Cross-industry collaboration necessary for energy transformation in Asia

SIEW Energy Insights was held in Tokyo on 23 July. The event was organised by Energy Market Authority of Singapore (EMA) in collaboration with International Energy Economics, Japan (IEEJ), and was held after the IEEJ Short-term Outlook seminar. SIEW Energy Insights featured an open discussion around energy transformation and the changing energy landscape in Asia and Japan.

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Professor Masakazu Toyoda, Chairman & CEO of the Institute of Energy Economics, Japan (IEEJ) delivered his opening address sharing insights on how to achieve a sustainable energy future

The panel, made up of leaders in the Japanese energy industry, addressed the impact of energy transformation, electrification and digitalisation on Japan and Asia. They discussed the importance of digitalisation in cost efficiency and stabilising energy production, the role of electric systems in renewable energy infrastructure, and the role of financial organisations to drive new business models and advance renewable energy adoption. Well attended by industry players, the session was informative and lively, with audiences asking questions about key energy topics ranging from renewables, energy storage to financing the energy transformation.

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Energy leaders in Japan discuss the impact of energy transformation, electrification and digitalisation

Panellists noted that industries must work together to accelerate energy transformation for a sustainable energy future.

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Panellists (left) Motoshi Muraoka, Partner, General Manager, Socio-economic Structure Business Division, NTT Data Institute of Management Consulting, Inc. and (right) Yukari Yamashita, Board Member & Director, The Institute of Energy Economics, Japan (IEEJ).

As panellists look forward to SIEW 2019, they shared their thoughts on the theme for this year, Accelerating Energy Transformation.

“I think the important thing is not to be limited to the energy market. It is better to include energy policy and local economic development in accelerating energy transformation,” says Mr Motoshi Muraoka, Partner, General Manager, Socio-economic Structure Business Division, NTT Data Institute of Management Consulting, Inc.

“The current industrial structure, in which fossil fuels generate electricity, is at a major turning point, accelerating current decarbonisation” says Mr Futoshi Kuwamoto, Business & Market News Section Editor, Nikkei Asian Review Department, Editorial Bureau, Nikkei INC. “In this sense, SIEW is a good platform that can further strengthen the relationships amongst energy players, such as governments, manufacturers, financial institutions and service industries.”

“Accelerating energy transformation is very important, for Japan, for Asia and for the world,” says Mr Takehisa Manabe, Joint General Manager, Structured Finance Department Tokyo, Sumitomo Mitsui Banking Corporation. “As a financial institution, there is a lot of space to support to [move this transformation] forward.”

“I think it is very important to discuss accelerating energy transformation at SIEW [this year],” says Ms Yukari Yamashita, Board Member & Director, The Institute of Energy Economics, Japan (IEEJ). “It is an ideal platform because all the thought leaders from the industry, government and international organisations will be there.”

“I think the key points of the sustainable energy system are electrification and digitalisation. The Singapore Energy Summit accurately reflects this matter,” says Mr Naoki Toda, Chief Economist, Tokyo Electric Power Company (TEPCO) Research Institute, “So I hope it will be a fruitful discussion.”

Registration for SIEW 2019 is now open. We look forward to further exchanging insights and seeing you from 29 October to 1 November 2019.

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