean energy economy requires collaboration across government,
industry, academia and across economies.
4-8. CCUS in the APEC region
4-8-1. CCUS in the APEC region: An expert view from Australia
Mr. Alex Zapantis, General Manager, Global CCS Institute, Australia
There are increasing numbers of operational CCS projects in APEC. Many future projects will not be
reliant on utilisation (such as enhanced oil recovery) to be economically viable. Almost all
climate/energy scenarios with decarbonisation ambitions will require CCS.
One quarter of industry emissions are attributed to unavoidable chemical reactions (process
emissions), emphasising large role for CCS to decarbonise industry. Global facility age for steel andchemical facilities is young, particularly in Asia. Widespread retrofits of these facilities will be required
to meet Paris, and other climate, commitments.
There are heroic assumptions for rapid movement away from thermal coal fired power plants. Even
with optimistic assumptions of lower utilisation and early retirements, significant proportion of theseunits will remain operational for multiple decades and require CCS for climate ambitions to be met.
Current hydrogen production is almost solely grey hydrogen (fossil fuel derived with no CCS).
Electrolysis powered by renewable energy (green hydrogen) and Hydrogen produced from fossil fuels12with CCS (blue hydrogen) will need to scale up 500 times between now and 2050 to meet global
demand with (close to) no emissions.
Blue hydrogen has significant advantages in most locations compared to green hydrogen right now(cost advantage, space saving, and lower burden on electricity grids). There are many opportunities
for CCS hubs in APEC, exploiting viable geography and fostering economic growth, development, andjobs.
4-8-2. CCUS in the APEC region: An expert view from Indonesia
Dr Mohammad Rachmat Sule, Associate Professor, Institut Teknologi Bandung, Indonesia
Indonesia has large potential to develop CCS to enhance productivity of current oil and gas wells, while
complementing expanding fleet of coal-fired power plants. The Indonesian government sees large role
for CCUS to assist local and global decarbonisation efforts.
The Gundih CCS pilot project has demonstrated the economic case for EGR (Enhanced Gas Recovery)
technologies, though shortest payback periods and greatest profitability are reliant on carbon credits.
CCS in Indonesia will improve environment, lead to additional revenue flows (EOR and EGR), andprovides possibility to sell carbon credits. There is large potential to establish regional CO2 hubs/sinks,
that Indonesia can leverage for economic growth potential.
Q&A for presenters and discussion
Q: The recent IEA Net Zero publication does not rely on a large role for CCS. Do you see this as reflectiveof the reality for CCS?
A (Mr Zapantis): There is still large potential for CCS even in scenarios that rely more heavily on otherdecarbonisation methods.
Q: Has the Gundih CCS project been successful at promoting CCS projects in Indonesia?
A (Dr Sule): Projects such as Gundih will benefit from international capital flows and provide continued
justification for Indonesia’s coal fired power fleet.
Q: What challenges are there to monitoring captured emissions? And are earthquakes a concern forstorage of emissions?
A (Mr Zapantis): Instituting a reputable global body to track captured emissions will be more of amanagement challenge than technical challenge. Monitoring captured carbon dioxide is alreadyundertaken to high precision. Captured CO2 is robust to frequent earthquakes and seismic activity as
demonstrated by the Tomakomai project in Japan. CO2 located deep in the earth’s crust is a liquid and13not prone to escape.
Q: Is the challenging operational environment for Boundary Dam and Petra Nova indicative of theviability of CCS technologies?
A (Mr Zapantis): Boundary Dam and Petra Nova both encountered large challenges to their success,but this is not indicative of future projects. CCS is no different to any other large industrial technology,
some facilities will experience operational or commercial difficulties from time to time.
4-9. Nuclear Energy in the APEC region
4-9-1. Nuclear Energy in the APEC region: An expert view from Korea
Dr. Chae Young Lim, Research Director, Korea Atomic Energy Research Institute (KAERI), Korea
Korea has ambitious GHG emission reduction targets. The government has published energy
transition policy. In October 2020, the president Moon Jae-in pledged 2050 carbon neutrality.
According to their plan, Korea will increase renewable energy to 57-71% of total power generation by
2050, while reducing nuclear energy to 6-7%. The use of nuclear power plants will continue until the
lifetime of units end, but no lifetime extension is planned.
However, Korea is also researching SMR development and its potential as a transitional technology
for decarbonization and emerging option to contribute to carbon neutrality. Its rapid ramp-up ability
can harmonized with renewable energy and serve as a replacement for aging coal fired power plants.
A survey of projections illustrate a global SMR market between 65-85GW by 2035. There are over 70
concepts of SMR under development across the world, including in Korea. They are developing SMART
reactor and innovative SMR (iSMR) technologies. The projected construction cost of iSMR is less than
4,000 USD per kW. Several Korean industries, including marine transport, are interested in iSMR.
Develops can improve competitiveness by communicating with regulators and tailoring a new businessmodel to reduce the risk to investors. At the same time, government support and scaling up the supply
chain are also important.
4-9-2. Nuclear Energy in the APEC region: An expert view from Southeast Asia

Dr. Philip Andrews-Speed, Senior Principal Fellow, The Energy Studies Institute, National University ofSingapore, Singapore
In ASEAN, 5 economies have research reactors and one of these has an experimental advanced
reactor, but others have no active involvement in nuclear energy. These 5 economies are cooperatingwith IAEA or developed economies and are assessing the option to deploy SMRs and other advanced
reactors. At the ASEAN level there are networks to share information on regulation and technology.
The US, Canada, Japan and China are cooperating with ASEAN Centre for Energy (ACE) mainly in

14

capacity building. The ASEAN Plan of Action for 2021-2025 give its priority to capacity building andpublic communication. But as for power deployment, the 5th Outlook of ACE says nuclear will have
0.2-0.5% share of total primary energy production by 2040, but in the recent 6th Outlook, there is no
mention for nuclear energy. Therefore, the speaker thinks that nuclear energy will not become a majorenergy source by 2040.
Q&A for all presenters and discussion
Q: (to Dr. Lim) Will Korean government allow to construct SMRs despite its nuclear policy?
A: It is not sure. But the presidential election will be held next year, and so the policy of the next
government will be important.
Q: (to both speakers) SMR is small-scaled, and so it cannot have the economics of scale. Will it bepossible to gain economic competitiveness?
A (Dr. Lim): I think it is possible in the future. Certainly, it sacrifices economics of scale, but it has otheradvantages to the conventional reactors. Technology innovation would change the situation.
A (Dr. Andrews-Speed): The key is to manufacture large quantities. But the question is who would
construct the first reactor? This is a “chicken and egg” problem.
C (Dr. Lim): We have a positive signal from the market. For example, many customers show theirinterest in NuScale project. They are seeing SMR as a promising business.
Q: (to both speakers) SMR is not a new technology, but it has been developed since 1980s. Why do
you think SMR has not been commercialized so far?
A (Dr. Lim): At that time, nuclear vendors didn’t need SMRs, but the situation is changed. Now small
power plants are easier to build than conventional large reactors.
A (Dr. Andrews-Speed): Currently, EPR in Europe is experiencing cost overruns, and both governments
and people have come to think nuclear energy is expensive. This has made financing difficult. Now weare on a new path.
Q: (to Dr. Andrews-Speed) What is the role of the international networks in ASEAN?
A: They are exchanging information and ideas. I don’t think these networks are currently having amajor impact, but such effort is important.
4-10. Transition Finance including finance for LNG as a transitional fossil fuel and back-up forintermittent renewables
4-10-1. Transition Finance including finance for LNG as a transitional fossil fuel and back-up forintermittent renewables: A view of a private financial institution
Mr. Masayuki Fujiki, Solution Products Division, MUFG Bank, Ltd., Japan15

Mr. Fujiki introduced MUFG Bank’s business activities regarding project finance and its global presencein the project finance field. Sustainable debt including green bond, social bond etc. has been increasingin the recent years. Various guidelines for transition finance have been developed in the past few years.
MUFG Bank participated in some of these activities. In IEA’s Net Zero Emissions scenario, natural gas
is projected to be a dominant source of power supply until 2030. Power generated by unabated natural
gas and global supply of natural gas will decrease after 2030. To support transition finance in Asia, as
LNG is a fossil fuel, a framework that has global consensus is needed. Also, each economy should
establish a clear roadmap or strategy to achieve carbon neutrality. Transition projects should beincorporated into these roadmaps and strategies. Although there are a variety of risks in LNG related
finance, these risks can be mitigated by various methodologies.
4-10-2. Transition Finance including finance for LNG as a transitional fossil fuel and back-up forintermittent renewables: A view of a government financial institution (by video)
Ms. Kazuko Sakuma, Director General, Oil and Gas Finance Department, Energy and Natural Resources
Finance Group, Japan Bank for International Cooperation (JBIC), Japan
This June, JBIC announced its medium-term business plan; a key focus area was to “Address global
issues toward realizing sustainable development for the global economy and society”.
JBIC has also announced several action plans that respond to the need for energy transformation
towards the realization of a decarbonized society. These action plans cover areas including “Green
Finance” and “Transition Finance” to support developing economies progress towards a decarbonizedsociety. This separation acknowledges that economies must balance the stable supply of energy andachieve sustainable economic growth, but it will also be necessary to take a realistic and phased
approach in energy transition by considering each economy’s current energy mix and renewableenergy potential. It will require mobilizing a variety of methods, each having regard to individual
circumstances and affordability. Not only renewables but gas-fired thermal power generation, which
has a low CO2 emission on relative terms, would be indispensable for a more realistic energy transition.
In this context, LNG is an indispensable energy resource during the transition period toward
decarbonization in the future. Fuels like ammonia and hydrogen are also expected to be utilized formixed combustion. Challenge is to build up the overall supply chain to make the cost more affordable.
Ms. Sakuma emphasized the importance of not taking a unified approach but to consider thecircumstances and features of the specific regions and to take a holistic approach to move towards
carbon neutrality. JBIC is willing to support such an approach with its Green Finance and Transition
Finance.
Q&A for all presenters and discussion
Q: (to Mr. Fujiki) Aside from LNG, how do you consider financing transition energy sources such as
biomass and cofired generation?

16

A: (Mr. Fujiki) It is very difficult to define what transition finance is. Some may mention financing
cofired generation is transition finance while others may insist that it is just extending the lifetime ofan old-style generation. At this moment it is challenging to finance greenfield coal-fired power
generation.
Q: (to Mr. Fujiki) How is carbon capture (CCUS) viewed from a financing and risk perspective?
A: (Mr. Fujiki) Financing carbon capture (CCUS) could be considered as one of transition finance. In
order to do so, again, it should be clearly included into the roadmap or framework. The private sector
should carefully review a framework, roadmap, guideline, and strategy in each CCUS project in eacheconomy.
Q: (to Mr. Fujiki) How will guidelines for transition finance change the behaviors of financial
institutions?
A: (Mr. Fujiki) There are various guidelines in the world (e.g., the United States. EU, and developing
economies in Asia). Guidelines have huge impact on behaviors of financial institutions. It is challenging
to establish a proper guidelines as it should not be too vague or too detail.
Q: (to Mr. Fujiki) There are many risks regarding LNG project finance. What are the benefits ofparticipating in LNG project finance for private financial institutions in addition to returns frominvestments?
A: (Mr. Fujiki) Participating in these projects is to contribute financially. Also, regarding risks, there aremany parties and risks can be mitigated. Therefore, although the tenor is longer, the project finance ismore secure than corporate finance.
4-11. Panel Discussion: How to Pursue Carbon Neutrality while Strengthening Energy Security and
Resiliency in the Asia Pacific Region
4-11-1. Report from ABAC Sustainability Working GroupMr. Takashi Imamura, Executive Officer and General Manager of Research Institute, Marubeni
Corporation; ABAC Sustainability Working GroupIn ABAC’s view, for the APEC economies to achieve carbon neutrality, a major shift in energy policies
will be necessary. Trade and investment in renewable energy as well as low emission technologies areimportant to achieve both carbon neutrality and energy resilience. By sharing technologies, bestpractices, and successful businesses with each other, the whole APEC economies will benefit.
Regarding renewable energy, ABAC recommends developing an APEC framework for trade andinvestment in renewable energy to achieve carbon neutrality and energy resilience. ABAC also
recommends developing suitable policy for each economy while acknowledging the differencesamong economies. Mr. Imamura shared ideas on proposals for 2022. A realistic energy policy to17achieve carbon neutrality should be formulated. The policy should be promoting the transition tocarbon neutrality while incorporating energy resilience. It also should be practical and reflecting thediversity of APEC economies. In addition, it is important for APEC economies to cooperate with eachother in developing and utilizing the technology including CSS, hydrogen, ammonia and synthetic fuels
and related systems.
4-11-2. Report from ERIA on Decarbonization Scenarios for ASEAN
Dr. Han Phoumin, Senior Energy Economist, Energy Unit, Economic Research Institute for ASEAN andEast Asia (ERIA)
The energy demand in ASEAN economies is expected to continue to increase with the rapid economic
growth. Currently, fossil fuels make up almost 80% of the primary energy mix in the ASEAN region.
VRE resources are unevenly distributed across regions. For example, ASEAN economies have relatively
scarce wind resources and abundant solar PV resources. Regarding power generation costs (LOCE),
VRE costs except for solar PV will be still higher than coal in 2050. When the VRE share increases, twochallenges will arise. The first is that with a greater supply of electricity generated by solar PV andwind, wholesale electricity prices go below LCOEs and prevent further deployment of VRE facilities.
The second is that solar and wind power generation can be extremely limited depending on the day.
To solve this problem, energy storage capacity would be required. Regarding hydropower, it is also
unevenly distributed in ASEAN region. Therefore, international grid expansion can maximize theutilization of hydro resources. Currently, ERIA and IEEJ are developing a model. It calculates the least
cost power generation mix with different carbon prices for ASEAN region in 2050. Without carbon
prices, coal-fired and gas-fired power generations are dominant. However, as carbon prices go up,
low-carbon technologies become dominant. Modelling also shows that to achieve net zero by 2060,
various technologies including renewables, nuclear, CCS, and imported hydrogen and ammonia will
be necessary. In this case, renewables become main power resources. In order to achieve carbon
neutrality, it is essential to reduce the cost of decarbonization technologies.
4-11-3. Panel Discussion on Energy Security
Moderator, Dr. Ken Koyama (Senior Managing Director, Chief Economist, IEEJ) opened the panel
discussion by asking each panelist to comment on energy security with regards to carbon neutrality
ambitions. Dr. Han Phoumin (Senior Energy Economist, Energy Unit, ERIA) begun by saying that anyenergy transition without consideration for energy security presents large risks, especially for the
ASEAN region. He stressed that any energy transition should be well-designed in terms of energy
infrastructure, and that using coal or natural gas in a ‘clean’ manner would be key for the APEC region.
Mr. Takeshi Soda (Director, Oil and Natural Gas Division, ANRE, METI, Japan) mentioned 3E+S as thebasis of energy policy in Japan which places both energy security and environmental protection as corepillars, which is important for any move to a more carbon neutral society. Dr. Twarath Sutabutr

18

(Inspector-General, Ministry of Energy, Thailand) highlighted that carbon neutrality and energy
security is a trade-off, especially in an economy like Thailand. The trade-off involves: 1) domestic
development or imported supply of clean energy, 2) planning based on existing or emerging andunproven technologies, and 3) market transformation based on quick and disruptive or gradualtransition.
Dr. Ken Vincent (Director, Office of Asian Affairs, DOE, USA) commented that energy security
remains paramount to all of us and raised three new energy security issues: 1) resiliency benefits ofcross-border electricity flows as we introduce more variable renewable energy into the market, 2)
when electrifying the vehicle fleet gathers pace, the supply risk for transport and the power sector willintersect, and 3) market concentration in solar cells, batteries, and critical minerals is much more
severe than in the oil market.
When asked about the major risk for electricity security of supply, Dr. Vincent again emphasizedresiliency of the system. He elaborated about the need for appropriate system design that manages
extreme weather events, cyberattacks, and incorporates sufficient storage capability. Dr. Twarathemphasized the large growth in electricity demand (especially in the transportation sector), and theimportance of ensuring existing gas-fired power plants accommodate this growth while meetingcarbon neutrality ambitions. Grid interconnections between economies will be helpful in this context.
Mr. Soda highlighted LNG would be important as an adjustable backup power resource, that canminimize blackout risks thanks to flexible operation. Dr. Phoumin emphasized that any policies toincorporate renewables must be balanced with delivering energy at an affordable price, especially in
the ASEAN region.
To the second question―the role of natural gas/LNG as a transitional or backup energy source inthe context of a move to carbon neutrality?―Mr. Soda again pointed out the importance of LNG asan adjustable power source to balance renewable intermittency. He also stressed that natural gas
provides the raw materials for hydrogen and ammonia. Considering this importance, additional efforts
to reduce greenhouse gas emissions in the LNG supply chain are required.
Dr. Twarath mentioned that LNG and natural gas will be used as a transition fuel for the coming
three decades to anchor and stabilize renewables. He noted that continued investment in the natural
gas supply chain is required in the context of reducing emissions. Dr. Vincent expressed his gratitude
to hear others committed to reducing the carbon footprint of the entire LNG value chain. However, heflagged that focusing on any one energy source too much can cause problems. Dr. Phoumin stressed
the importance of infrastructure to support the energy transition; a stable market for natural gas isneeded to facilitate a transition that is reliant on natural gas.
Dr. Koyama wrapped up the session by highlighting that Japan, USA, and ASEAN economies havealready been successful at enhancing energy security, but that continued and enhanced efforts are
required, including increased international cooperation.

19

4-11-4. Panel Discussion on Energy Resiliency
Moderator, Mr. Hiroki Kudo (Board Member, IEEJ) opened the panel discussion, mentioning thecritical need to build energy systems that are resilient to ever-increasing natural and socioeconomic
threats (for example, cyber security) in the ASEAN region. Following the August 2020 endorsement of
the APEC Energy Resiliency Principles, which lays out voluntary norms and measures, APEC leadersdeclared their intentions to collaborate on energy resiliency. The Energy Resiliency Guidelines are
currently being formulated as a follow-up initiative.
In his initial comments, Mr. Takashi Imamura (Executive Officer and General Manager of ResearchInstitute, Marubeni Corporation; ABAC Sustainability Working Group) pointed out that while
renewables are an important solution for achieving carbon neutrality (CN), energy resiliency and CN
need to be balanced, and thus stressed the importance of “transition.” Mr. Hiroshi Hasegawa (Director,
Energy Supply and Demand Policy Office, Ministry of Economy, Trade and Industry (METI), Japan)
highlighted the different member economy circumstances across the APEC region. Japan is ready tocooperate with other APEC economies in pursuing diversified energy supply and demand structuresand enhancing energy resiliency in their respective contexts.
From the perspective of a developing economy, Mr. Alexander Lopez (Undersecretary, Departmentof Energy, the Philippines) flagged that climate change impacts continue to threaten energy
infrastructure, placing parts of the Philippines in a vicious cycle of energy poverty and significant
economic costs. Strategies geared toward CN can be further enhanced while addressing the sharedchallenges of energy resiliency. Mr. Dan Ton (Program Manager, Office of Electricity, Department ofEnergy, USA) explained that the Office of Electricity drives the modernization of the grid, ensuring asecure, resilient, reliable and flexible electricity system, with a focus on not only technologicalinnovation, but also institutional support and alignment with the market as a whole.
Asked what the risks were for energy resiliency of APEC economies in the process towards carbon
neutrality, Mr. Imamura identified the risk of undermining energy resiliency by compromising energy
supply diversification. Given the important role of fossil fuels in the energy resiliency of APEC
economies, the concept of energy transition should not be lost in the drive towards CN. Mr. Hasegawa
stressed the importance of the order in which policy initiatives are taken and welcomed discussions
on designing policy initiatives toward CN. Mr. Lopez pointed out that decarbonization efforts centeredon increasing renewables expose the power sector to risk of reduced reliability. He also flagged theneed for APEC to address the impact of climate change in the context of energy resiliency. Mr. Ton
highlighted the importance of addressing energy resiliency by accounting for linked infrastructures,
including energy, transport, communications, and water.
To the second question―what actions should APEC take to promote energy resiliency
enhancement in each APEC economy?―Mr. Imamura showcased the potential for cooperation on
multiple initiatives (such as those for storage technologies) that contribute to enhancing energy
resiliency in accordance with regional circumstances. Mr. Hasegawa emphasized the importance ofcooperation among stakeholders and private sector initiatives outside APEC, as well as sharing

20

experiences among economies and stakeholders, as important actions to be taken. Mr. Lopez
recommended developing sustainable financing and insurance mechanisms to address evolving supply
and demand needs, conducting impact and vulnerability assessments of old and new energy systems
and infrastructure, and sharing knowledge and experience. Mr. Ton stressed that given the diversity
across APEC economies, information-sharing on key activities that support energy resiliency would bevaluable, citing the benefits of microgrids in the U.S.
Mr. Kudo wrapped up the session by reiterating the importance of stakeholder cooperation amongst
multiple levels of government, energy suppliers, consumers, and the financial sector. This cooperation
will lead to a better understanding of any risks, and enhance energy resiliency action across different
time frames. He encouraged stakeholders to harness the upcoming APEC Energy Resiliency Guidelines,
maintaining a good balance between energy resiliency enhancement and climate change impact
reduction.
4-12. Closing Remarks
Dr. Kazutomo Irie, President, Asia Pacific Energy Research Centre (APERC)

Dr. Irie stated that the two-day symposium was informative and encouraging for institutions,companies, and economies that are pursuing decarbonization goals, including highly ambitious carbon
neutrality goals. He was very appreciative of all those who attended and thanked those individuals
who took the time to make presentations and discuss issues in panel sessions. Dr. Irie concluded thesymposium by reiterating APERC’s commitment to facilitating cooperation amongst APEC member
economies on energy issues, including decarbonization and carbon neutrality.

5. Symposium Analysis
Including speakers and organizers, more than 180 individuals registered to participate in the symposium.
27 attendees completed the evaluation survey.

21

Figure 1. Summary of APEC Project Evaluation Survey
According to the survey results shown in Figure 1, most respondents thought that the objectives wereclearly defined and had been achieved. Most respondents also thought that the agenda items and topics
covered were relevant and that the content was well organized and easy to follow. Some survey
respondents believed that more time was needed for questions and answers. In general, the survey
results support the notion that it achieved the intended objectives.

226. Appendix 1: Agenda
Monday, August 30(JST)
MC: Ms. Reiko Chiyoya, Researcher, Asia Pacific Energy Research Centre(APERC)
08:30-09:00

Registration
1-1. Opening Session

09:00-09:05

1-1-1. Opening Remarks-

09:05-09:15

Dr. Kazutomo Irie, President, Asia Pacific Energy Research Centre(APERC)

1-1-2. Keynote Speech: Necessity of the Holistic Approach of Decarbonization
towards Carbon Neutrality in the APEC Region
Mr. Shinichi Kihara, Deputy Commissioner for International Affairs,
Agency for Natural Resources and Energy (ANRE), Ministry of Economy,
Trade and Industry (METI), Japan

09:15-09:30

1-2. Potential of Decarbonization towards Carbon Neutrality in the APEC Region-

Mr. Takahiko Tagami, Senior Coordinator, The Institute of Energy
Economics, Japan (IEEJ)

1-3. Hydrogen and Ammonia including infrastructure issues
09:30-09:45

1-3-1. Clean Hydrogen (by Video)-

09:45-10:00

Dr. Sunita Satyapal, Director of Hydrogen and Fuel Cell
Technologies Office, the Office of Energy Efficiency and Renewable
Energy (EERE), Department of Energy, USA

1-3-2. Ammonia-

10:00-10:10

Moderator: Dr. David Wogan, Assistant Vice President, APERC

Mr. Shigeru Muraki, Representative Director, Clean Fuel Ammonia
Association, Japan

Q&A for all presenters and discussion
1-4. Energy Saving-

10:10-10:25

Moderator: Dr. Naoko Doi, Senior Economist, IEEJ

1-4-1. Energy Efficiency of Buildings-

Mr. Tadafumi Nishimura, Senior Engineer, Technology Innovation

23

Center, ZEB Energy Management Group, Daikin Corp, Japan
10:25-10:40

1-4-2. Demand Side Energy Management-

10:40-10:50

Mr. Steve Schiller, Visiting Scientist/Senior Advisor, Electricity
Markets and Policy (EMP) Department, Lawrence Berkeley National
Laboratory, USA

Q&A for all presenters and discussion
1-5. Renewable Energy Power-

10:50-11:05

1-5-1. Wind Power in the APEC region (including offshore): Experience of Chinese
Taipei-

11:05-11:20

Moderator: Mr. Hugh Marshall-Tate, Researcher, APERC

Mr. Ssu-yuan Hu, Manager of Wind Power Program, Green Energy& Environment Research Laboratories (GEL), Industrial Technology
Research Institute, Chinese Taipei

1-5-2. Solar Power in the APEC region-

Ms.

Charuwan

Phipatana-phuttapanta,

SeniorProfessional

Scientist, Solar Energy Development Division, Department of
Alternative Energy Development and Efficiency (DEDE) Ministry ofEnergy, Thailand
11:20-11:35

1-5-3.Geothermal Power in the APEC region-

11:35-11:50

Mr. Harris, Director of Geothermal, Directorate General of New,
Renewable Energy and Energy Conservation (DGNREEC), Ministryof Energy and Mineral Resources (MEMR), Indonesia

Q&A for all presenters and discussion
1-6. Issues for Electricity Security: To Cope with Increasing Intermittent
Renewables Power Sources-

11:50-12:05

1-6-1.Grid Infrastructure in Indonesia-

12:05-12:20

Moderator: Mr. Glen Sweetnam, Senior Vice President, APERC

Mr. Wanhar, Director for Electricity Technical and Environment,
Directorate General of Electricity, Ministry of Energy and Mineral
Resources of Indonesia, Indonesia

1-6-2. Power Storage-

Dr. Douglas J. Arent, Executive Director, Strategic Public Private

24

Partnerships, National Renewable Energy Laboratory, USA
12:20-12:35

1-6-3. Electricity Security in regards to Clean Energy Transitions-

12:35-12:45(JST)

Ms. Randi Kristiansen, Economics and Financial Analyst, Clean
Electricity Renewable Integration and Security of Electricity Unit,
International Energy Agency (IEA)

Q&A for all presenters and discussion

Tuesday, August 31
MC: Ms. Reiko Chiyoya, Researcher, APERC

08:30-09:00

Registration

09:00-09:10

2-1. Keynote Speech: Keynote Speech: The role of Carbon Capture Coupled to
Dedicated and Reliable Storage in Helping to Meet Net-Zero Carbon Emissions Goals(by video)-

Dr. Jennifer Wilcox, Acting Assistant Secretary for Fossil Energy,
Department of Energy (DOE), USA

2-2. CCUS in the APEC region
09:10-09:25

2-2-1. CCUS in the APEC region: An expert view from Australia-

09:25-09:40

Mr. Alex Zapantis, General Manager - Commercial, Global CCS
Institute (GCCSI), Australia

2-2-2. CCUS in the APEC region: An expert view from Indonesia-

09:40-09:50

Moderator: Mr. Mathew Horne, Researcher, APERC

Dr. Mohammad Rachmat Sule, Associate Professor in Faculty of
Mining and Petroleum Engineering, Department of GeophysicalEngineering, Institut Teknologi Bandung, Indonesia

Q&A for all presenters and discussion
2-3. Nuclear Energy in the APEC region-

09:50-10:05

2-3-1 Nuclear Energy in the APEC region: An exper view from Korea-

10:05-10:20

Moderator: Ms. Tomoko Murakami, Senior Economist, IEEJ

Dr. Chae Young Lim, Research Director, Korea Atomic Energy
Research Institute (KAERI), Korea

2-3-2. Nuclear Energy in the APEC region: An expert view from Southeast Asia25

-

10:20-10:30

Dr. Philip Andrews-Speed, Senior Principal Fellow, The Energy
Studies Institute, National University of Singapore, Singapore

Q&A for all presenters and discussion
2-4. Transition Finance including finance for LNG as a transitional fossil fueland back-up for intermittent renewables-

10:30-10:45

2-4-1. Transition Finance including finance for LNG as a transitional fossil fuel andback-up for intermittent renewables: A view of a private financial institution-

10:45-11:00

Mr. Masayuki Fujiki, Solution Products Division, MUFG Bank, Ltd.

2-4-2. Transition Finance including finance for LNG as a transitional fossil fuel andback-up for intermittent renewables: A view of a government financial institution (byvideo)-

11:00-11:10

Moderator: Ms. Reiko Chiyoya, Researcher, APERC

Ms. Kazuko Sakuma, Director General, Oil and Gas Finance
Department, Energy and Natural Resources Finance Group, Japan
Bank for International Cooperation (JBIC), Japan

Q&A for all presenters and discussion
2-5. Panel Discussion: How to Pursue Carbon Neutrality while Strengthening
Energy Security and Resiliency in the Asia Pacific Region-

11:10-11:20

2-5-1. Report from ABAC Sustainability Working Group-

11:20-11:30

Mr. Takashi Imamura, Executive Officer and General Manager ofResearch Institute, Marubeni Corporation; ABAC Sustainability
Working Group

2-5-2. Report from ERIA on Decarbonization Scenarioos for ASEAN-

11:30-12:00

Moderator: Ms. Reiko Chiyoya, Researcher, APERC

Dr. Han Phoumin, Senior Energy Economist, Energy Unit, Economic
Research Institute for ASEAN and East Asia (ERIA)

2-5-3. Panel Discussion on Energy Security-

Moderator: Dr. Ken Koyama, Senior Managing Director, Chief
Economist, IEEJ
Dr. Han Phoumin, Senior Energy Economist, Energy Unit, ERIA
Mr. Takeshi Soda, Director, Oil and Natural Gas Division, ANRE,
METI, Japan
Dr. Twarath Sutabutr, Inspector-General, Ministry of Energy,26

12:00-12:30

2-5-4. Panel Discussion on Energy Resiliency-

12:30-12:40
12:40-12:45

ThailandDr. Ken Vincent, Director, Office of Asian Affairs, DOE, USA

Moderator: Mr. Hiroki Kudo, Board Member, Director, IEEJ
Mr. Takashi Imamura, Executive Officer and General Manager ofResearch Institute, Marubeni Corporation; ABAC Sustainability
Working GroupMr. Hiroshi Hasegawa, Director, Energy Supply and Demand
Policy Office, ANRE, METI, Japan
Mr. Alexander Lopez, Undersecretary, Department of Energy, The
Philippines
Mr. Dan Ton, Program Manager, Office of Electricity, DOE, USA

Q&A for all presenters and discussion
2-6. Closing Remarks-

Dr. Kazutomo Irie, President, APERC

27

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             Potential of Decarbonization
towards Carbon Neutrality
in the APEC Region
August 2021
Takahiko Tagami
Senior Coordinator
The Institute of Energy Economics, JapanIEEJ © Aug. 2021

The IEEJ Outlook andCO2 emission reduction potential

CO2 emission reduction potential(by technical field) The IEEJ Outlook, which results are utilized to estimate CO2
emission reduction potential in the APEC region, covers 19 APEC
member economies other than Peru and Papua New Guinea.

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 The breakdown of the CO2 emission reduction potential of 10.3Gt
by technical field shows that renewable energy have the highest
potential at 3.2Gt, accounting for 31.1% of the total. Increased
energy conservation are 3.1Gt (30.4% of the total).
Hydrogen/ammonia technologies are 2.4Gt (23.3% of thetotal). CCUS technologies is 1.1Gt (10.2% of the total).
Nuclear power in the APEC region is the lowest at 0.5Gt (5.0%of the total).

CO2 emission reduction potential
by technology/economy (1/2)



100%
90%
80%
70%
60%
50%





 Efficiency: In 2050, China is
expected to account for thelargest share in total APEC CO2emission reduction at 40%,
followed by USA (22%),
Indonesia (8%) and Russia(7%).
 Renewables: The largest
contribution to emission
reduction potentials in the
APEC region (3,137 MtCO2e)comes from China (1,734
MtCO2e), followed by the US(755 MtCO2e).

CO2 emission reduction potential
in 2050

40%
30%
20%
10%
0%
Efficiency Renewables Hydrogen

CCUS

Nuclear

AUS

BRN

CAN

CHL

CHN

HKG

IDN

JPN

KOR

MEX

MYS

NZL

PHL

RUS

SGP

THA

TWN

USA

VNM





 &# The breakdown of the CO2 emission reduction potential byeconomy shows that China has the highest potential at 4.9Gt,
accounting for 47.2% of the entire APEC region. The UnitedStates of America follows China at 1.9Gt (18.8% of the total).
Following China and the United States of America are Indonesia(0.7Gt, 6.7% of the total) and Russia (0.5Gt, 5.2% of the total).

100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
Efficiency Renewables Hydrogen

CCUS

Nuclear

AUS

BRN

CAN

CHL

CHN

HKG

IDN

JPN

KOR

MEX

MYS

NZL

PHL

RUS

SGP

THA

TWN

USA

VNM

 Hydrogen: APEC economies
will introduce hydrogen, withthe largest volume of demand
from China, US and
Republic of Korea.
 CCUS: The largest contribution
to emission reduction
potentials come from China(459 million tons), followed byIndonesia (183 million tons),
US (130 million tons) andRussia (122 million tons).
 Nuclear: China has thelargest emission reduction
potential, with 190 million tons
in 2050, followed by Viet Namwith 79 million tons, Japan
with 51 million tons, and the
U.S. with 50 million tons.

CO2 emission reduction potential
compared to 2050 reference emission levels
70

60

50

40

%

CO2 emission reduction potential
in 2050

CO2 emission reduction potential
by economy/technology



30

20

10

0
AUS

BRN

CAN

CHL

CHN

HKG

Efficiency


CO2 emission reduction potential
by technology/economy (2/2)

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This analysis defines CO2 emission reduction potential as thedifference between
 the "Reference Scenario” (the scenario in which past trends,
such as economic and social structures and technology
evolution, will continue) and the "Circular Carbon Economy/4R Scenario” (the scenario
in which powerful energy and environmental policies result insuccess to the extent possible and decarbonization
technologies using fossil fuels are introduced to the likely
extent determined by the IEEJ’s expertise).

CO2 emission reduction potential(by economy)

 



 









IDN

JPN

KOR

Renewables

MEX

MYS

Hydrogen

NZL
CCUS

PHL

RUS

Nuclear

SGP

THA

TWN

USA

VNM

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OFFICE OF ENERGY EFFICIENCY & RENEWABLE ENERGYHYDROGEN AND FUEL CELL TECHNOLOGIES OFFICE

6

U.S. DEPARTMENT OF ENERGYOFFICE OF ENERGY EFFICIENCY & RENEWABLE ENERGY    

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U.S. DEPARTMENT OF ENERGYOFFICE OF ENERGY EFFICIENCY & RENEWABLE ENERGY      

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 " # 

Sunita Satyapal
Director, Hydrogen and Fuel Cell Technologies Office
Coordinator, DOE Hydrogen Program
U.S. Department of Energy!     #
& ' ($))         !!)$'''-*$$-   !                   
U.S. DEPARTMENT OF ENERGYHYDROGEN AND FUEL CELL TECHNOLOGIES OFFICE

       " 
  %$ #+ #+$"#+$)%$ 2%$" "" %!#    

OFFICE OF ENERGY EFFICIENCY & RENEWABLE ENERGY       

U.S. DEPARTMENT OF ENERGY

U.S. DEPARTMENT OF ENERGYOFFICE OF ENERGY EFFICIENCY & RENEWABLE ENERGYHYDROGEN AND FUEL CELL TECHNOLOGIES OFFICE

16

U.S. DEPARTMENT OF ENERGYOFFICE OF ENERGY EFFICIENCY & RENEWABLE ENERGYHYDROGEN AND FUEL CELL TECHNOLOGIES OFFICE

17                     # " "!
                       
    "%&#"$$ 

"# "$$"##$(0"("""# ,) 0)"
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Thank you for your attention
Department of Alternative Energy
Development and Efficiency
MINISTRY OF ENERGY

Charuwan Phipatana-phuttapanta

Visit us at : http://www.dede.go.th

Solar Energy Development Division                        

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MINISTRY REGULATION NO. 20/2020 ON POWER SYSTEM GRID RULES (GRID CODE )   /  

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36

SMART GRID CONCEPTSMART GRID DEVELOPMENT IN JAVA AND BALI (2020)'#    

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Nuclear Energy
in the APEC Region:
A View from Southeast Asia 
    

2

3

Action at Country Level (1)Outlook for nuclear power by 2050
• Uncertain, probably not major source of power▫ Potential for SMRs
▫ Multiple potential vendors• Constraints:▫ Political commitment: Perceived high cost cf renewables
 Public perception of risk

▫ No IAEA safety guidelines for licensing &regulating SMRs
▫ No large-scale SMR deployment elsewhere

Country

Research
reactor(s)NPP

StatusIndonesia

3

HTGR planned

Advanced, but no decision

Malaysia

1-

Advanced, but suspended

The
Philippines

1 (shutdown) 1 Mothballed

Reinvigorated

Thailand1-

Advanced, but no decision

Viet Nam

1-

Advanced, but postponed

Brunei
Darussalam--

Not a priority

Cambodia--

Future option

Laos

-

-

Not a priority

Myanmar--Not a priority

Singapore--

Future option

4

5

Action at Country Level (2)Action at ASEAN Level (1)• International Treaties• IAEA missions, advice, training• External partners:• Southeast Asia Nuclear-Weapon-Free Zone
Treaty (SEANWFZ, 1995)

Treaty & Networks▫ Russia, China, Japan, Republic of Korea, the USA,
Canada• Focus has changed from conventional, large-scale
reactors to include SMR’s and GIV reactors• COVID-19 seems to have slowed momentum▫ SEANFZ Commission• Nuclear Energy Cooperation Sub-Sector
Network (2008)• ASEAN Network of Regulatory Bodies on
Atomic Energy (ASEANTOM, 2013)• Network on Nuclear Power Safety Research(2018)

6

7

Action at ASEAN Level (2):Action at ASEAN Level (3)ASEAN Centre for Energy

Current priorities• External cooperation (mainly capacity building):• ASEAN Plan of Action for 2021-2025:▫ Canada Nuclear Radiological Programme
Administrative Support▫ Japan Atomic Energy Agency▫ US Department of Energy▫ China• Webinars• Reports▫ Capacity building in nuclear science &technology for power generation▫ Assess potential for nuclear power to support
energy transition and resilience▫ Public communication and awareness▫ Improve capacity in policy, regulation andtechnology relating to emerging technologies (eg
SMRs)

8

9

Action at ASEAN Level (4):Outlook for nuclear power by 2050

Nuclear power in the energy mix• Uncertain, probably not major source of power• ASEAN Centre for Energy, 5th ASEAN Energy Outlook(2017)▫ Nuclear: 0.2-0.5% of total primary energy by 2040

• International Energy Agency, ASEAN Energy Outlook(2019)▫ Potential for SMRs
▫ Multiple potential vendors• Constraints:▫ Political commitment: Perceived high cost cf renewables
 Public perception of risk▫ 2-3 GW of nuclear by 2040

• ASEAN Centre for Energy, 6th ASEAN Energy
Outlook (2020)▫ No IAEA safety guidelines for licensing &regulating SMRs
▫ No large-scale deployment elsewhere▫ No mention of nuclear by 2040

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