1. Conference on APEC Green Energy Finance
Session V: Cooperation Prospect in Green Energy Finance Field in APEC region
The Path to a Low Carbon APEC: Renewable Energy Doubling and Energy Intensity Reduction Goal
Jyuung-Shiauu Chern
Section Chief, Planning Division
Bureau of Energy, Ministry of Economic Affairs
Chinese Taipei
19 August 2016

2. Leaders’ Commitment to a Low Carbon APEC
2015 APEC Leaders’ Declaration
“We therefore reaffirm our aspirational goals to reduce aggregate energy intensity by 45 percent by 2035 and double renewable energy in the regional energy mix by 2030 to achieve sustainable and resilient energy development within the Asia-Pacific. “
“We reaffirm our commitment to rationalize and phase out over the medium term inefficient fossil fuel subsidies that encourage wasteful consumption while recognizing the importance of providing those in need with essential energy services.”

3. Ongoing Cooperative Activities for a Low Carbon APEC
APEC Green Energy Finance Initiative
To provide a framework and platform for dialogue and cooperation as well as to
promote the public private partnership in green energy finance.
Energy Smart Communities Initiative
To aid economies in achieving energy intensity reduction goals by disseminating
best practices in buildings, transportation, smart grids, and green jobs and low
carbon model town.
Peer Review on Energy Efficiency (PREE) and Follow-Ups
To provide recommendations for a volunteer economy based on best/high
performance practices
Peer Review on Low Carbon Energy Policies
To assist volunteer APEC economy to promote low-emission power sources by providing recommendations from APEC peer review experts.
Peer Review on Fossil Fuel Subsidy Reform
To provide targeted assistance for APEC economies that wish to implement reform, and to develop useful analysis and effective recommendations for the Reviewed Economy

4. APEC Energy Smart Communities Initiative (ESCI)
Knowledge Sharing Platform
Smart Transport
Smart Buildings
Smart Grids
Smart Jobs
Low Carbon Model Towns
ST-1: Energy Efficient Urban Transport Network
ST-2: Energy Efficient Freight Transport Network
ST-3: Electromobility Survey and Roadmap
ST-4: Electric Vehicle Demonstrations
SB-1: Low Energy Buildings Network
SB-2: Materials Testing and Ratings Center
SB-3: Cool Roof Demonstrations
SB-4: Low Energy Windows Demonstrations
SG-1: Smart Grid Survey and Roadmap
SG-2: Smart Grid Test Bed Network
SJ-1: Energy Efficiency Training Curricula
SJ-2: Energy Efficiency School Curricula
SJ-3: Sister Schools Programs

5. APEC Renewable Energy Doubling Goal
Background
The United Nations Secretary-Genera launched a pioneering new initiative, “Sustainable Energy for All” (SE4ALL), on 1 Nov 2011, to mobilize urgent global action: Double the share of renewable energy in the global energy mix by 2030.
In 2014, APEC Leaders and Energy Ministers endorsed the aspirational goal of “doubling the share of renewables in the APEC energy mix, including in power generation, from 2010 levels by 2030.”
APEC Energy Ministers instructed the Energy Working Group to develop the road map to achieve this doubling goal. 4

6. APEC Discussion on Definition of Renewable Energy
Energy in New and Renewable Questionnaire
Fuel Wood & Wood Waste Hydro
Bagasse Geothermal
Charcoal Electricity
Other Biomass Heat
Biogas Solar
Industrial Waste Photovoltaic
Municipal Solid Waste Thermal
Liquid Biofuels Electricity
Biogasoline Heat
Bioethanol Tide, Wave and Ocean
Bio-jet Wind
Biodiesels
BIOMASS ENERGY
Often the use of traditional biomass leads to high pollution levels, forest degradation, and deforestation.

7. Doubling RE vs. Doubling Modern RE
Estimated RE Share of Global Final Energy Consumption, 2011
Source: REN (2013) 19
100
19 – 9.3
100 – 9.3
9.7
90.7
10.7
100
Modern RE = =
RE = =

8. Filling the Gap to Reach the RE Doubling Goal
Data Collection
Potential Evaluation
Strategic Roadmap
Gap Criterion
Report
Renewable Energy
Doubling
Goal

9. GAP Filling the Gap to Reach the RE Doubling Goal Renewable Energy
Biomass ?
Wind ?
Solar PV ?
GAP
Renewable Energy
Current RE Target 2030
A Roadmap will be developed in the following year with member economies’ cooperation within APEC Energy Working Group.

10. APEC Energy Intensity Reduction Goal
Background
In 2010’s Yokohama APEC Leaders Growth Strategy: “APEC will assess the potential for reducing the energy intensity of economic output in APEC economies between 2005 and 2030, beyond the 25 percent aspirational goal already agreed to by APEC Leaders in 2007.
In 2011, APEC Economic Leaders’ Declaration adopted a goal of reducing the APEC-wide energy intensity (that is energy demand/GDP) by 45% between 2005 and 2035.

11. Monitoring of APEC Energy Demand
According to APERC’s study, final energy demand rises 32% from 2013 level by APEC’s energy intensity reduction target of 45% cannot be met by 2035 in the BAU scenario.
-Substantial action must be taken to change the path of APEC’s growing energy demand.
-APERC will further explain their study on the scenario of mitigating growing energy demand.

12. APEC’s Cooperation on Energy Efficiency Improvement
APEC's aggregate energy intensity reduction goal by 45 % by 2035
APEC Leaders
Honolulu Meeting
Energy intensity reduction goal of APEC region by at least 25% by 2030
Introduction of PREE
APEC Leaders
Sydney Meeting
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
PREE
(Peer Review on Energy Efficiency)
Follow-up PREE
CEEDS
(Cooperative Energy Efficiency Design for Sustainability)
1.New Zealand
2. Chile
3.Viet Nam
4.Thailand
5.Chinese Taipei
6.Peru
7.Malaysia
8.Indonesia
9.The Philippines
10.Brunei Darussalam
1.Viet Nam
2.The Philippines
3.Thailand
1.Chinese Taipei/Japan
2.Thailand/Hong Kong
3.USA/
Singapore
4.Thailand/
Chinese Taipei
(EE Standards and Labeling, S&L)
(Building Energy Efficiency Codes and Labeling)
(Energy Efficiency for Urban Transport)
(ESCO Industry)

13. Fossil Fuel Subsidy Reform
Background
In 2009, the leaders of the Group of Twenty (G-20) countries agreed to phase-out inefficient fossil-fuel subsidies over the medium term.
In 2009, APEC Leaders committed to: “rationalize and phase-out inefficient fossil-fuel subsidies that encourage wasteful consumption, while recognizing the importance of providing those in need with essential energy services.”
In 2013, APEC Energy Working Group (EWG) developed a voluntary peer review of inefficient fossil fuel subsidy reform to assess APEC’s progress towards its green growth agenda
2014
2015
2016
2017
Peru
U.S-China
(under G20, ongoing)
New Zealand
The Philippines
Chinese Taipei
Viet Nam
Brunei Darussalam

14. USD 93 saved per tonne of CO2e abated from FFSR
Fossil Fuel Subsidy Reform
Fossil Fuel subsidies are a barrier for clean energy development and reforms can redirect savings to cleaner, renewable energy options.
11%
USD 93 saved per tonne of CO2e abated from FFSR
Making the case for reinvestment into renewables for future sustainable energy systems
18%
GHG savings: Research across 20 countries finds average national emissions reductions of 11 per cent through phase out of fossil fuel subsidies by Leading to average annual saving to governments of close to USD 93 per tonne of GHG emissions removed, or a total (across just 20 countries) of 2.8 Gt of CO2e (Merrill, Bassi, Bridle, & Christensen, 2015). A review of research found projected global emissions reductions from the phase out of fossil fuel subsidies of between 6 and 13 per cent by 2050 (Merrill, Harris, Casier, & Bassi, 2015). By reinvesting a modest proportion of savings from fossil fuel subsidies into energy efficiency and renewable energy, this national average emission reduction could be improved to 18 per cent (Merrill, Bassi, Bridle, & Christensen2015a).
Source: Merrill, L., Bassi, A.M., Bridle, R. & Christensen L.T. (2015). Tackling fossil fuel subsidies and levelling the energy playing field. NCM/GSI. Retrieved from

15. Renewables: In 2014 fossil fuel subsidies stood at almost four times the level of subsidies to renewable energy (USD 135 billion) (IEA , 2015).
Climate Finance: Fossil fuel subsidies are five times the amount that the world has promised to raise annually toward low-emission and climate-resilient development pathways by 2020 (USD 100 billion annual target).

16. Financing Development: FFSR is included under Goal 12 within the Sustainable Development Goals: "Ensure sustainable consumption and production patterns" as a “Means of Implementation,” and also within the Addis Ababa Action Agenda for Financing for Development (both agreed in 2015). FFSR is a key consideration regarding domestic resource mobilization. Consumer subsidies to fossil fuel subsidies are around four times as large as OECD aid spending (USD 135 billion) in 2014.
GDP: Research from the IMF finds that reform and accurate taxation of fossil fuels could provide an average revenue stream to governments of around 2.6 per cent of GDP globally (Parry, Heine, Lis, Li, & Sears, 2014). Furthermore, the economic distortion from transport fuel subsidies has been estimated to amount to USD 44 billion of deadweight loss (2012) across 10 countries with the highest subsidies (Davis, 2014).
Source:

17. Way Forward
APEC Green Energy Finance Initiative will strengthen its role in serving as a platform for dialogues among relevant cooperative activities of APEC.
Under the framework of APEC Green Energy Finance Initiative, an in-depth capacity building activities will be conducted in 2017 to engage interested economies and related APEC sub-forums.
Constructive public-private partnership and regular dialogue between energy and finance will also be pursued for greater synergy in promoting green energy development.
Further APEC’s action to promote green energy finance will be discussed in Roundtable

18. Your comments are welcome!17 17