Page 10 - AsiaElec Week 34

AsiaElec NEWS IN BRIEF AsiaElec

POLICY

Japan called to reform

power mix

To do its part to help avoid catastrophic
climate change, Japan must significantly
change its power mix between now and 2030,
according to a report by the Asia Investor
Group on Climate Change. Bloomberg
reported.
The country must lift the proportion of
renewable energy in its generation to 50
percent, and nuclear to 20 percent, by 2030 to
meet Paris Agreement goals of limiting global Sudan to a list of more than 100 countries since 2017 and was appointed to its Board of
warming to 1.5 degrees Celsius, the group receiving a total of $6.2 billion to reduce Directors in 2019. The appointment follows
said in a policy statement released Monday. planet-heating emissions and enhance climate the resignation of Andy Kinsella, who served
Japan must also halt the use of coal and gas resilience. as Chief Executive since 2017.
for power generation between 2035 and 2040, The Green Climate Fund (GCF) was set Mainstream’s Chairman, Dr Eddie
it said. up under U.N. climate talks in 2010 to help O’Connor, said: “I’m delighted to announce
Despite growing international pressure, developing nations tackle global warming, the appointment of Mary Quaney to lead
Japan has yet to kick its reliance on coal, and started allocating money in 2015. Mainstream through the next phase of
which generated nearly a third of its electricity Executive Director Yannick Glemarec said our high-growth trajectory. Mary brings
in the year ended March, 2019. Under the fund had “a key role to play to maintain significant experience and a record of success
its basic energy policy set in 2018, Japan climate ambition in the era of COVID-19” that will be critical as we continue to build the
aims to raise its renewable ratio to 22 to 24 and would aim to improve the speed and company across the world as the transition
percent by 2030, and its nuclear ratio to 20 efficiency of its response to developing to renewable energy accelerates. Mary will be
to 22 percent. A panel with the Ministry of country needs. supported by our Chief Operations Officer
Economy, Trade and Industry proposed in Board co-chair Nauman Bashir Bhatti, Bart Doyle and the Global Leadership Team
July the review of Japan’s long-term power mix from Pakistan, said climate finance would be that is so admired within the industry.”
targets should start next year with a focus on crucial for recovery from the pandemic and The Board wishes to acknowledge the
decarbonization. the fund needed to increase support “even contribution of outgoing CEO Andy Kinsella,
Renewables represented 17 percent of during these difficult times”. who has served the company as CEO and
the country’s total power generation in the Those promises came as small island states previously as Head of Offshore.
year that ended in March, 2019. Natural gas criticised the pace and size of GCF assistance, Dr O’Connor said: “Andy has had a very
generated 38 percent and nuclear 6.2 percent. saying they were now struggling with the successful career at Mainstream. The greatest
Climate change scenarios developed by the economic blow from the pandemic on top of test of any departing CEO is the quality of
Network of Central Banks and Supervisors climate change impacts such as rising seas and the management that follows their tenure.
for Greening the Financial System (NGFS), stronger storms. Andy brought a passion and commitment to
which the AIGCC used in its analysis, suggest Fiji’s U.N. Ambassador Satyendra Prasad the senior roles he fulfilled at Mainstream.
that achieving the Paris Agreement goals will said COVID-19 risked worsening the already He has left the company in great shape with
require an additional $330 billion in annual high debt burden of small island nations, as a very accomplished senior management, led
investment up to 2050 across the entire Asian tourism dived. by Mary Quaney, poised to advance further
energy sector. “The importance of the (GCF) ... in the company’s ambitions. I and our Board are
accelerating transformative climate action in grateful to Andy and wish him every success
this present decade cannot be understated,” he in all his future endeavours.”
added.
COVID -19

Climate fund for poor APPOINTMENTS GAS-FIRED GENERATION

nations vows to drive green Mainstream appoints Mary Energy Capital Vietnam
COVID recovery (ECV) LNG project

The Green Climate Fund has promised Quaney as Group Chief expected to be added to
developing nations it will ramp up efforts Executive Officer
to help them tackle climate challenges as Vietnam National Power
they strive to recover from the coronavirus The Board of Mainstream Renewable Power
pandemic, approving $879 million in backing is pleased to announce the immediate Development Plan
for 15 new projects around the world, appointment of Mary Quaney as Group Chief
Reuteres reported. Executive Officer. Vietnamese Prime Minister Nguyen Xuan
At a four-day virtual board meeting ending Mary joined Mainstream in 2009. She has Phuc has assigned Vietnam’s Ministry of
late Friday, the fund added Afghanistan and held the role of Group Chief Financial Officer Industry and Trade a directive to propose a

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