SINGAPORE: Political dangers from the potential lack of public help on rising electrical energy tariffs pose a significant impediment to the transition to cleaner sources of electrical energy, ministers from New Zealand and Cambodia mentioned at an occasion on Monday (21 October). vitality sector.
“It’s extremely necessary to take the general public together with you, as finally they need to consider that what you are doing is bettering their lives,” mentioned Shane Jones, New Zealand’s affiliate minister for vitality, on the Singapore International Energy Week Conference. ‘Energy (SIEW).
Jones mentioned New Zealand’s electrical energy charges had been corresponding to Singapore’s, rating among the many highest within the Asia-Pacific area.
“If the general public feels they can not see the silver lining of medium- and long-term optimistic local weather outcomes, and endure disproportionately alongside the best way, that results in political chaos,” Jones mentioned.
Cambodia’s Energy Minister Keo Rottanak mentioned Southeast Asia’s transition to internet zero can be costly and take a very long time.
“If we do not cut back prices, we might lose public help, after which all of this may disappear,” he mentioned.
At the identical occasion, Amin Nasser, CEO of Saudi Aramco, the world’s largest oil-producing firm, cited the constraints of present transition plans.
“In a transition that requires staggering quantities of front-end capital funding, the price of capital is greater than double in creating nations the place the necessity is biggest,” he mentioned.
“Let’s be clear: all vitality sources can be wanted for many years to come back. Planners should additionally abandon the idea {that a} single plan can meet the wants of greater than 200 nations,” he mentioned.
The transition “could be expensive for everybody,” he mentioned.
Nasser mentioned current plans had additionally failed to scale back demand for carbon-intensive coal.
“Trying to impose an unworkable and unsustainable transition plan on them will solely threaten their financial progress and even social cohesion,” he mentioned, referring to the Global South.
