Bali Compact summarizes approach to achieve net zero emissions: Arifin Tasrif

Jakarta (ANTARA) - Concept of Bali Common Principles in Accelerating Clean Energy Transitions, or Bali Compact, summarized a comprehensive approach to achieve net zero emission commitments through Indonesia's G20 Presidency, Energy and Mineral Resources Minister Arifin Tasrif stated.

"The concept will accelerate G20's work in achieving net zero emissions. We have outlined a short-term mitigation strategy to help tackle climate change by accelerating clean energy transition," he noted at the Energy Transitions Ministerial Meeting (ETMM) , Friday.

ETMM is part of the Energy Transition Working Group in the G20 Sherpa Track to discuss ministers' efforts in the global economy, energy outlook, efforts to accelerate the transition of energy, access to finance, and also technology. The meeting will be held this Friday in Bali.

Tasrif highlighted that Indonesia has shown responsibility toward global leadership in the G20. He also said that G20 member countries were encouraging work to meet current energy needs, especially in developing countries.




"We will strive for the most inclusive and sustainable transition. We ensure that our actions will support economic growth and resilience," the minister remarked.

Tasrif later stated that 2022 is a challenging year for policymakers around the world that were struggling to manage recovery from the pandemic amid various economic shocks and the increasing pace of structural transformation.

"We are now facing challenges with energy security, market volatility that causes unstable price, and crisis in living cost," Tasrif added.

He also called for global cooperation in coordinating policies to manage energy transition to move forward in line with increasing energy security.

Tasrif assessed that the G20 forum was able to support developing countries that were vulnerable to energy shocks.

"We must strive to improve resilience and future energy systems according to diverse paths and ensure that no one (country) is left behind," he emphasized.