"The ESC TF of the B20 has formulated three recommendations, which will be discussed as priority issues, namely accelerating the transition to sustainable energy use, ensuring a fair and affordable transition, and (encouraging) global cooperation to improve energy accessibility," she informed in a statement issued here on Friday.
B20 is the official dialogue forum for the global business community for providing practical policy recommendations from a business viewpoint to the G20.
According to the ESC TF chairperson, energy transition is on the agenda of all countries and must be supported to meet the targets of sustainable development goals (SDGs).
"The energy transition will certainly change everything, starting from the use of fossil fuel-based technology, markets, and financial products," she remarked.
The energy transition must be implemented in green financing, supply chains of the economy and green energy, the latest business models, sustainable governance, and the political economy of the country and the region, Widyawati said.
She further said she expects that through the B20 forum, Indonesia will invite all stakeholders to collaborate and ensure the world’s success in meeting inclusive and equitable sustainable development targets.
Meanwhile, chairperson of 2022 G20 B20, Shinta Kamdani, said that in the 2000–2019 period, all countries in the world spent huge sums on mitigating greenhouse gas emissions due to the use of fossil fuels.
The world has lost hundreds of billions of dollars to handle carbon emissions during the period. Hence, the ESC TF has recommended a number of policies and efforts that need to be taken during the energy transition phase.
"B20 Indonesia attempts to provide a solution and a connecting bridge to avoid the bigger impact of climate change, which causes global disasters," Kamdani said.
According to Chairperson of the Indonesian Chamber of Commerce and Industry (Kadin) Arsjad Rasjid, the energy transition would have many positive impacts on the Indonesian economy and the world.
He said that energy transition efforts would ease the burden on the state budget from providing fossil energy subsidies.
In addition, the downstreaming of Indonesia's natural resources, such as nickel, could contribute to building a green economic ecosystem, especially for the electric car and solar panel industries, which require nickel as raw material for batteries and panels.
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