AsPac has low readiness for energy transition

MANILA, Philippines — The Asia Pacific region has low readiness for energy transition, requiring the implementation of systemic changes to speed up the shift to clean energy, based on the latest report of Siemens Energy.

Siemens Energy’s Asia Pacific Energy Transition Readiness Index revealed that the region’s energy transition is still in the infancy stage

The region had lofty energy transition ambitions, but the report revealed a significant gap between perception and reality when it comes to carbon emissions.

Analysis of the survey data found that the Asia-Pacific region had a score of 25 percent on the Readiness Index, which indicates how far a region is along its energy transition path.

A first of a series of studies to be conducted in different regions globally, the Asia Pacific Energy Transition Readiness Index is derived using an aggregate of participants’ response to each of 11 pre-determined key energy priorities, as determined by global management consultancy Roland Berger.

Participants agreed unanimously that each of the energy priorities have an important role to play in the region, with the accelerated expansion of renewables and the decarbonization of industry considered as the most important factors.

The report also revealed that progress in the 11 energy priorities was slow in Asia Pacific, with many of the priorities still in the planning phase.

The most progress was seen in power generation, with more than 80 percent of participants saying the acceleration of renewables is at least in the planning phase, with around a third already at implementation.