Energy Transitions Ministerial Meeting: Bali COMPACT accepted by all G20 Members

MINISTRY OF ENERGY AND MINERAL RESOURCES

REPUBLIC OF INDONESIA

PRESS RELEASE

NUMBER: 338.Pers/04/SJI/2022

2 September 2022

Energy Transitions Ministerial Meeting: Bali COMPACT accepted by all G20 Members

The Energy Ministers of the G20 countries agreed on the Bali COMPACT. The document contains basic principles to accelerate energy transitions which will serve as the foundation and reference for G20 member countries in an effort to accelerate energy transitions.

"We are very pleased that our initiatives, i.e. Bali COMPACT has been agreed by all G20 member countries. This means that Bali will be once again recognized as an island producing valuable things in the world community," said Minister of Energy and Mineral Resources, Arifin Tasrif, in the press statement, after the closing of the G20 Energy Transitions Ministerial Meeting (ETMM) of Indonesia's G20 Presidency in Nusa Dua Bali, on Friday (2/9).

Furthermore, Bali COMPACT will be endorsed at the G20 Leaders' Summit in November 2022 in Bali.

Arifin also states that discussion held by the Energy Ministers resulted in Chair's Summary, i.e. a record of all interventions made at the Energy Transitions Working Group (ETWG) held in Yogyakarta, Labuan Bajo, and in Bali.

"The output of ETWG and ETMM is in the form of Chair's Summary, in which we write down all the discussions being raised during the meetings," added Arifin.

Besides Bali COMPACT, Indonesia also proposed the Bali Energy Transitions Roadmap as an initiative to provide continuity to the global agenda. The agenda aims to enhance the international cooperation and energy architecture.

"The Presidency's Roadmap sets out voluntary multi-years actions in order to achieve the Sustainable Development Goals (SDGs) and puts forward pathway towards Net Zero Emission (NZE) or Carbon Neutral in accordance with the national circumstances," he said.

This roadmap provides the framework to accelerate energy transitions through three main priorities, i.e. securing energy accessibility, scaling up smart and clean energy technologies, and advancing clean energy financing.

"Actions taken on these three priorities are the basis action plan towards a broader G20 action plans, to achieve a clean, sustainable, just, and affordable energy transitions and can be considered as the work program of the next G20 Presidencies," concluded Arifin.

Head of Bureau of Communication, Public Information Services, and Cooperation

Agung Pribadi

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