James Kon
To accelerate action in Brunei’s journey towards a net zero future, it is important to identify the broad range of benefits, outcomes and in-country value as a result of the energy transition, that goes beyond a single parameter recognising that large scale implementation will also require solutions supported by policies and regulations, said Managing Director of Brunei Shell Petroleum Company Sdn Bhd (BSP) and Shell Country Chair in Brunei Agnete Johnsgaard-Lewis.
She said this during the unveiling of the System Value Analysis (SVA) for Brunei Darussalam at the International Convention Centre (ICC) yesterday as part of the programme under Energy Week of the Brunei Mid-Year Conference and Exhibition (Brunei MYCE 2022).
Johnsgaard-Lewis said, “The SVA is a holistic framework that evaluates economic, environmental, social, and technical outcomes of potential energy solutions and is a wider lens for decision making, shifting commercial focus beyond just cost to include an additional set of parameters in defining value.”
The World Economic Forum (WEF), she added, “developed the system value framework to drive discussions and actions to accelerate the clean energy transition. As the country progresses towards a low carbon and climate resilient nation, BSP is committed to be a trusted partner with the Brunei Government and lends its support to shape possible policies that can support Brunei’s ambitions to move towards net-zero by 2050. “We believe that the SVA study can be used to underpin further dialogues to drive alignment, decisions and meaningful change between private and public stakeholders. Collaboration is vital to unlock sustainable investments in solutions for a clean energy transition.”
The possible solutions identified for Brunei, she added, “include the deployment of distributed solar, leverage Brunei’s floating solar potential for grid connected capacity and green hydrogen production, Carbon Capture, and Storage (CCS) to decarbonise industries, both domestically and internationally and scale up Electric Vehicles (EV) and boost public transportation. Overall, these four solutions will help Brunei achieve its national 2035 emissions target and stay on track to achieve net-zero by 2050.”
She iterated that the speed of the transition to a low carbon future will crucially depend on action taken to put in place the broad range of policies necessary to drive and accelerate changes.
The possible benefits derived from cleaner energy go beyond just numbers – it will boost in-country value and deliver economic benefits such as job creation, she added.
Meanwhile, BSP In-Country Value Manager Hajah Rosita binti Haji Hassan said, “The SVA is crucial for Brunei to understand how we can collectively leverage from the clean energy transition journey, and for the country to benefit from the socio and economic impact of the
green projects.
“The possible benefits we can derive from cleaner energy goes beyond just numbers – we believe these solutions can help boost in-country value through the development of green and sustainable projects and especially in the creation of new jobs. Brunei has the potential to reposition itself as a key player for green energy transition in the region,” she said.
“The WEF developed the System Value framework to drive discussions and actions to accelerate the clean energy transition. The SVA of Brunei will be shared and made available to the public on the WEF website next week.
“From there, the SVA can be used for dialogues to drive alignment, decisions and meaningful change between private and public stakeholders and conducive policy creation towards Brunei’s net zero ambitions.
“BSP is already a willing and able player and is moving in step with the global drive towards a low carbon future, while aiming to sustain its significant contribution to the Brunei economy; sustainably powering Brunei and delivering energy responsibly and safely.”
Permanent Secretary of the Department of Energy, Prime Minister’s Office Haji Azhar bin Haji Yahya was the guest of honour. Executive Committee members of the Brunei Climate Change Secretariat, academias and representative from various private sectors were also present.
