The 3rd Energy Transitions Working Group at Bali: The Foundation for G20 Energy Transitions Acceleration

MINISTRY OF ENERGY AND MINERAL RESOURCES

OF THE REPUBLIC OF INDONESIA

PRESS RELEASE

NUMBER: 336.Pers/04/SJI/2022

Date: 1st September 2022

The 3rd Energy Transitions Working Group at Bali: The Foundation for G20 Energy Transitions Acceleration

The 3rd Energy Transitions Working Group (ETWG) held in Nusa Dua, Bali was the third forum during the G20 Indonesia Presidency. Three main strategies in regard to the energy transitions, namely access, technology and finance were intensively discussed during the two days event attended by the G20 members and invited countries. These strategies aim to accelerate the energy transition and achieve global goals, both Sustainable Development Goals 7 (SDG7) and climate mitigation action target.

"All G20 members agreed upon these three energy transition pillars. It will give a very positive signal to global community that G20 has ambitious commitments to be part of the key solution for the global issues by: 1) supporting the global economic recovery after the pandemic, 2) accelerating the progress of the transition towards clean and just energy system, 3) encouraging access to affordable, reliable, and sustainable modern energy for all and, 4) accelerating efforts to reduce global emissions, 5) and increasing energy security to mitigate various risks causing the disruption of supply reliability and energy market instability," said the Chair of ETWG, Yudo Dwinanda Priaadi during the ETWG-III press conference at the Grand Hyatt Hotel, Bali, Thursday (1/9).

Yudho also stated that the 3rd ETWG will encourage a joint statement from the Ministers of Energy at the Energy Transitions Ministerial Meeting (ETMM). "We are so grateful that all countries are willing to reach consensus on various issues as much as possible. This is important in giving a signal to the global community that the G20 is an economic powerhouse committed to supporting global economic recovery while accelerating the energy transition," said Yudo.

The Working Group also succeeded in formulating basic principals in accelerating the energy transitions called as Bali COMPACT.

"Bali COMPACT contains basic principles agreed by the G20 members in implementing the energy transition acceleration. This document is agreed in Bali and will be a strong foundation and reference for G20 members in implementing the energy transition acceleration. These principals are then elaborated into a Bali Energy Transitions Roadmap within the framework of three energy transition pillars. The roadmap is supported by the international organizations acting as the knowledge partner of ETWG. The Roadmap is expected to be a suggested way to provide continuity in the global agenda," explained Yudho.

"We also discussed that the energy transition should not interfere with the economic growth of the developing countries. The energy transition is carried out fairly, taking into account the prices affordability, the inclusive types of energy and technology, as well as ensuring that it provides benefits for all affected community groups. Therefore, we are drawing up a joint agreement while still considering the situation and conditions of each country, how collaboration in the G20 can occur synergistically," he added.

For information, the 3rd ETWG will be followed by the Energy Transitions Ministerial Meeting (ETMM), a ministerial level meeting related to Energy Transition, which will take place at the same location as the ETWG, on Friday, September 2nd, 2022.

The Head of Communication, Public Information Service and Cooperation Bureau

Agung Pribadi (08112213555)

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