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Renewable Energy Markets (REM) Asia Conference 2024 Key Takeaways: "Exploring Impactful Procurement Strategies and the Dynamics of Renewable Energy Markets"

Writer: Lynn HSIAO

Social Media Team: George K. KIONGSON

(L-R) Dr. Takase and Dr. Jules Chuang discussed the trends and status of Japan’s renewable market


Reflecting on the participation in the REM Asia 2024 conference held in Singapore, we are excited to share insights gleaned from the dynamic discussions surrounding the renewable energy market in the Asian region. Esteemed industry professionals convened to shed light on key markets such as South Korea, Japan, China, and Singapore.

 

Discussions were facilitated by Dr. Jules, Director of Mt. Stonegate Green Asset Management, and Dr. Takase from the Renewable Energy Initiative, who explored the current landscape of corporate procurement strategies in the Japanese market.


Additionally, the conference addressed pivotal topics including corporate supply chain and impact procurement, renewable energy policy advocacy, and cross-border electricity transactions, fostering collaborative thinking among corporate representatives and attendees.


The following are three major takeaways from the conference:


  1. Rapid Market Dynamics Across Regions: The conference highlighted the dynamic nature of renewable energy markets across Asia, with each region facing unique challenges and opportunities. Recent policy changes in key markets like China and Japan reflect the constantly evolving landscape. The discussions also extended to emerging markets like Taiwan and the Philippines. Taiwan's struggle with supply-demand imbalances and the Philippines' approach to renewable energy within compliance and voluntary markets were explored in depth.


  1. Corporate Renewable Procurement Strategies and Next Steps: Representatives from leading corporations like Nike, AWS, Meta, and Google discussed their efforts to reduce Scope 3 emissions and enhance the impact of their Scope 2 renewable energy procurement. For instance, using CPPAs and aligning renewable energy procurement with SDGs to bring more benefits locally. This also aligns with the advocacy and trends of RE100 and other international initiatives.

  2. Focus on National Renewable Energy Policies: National governments play a crucial role in shaping the renewable energy landscape through policy and regulation. Effective cross-border electricity transactions require intergovernmental agreements and harmonization of energy policies. The expansion of the renewable energy market relies on coherent national strategies and active participation from stakeholders across the industry. Collaboration among corporations, traders, and policymakers is vital to overcome market challenges and achieve broader renewable energy and net-zero targets.



(Top-L-R) : Miley Zhang, Lynn Hsiao, Jules Chuang, and Krishnan Srinivasan





 







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