Distributed generation solar; floating solar for grid and green hydrogen; carbon as a business (carbon capture centre); and electric vehicles are four solutions that the Sultanate can focus on for its energy transition to become the net-zero capital of Southeast Asia, according to Accenture Strategy and Consulting in its System Value Analysis Brunei Darussalam for June 2022.
Professor Peter Newman from the Sustainability Policy Institute and Faculty of Humanities, Curtin University in Australia shared the solutions towards becoming the net-zero capital in his speech ‘Business, economics, and finance in a turbulent transition to net-zero’ at the 4th International Conference of Business, Economics and Finance, hosted by Universiti Brunei Darussalam (UBD) School of Business and Economics (UBD SBE) themed ‘Sustainable Green Future’.
Deputy Minister of Finance and Economy (Fiscal) Pengiran Datin Seri Paduka Hajah Zety Sufina binti Pengiran Dato Paduka Haji Sani was the guest of honour at the conference.
Professor Newman also reiterated the importance of partnerships and quoted Brunei Shell Petroleum Company (BSP) Sdn Bhd Managing Director and Shell Country Chair’s Agnete Johnsgaard-Lewis in her speech at the opening ceremony of the workshop ‘Progressing industrial collaboration towards a net-zero cluster concept’ recently. “As the country progresses towards a low carbon and climate-resilient nation, BSP is committed to being a trusted partner with the government of Brunei… Collaboration is vital to unlocking sustainable investments in solutions for a clean energy transition.”
Professor Newman also touched on net-zero transition global fundamentals, the turbulence of professional practice as net-zero mainstreams, how demonstrations are creating tools or barrels for the transition and showcase of cities and companies making the net-zero transition from oil and gas economics.
Dean of UBD SBE Dr Haji Masairol bin Haji Masri said, “As we assemble here to delve into the complexities of ‘sustainable green future’, it is crucial to recognise that on the same day of this event, the United Nations will convene the Sustainable Development Goals (SDGs) Summit at its headquarters in New York.
“Our gathering shares similar sentiments and goals with the SDG Summit, underlining the urgent need to tackle worldwide challenges and pursue a sustainable future.”
He added, “The conference theme, ‘Sustainable Green Future’, urges action to address environmental concerns, promote sustainability, and support economic growth.”
Also in attendance at the conference were Permanent Secretary (Economy, Trade and Industry) at the Ministry of Finance and Economy Dr Hajah May Fa’ezah binti Haji Ahmad Ariffin, Vice-Chancellor of UBD Dr Hazri bin Haji Kifle as well as foreign participants and invited guests.
The two-day conference is a continuation of the previous three conferences aimed to provide a platform for discussion on issues relevant to the theme, especially challenges faced by businesses regarding climate change and other future uncertainties as well as possible solutions. – James Kon