Under the 2022 Indonesia G20 Presidency, the G20 has elevated the global clean energy transition to a G20 Leader level priority. Based on the three priorities of the G20 Energy Transition Working Group (ETWG), the Indonesian G20 Presidency has developed a framework for accelerating a clean, sustainable, equitable, affordable and inclusive energy transition.
The Bali Energy Transition Roadmap to 2030 (“The Bali Roadmap”) aims to provide a way of accelerating the G20 countries towards low emission and zero emission development by 2030. Read below to find out more about the Bali Energy Transition Roadmap.
Important Components of The Bali Roadmap
The first important component of The Bali Roadmap is the Bali Compact. Offers an inclusive framework for G20 members to accelerate the clean energy transition that includes everyone. The guiding principles of the Bali Compact include:
- Framework implementation and review for better decision making
- Improve energy security and market stability and affordability
- Secure infrastructure and energy supply systems that are resilient and reliable
- Increase energy efficiency
- Diversify systems and energy mixes
- Sustainable and inclusive investment at scale
- Collaborate in mobilizing all financial resources
- Promote affordable, smart and zero-emission innovative technologies
- Build and strengthen innovation ecosystems to drive research, development, demonstration, dissemination and adoption
Priorities of The Bali Roadmap
There are 3 main priorities of The Bali Roadmap in accelerating the energy transition, namely securing energy accessibility, increasing smart and clean energy technology, and advancing clean energy financing. These three priorities are supported by a number of actions involving all parties, from the government to the community.
Some of the actions that will be carried out in The Bali Roadmap include:
- Focus on the minimum needs of modern energy and the concept of affordable, reliable, modern and sustainable energy services.
- Address energy poverty that arises when energy is no longer affordable and inaccessible to poor households.
- Strengthen the government’s approach to the national clean energy transition through planning, implementation, and tracking in energy policy decision making.
- Support G20 engagement with global clean energy technology partnerships, including at the sectoral levels energy efficiency, power, industry, transport, electrification, and energy systems.
- Developing sustainable and inclusive financing solutions on a large scale through collaboration between international organizations and relevant partners.
- Develop closer ties between the G20 Energy Transition Working Group and the G20 Sustainable Finance Working Group.
- Decarbonization of electricity and the transportation sector. The G20 will develop policies to decarbonize the transport sector including roads, aviation, the maritime sector, and mobility.
- Promote the resilience and sustainability of clean energy supply chains. The G20 needs to support the formulation of standards to support diverse, responsible, sustainable, and resilient energy supply chains for the production, processing, and recycling of essential minerals.
Apart from those mentioned above, there are many other actions that will be undertaken in The Bali Roadmap. The government also said to speed up the closure of coal-fired power plants and develop renewable energy that is equitable and sustainable. However, one thing that is most important from this energy transition map is inclusiveness to accelerate the achievement of zero emissions in 2030.