Page 5 - AsiaElec Week 36

AsiaElec COMMENTARY AsiaElec

Coal commitments still meant that it was on course to meet its 2030
apan is driving forward offshore wind expan- goals by pointing to a 12% reduction in emis-
sion, after falling behind regional Asian leaders sions between 2013 and 2018.
China and Taiwan. Patricia Espinosa, Executive Secretary of UN
In turn, Asia, especially if China is ignored, is Framework Convention on Climate Change
so far a major laggard when compared to Europe (UNFCCC), was disappointed with this state-
and North America. ment, and is still waiting for more ambitious
Global offshore wind installations could grow targets.
from 22.8 GW to 228 GW by 2030, according Japan is a major importer of fossil fuels, and
to International Renewable Energy Agency imported coal and gas are set to maintain their
(IRENA) figures. role in the energy mix, despite Tokyo’s backing
However, concerns about climate change, and for the expansion of renewable energy and inno-
the need for Asian economies to meet climate vative technologies such as hydrogen fuel.
goals, mean that the Asian market is expected to Indeed, the country is the world’s fifth-largest
grow faster in future. greenhouse gas (GHG) emitter, and has 22 coal
Europe has so far led the growth of offshore power plants at various stages of development
wind power, but Asia, where coal remains a and construction.
major source of electricity, is set to offer consid- There are 11.9 GW of coal capacity under
erable rapid growth to financiers and original development, data from Global Energy Mon-
equipment manufacturers (OEMs) in the com- itor (GEM) in the recently released Boom and
ing years. Bust 2020 report from GEM, Greenpeace Inter-
national, the Sierra Club and the Centre for
Policy choice Research on Energy and Clean Air.
Japan’s commitment to wind also comes as it has Against this background, it is good news that
received global criticism for not being whole- Japan’s first offshore bidding round is attracting
heartedly behind the energy transition, and for interest from investors with global experience
keeping policy and financial backing for coal. such as Equinor and JERA.
For example, it has refused to improve its However, with offshore growth reaching
emission reduction commitments this year, and record levels across Asia, Japan must put in place
has maintained its 26% target previously agreed major policy and financial incentives to make up
with the UN IPCC. lost ground and reach the development levels
In April, Tokyo said that this 26% reduction seen in South Korea and Taiwan.™

Week 36 09•September•2020 www. NEWSBASE .com P5