On July 30, 2024, ABB and the Financial Times (FT) hosted the inaugural Accelerating the Energy Transition in Asia event in Singapore, drawing 50 key figures from the energy sector. This event, led by ABB and FT, aimed to explore industrial strategies and policy drivers crucial for advancing sustainable energy solutions in Asia.

As Asia represents over half of the global population and CO2 emissions, its energy transition is vital to worldwide climate change mitigation efforts. Analysis by Bain & Company estimates that the region will need over $1.5 trillion in investments to meet its emissions reduction goals.

His Excellency Anders Sjöberg, Swedish Ambassador to Singapore gave the opening speech at the event.

His Excellency Anders Sjöberg, Swedish Ambassador to Singapore, praised the initiative: “This industry-wide gathering highlights the critical importance of addressing the energy transition in Asia. It’s essential for regional leaders to maintain momentum and take actionable steps towards sustainable progress.”

The event featured prominent speakers from S&P Global, Energy Market Authority, Shapoorji Pallonji & Co, Supreme Energy, and ABB, who discussed the advancements many Asian nations are making in adopting new energy technologies. Key topics included navigating regulatory challenges, integrating renewable energy into the power mix, and leveraging green technology.

Anders Maltesen, President of ABB Energy Industries in Asia, spoke on the regulatory frameworks shaping the region’s energy sector. His panel highlighted the importance of supportive policies, investor roles, and public-private partnerships in fostering sustainability.

Maltesen noted, “Asia’s energy transition is intricate, necessitating coordinated efforts from government, industry, and individuals. Varying stages of energy development across countries bring unique challenges, from infrastructure deficits to regulatory uncertainties. We must enhance the environment for renewable energy projects to achieve our targets.”

Supreme Energy’s President & CEO, Nisriyanto, emphasized the need for a realistic roadmap and commitment from all stakeholders: “While the energy transition may be challenging, it is essential. We need a clear plan and unwavering commitment to overcome commercial and policy barriers.”

The event also addressed the goal of reducing annual carbon intensity by 17.2% to limit global warming to 1.5°C by 2050. Discussions focused on renewable energy adoption, technological innovations, and the collaborative efforts necessary for a successful transition.

Ankit Garg, President of Projects at Shapoorji Pallonji & Co, urged for a shift towards greener energies: “To accelerate the transition, we must tackle both commercial and policy obstacles and drive innovation in all facets of the energy sector. Our responsibility is to care for the world for future generations.”

Cecillia Zheng, Research and Analysis Director at S&P Global, highlighted the event’s role in facilitating knowledge exchange: “As Asia grows economically, transitioning to renewable energy is crucial for reducing carbon emissions and ensuring energy security. This event offers a platform for sharing insights, best practices, and fostering collaboration to accelerate the energy transition.”

ABB’s Process Automation division enhances industrial operations through automation, electrification, and digitalization, addressing essential needs from energy and water supply to production and transport. With approximately 20,000 employees, ABB Process Automation helps clients in various industries improve performance and safety, promoting a more sustainable and resource-efficient future.

ABB, a leader in electrification and automation, integrates engineering expertise with advanced software to optimize manufacturing, movement, power, and operations. Building on over 140 years of excellence, ABB’s 105,000 employees are dedicated to driving innovations that advance industrial transformation.

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