Siemens publishes new study on climate change

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The launch was followed by a panel discussion on how Vietnam was guaranteeing economic and energy security while also facilitating a lower carbon energy system with a strong focus on the role of the private sector.

Through online survey and direct interview, the report collates the opinions of various players actively involved in energy-related investments, infrastructure as well as policy development from both the private and public sectors in Southeast Asia.

The study was not only to gauge the attitudes of relevant industry players towards the climate policies in the region, but also, the role that the private sector could play in it.

Result of the study reinstates the fact that energy demand in the top six ASEAN economies continues to increase and as a consequence emissions are rising rapidly.

Active participation outside government circles and collaborative partnerships between governments and private sector companies is reported as key to successful mitigation of emissions in the region.

Sixty-four per cent of the survey respondents shares that the promotion of renewables would be the most efficient way of de-carbonizing energy systems while around 40 per cent of them expects the private sector to play a primary role in mitigating climate change.

In Vietnam, emissions have been rising at robust rate over the last decade. According to the International Energy Agency (IEA), between 2006 and 2015 Vietnam’s energy-related CO2 emission has risen by an annual average of 10 per cent due to rapid growth in its economy and in energy consumption.

Vietnam’s INDC (Intended Nationally Determined Contributions) includes both a mitigation and adaptation component. With international support Vietnam has pledged a 25 per cent reduction in emissions from its BAU (business-as-usual) scenario by 2030.

The study reveals that the ability of Vietnam to do so will also depend on their capacity to attract a sufficient level of investment from the private sector.

All five key panelists in the panel discussion, including president and CEO of Siemens Vietnam Pham Thai Lai, highlighted the need for the private sector to step up in the fight against climate change.

“Siemens is committed to combating climate change and we aim to be the world’s first major industrial company to achieve a net-zero carbon footprint by 2030.

“The company plans to cut its carbon dioxide emissions – which currently total about 2.2 million metric tonnes a year – in half by as early as 2020.

“To achieve these goals, Siemens will invest some €100 million ($112 million) over the next three years in order to reduce the energy footprint of its production facilities and buildings,” said Lai.