Opening Remarks by Mr Richard Lim, Chairman, EMA at the SIEW 2021 Global Launch

28 Apr 2021

Honoured Guests,
Ladies and Gentlemen,

1. It gives me great pleasure to welcome you to the Global Launch of the 14th Singapore International Energy Week, or SIEW. It is good afternoon in Singapore, and I offer you my greetings appropriate to your specific time zone for those joining us from other locations.

2. With your strong support over the last 14 years, SIEW has become a major platform for energy discussions impacting Asia and the world.

3. Last year we held SIEW in a hybrid format for the first time given the challenging constraints imposed by the global pandemic.

4. It was the first such conference event in Singapore involving the physical presence of about 250 people onsite and many more online from many parts of the world.

5. We received positive feedback and suggestions. Hence, this year, SIEW will again feature a week of engaging energy discussions, both onsite and online.

6. SIEW will be especially significant this year for us in Singapore, as 2021 also marks the 20th Anniversary of the Energy Market Authority or EMA.

SIEW Theme

7. This is an important year for energy discussions given the urgency to tackle climate change.

8. The United Nations High-Level Dialogue on Energy and the United Nations Climate Change Conference, or COP26, will convene energy players to shape the future energy landscape.

9. SIEW will add to these discussions, as a key platform for Singapore and the region to contribute to this global energy dialogue.

10. I am therefore delighted to announce this year’s theme for SIEW - Advancing the Energy Transition.

11. At SIEW 2021, we will explore how we can work together to accelerate the transition towards a low carbon energy future.

12. We will also focus on the role of innovation in building a more sustainable energy future.

13. The energy transition will mean adopting greener energy sources and changing our lifestyles to reduce energy consumption.

14. And while low carbon energy sources are gaining ground, challenges remain.

15. According to the International Renewable Energy Agency or IRENA, the pace of the energy transition is far from what is needed to be in line with the Paris Agreement.

16. If polices are not fully implemented, emissions could potentially rise by 27 percent over the coming three decades[1].

17. As we recover from the pandemic, we also need to balance economic growth with energy sustainability.

18. The International Energy Agency or IEA reported that global energy CO2 emissions are expected to see its second-largest annual increase of almost 5% or 1,500 Metric tonnes of carbon dioxide equivalent (MTCO2e) in 2021[2].

19. This is a worrying trend, and particularly critical in Asia where we expect to see significant growth in energy demand.

20. According to the IEA, Southeast Asia is one of the fastest growing regions in terms of energy demand, growing by more than 6% annually over the last 20 years on average[3].

21. Therefore, there is greater need for international collaboration to advance the energy transition and create a more sustainable energy future through initiatives such as increased electrification, regional grids, and technology enabled innovation.

22. There are also opportunities to work together to create business opportunities, green jobs, and support for infrastructure investment.

23. These will enhance energy resilience and ensure a just and inclusive energy future for all.

Highlights at SIEW 2021

24. To address these energy issues impacting Asia, SIEW 2021 will bring together several new conferences this year.

25. For the first time, Singapore and the IRENA will co-host the inaugural Singapore-IRENA High-Level Forum.

26. The forum will discuss mobilising investments to support the low carbon energy transition and to mitigate climate change.

27. A new conference on the Future of the Grid will also examine grid optimisation and the impact of electrification.

Partner Events

28. SIEW will also feature our returning partner events focusing on key industry sectors.

29. Asia Clean Energy Summit will examine the role renewable and clean energy in the transition.

30. The Asian Downstream Summit, co-located with the Asian Refining Technology Conference, will focus on sustainability & productivity in refining & petrochemicals.

31. The LNG & Hydrogen Markets Asia Conference will share insights on the growth and development of LNG and hydrogen in the region.

32. Other key events such as the Singapore-IEA Forum, SIEW Energy Insights and SIEW Thinktank Roundtables will showcase perspectives from renowned international organisations and industry captains.

Conclusion

33. I would like to thank our speakers for joining us today to kickstart the discussions and to all present here for your strong support.

34. Finally, I would like to invite all of you to join us (onsite or online) at the 14th SIEW, taking place this 25-29 October at the Marina Bay Sands, Singapore.

35. Thank You.


[1] IRENA World Transitions Energy Outlook

[2] IEA Global Energy Review 2021

[3] IEA Electricity Market Report - December 2020, Regional Focus Southeast Asia

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