“There are six policies, but the main objective is ensuring that no one is left behind during the transition, including the micro, small, and medium enterprises,” PT Pertamina (Persero) CEO Nicke Widyawati said in Indonesia Pavilion at the World Economic Forum (WEF) event held in Davos, Switzerland, on Wednesday (18/1).
Widyawati, who also served as the co-Chair of B20-TF ESC at the G20 in 2022, said Indonesia was the first developing country that held the G20 Presidency.
According to her, the recommendations are needed to accelerate the energy transition.
The six policy recommendations that the task force has outlined include progressively enhancing the quantum, predictability, and ease of financing flows to developing countries.
The task force must also ensure the MSMEs’ participation in energy transition activities with financing and capacity building; as well as facilitate the adoption of technology by households and MSMEs for efficient, clean, modern energy usage.
The fourth policy recommendation is related to accelerating the deployment of integrated electricity access solutions, including off-grid with community participation and grid-based electrification to expand energy access and enhance economic prosperity.
The task force further outlines a need to implement a policy that ensures an orderly transition in primary energy sources, and a policy that supports climate technology innovation by supporting start-ups and research universities with technology, financing, skilled human resources, knowledge, and sharing facilities.
The B20-TF ESC also has priorities such as accelerating sustainable energy use, ensuring just and affordable transition, and enhancing energy security.
To this end, Widyawati highlighted the importance of strengthening a collaboration between developed and developing countries as it is a key to achieve the three priorities.
The B20 acts as the catalyzer and encourages companies or countries to have global partnerships, she said.
There are at least 36 partnership agreements involving 11 countries with potential project values of around 11.5 billion US dollars outlined from the B20-TF ESC.
Besides, there are also 12 partnership opportunities, five business matching events, and two collaborations with investment platforms in business matching avenues from the B20-TF ESC.
Hence, those business actions are pursued through global partnerships to materialize policy recommendations.
The B20-TF ESC is a task force generated by the B20 engagement group in the G20 forum, where Indonesia acted as the president in 2022.
The task force addresses issues related to energy, sustainability, and climate in the joint efforts of member countries to tackle climate change.