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SINGAPORE: Continuous innovation and development of new technologies will play a crucial role in reducing emissions as the world looks to a low-carbon future, industry experts said at the Singapore Energy Summit on Monday (26 October).
In a panel discussion titled “Innovation: Low Carbon Innovations”, the director of energy markets and security at the International Energy Agency (IEA), Keisuke Sadamori, pointed out to achieve a future with low carbon emissions and achieve net zero emissions. , new technologies and innovation must play “a very important role.”
In the IEA’s sustainable development scenario, Mr Sadamori noted that a third of the emissions savings needed to reach net zero emissions by 2070 come from technologies that are not yet commercially available.
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And in another assessment to achieve net zero emissions by 2050, nearly half of all emissions savings will come from technologies that are also not available in the commercial market, he added.
Since this is the case, there is a need for scientists, researchers and entrepreneurs to contribute to solutions for a low-carbon future, said Joseph McMonigle, secretary general of the International Energy Forum (IEF).
“This is really a call to action for all scientists, researchers and entrepreneurs. We need you and we need these new technologies to be created, because the problem is urgent,” he said.
“Certainly the energy transition is inevitable. But in order for us to achieve our goals, we have a lot more work to do.”
Mr. Sadamori also noted that the technologies behind the “success stories”, such as renewable batteries, often require “much” more innovation.
“This may seem counterintuitive, when we are used to hearing the success stories we have seen with renewable batteries or the news about hydrogen-based steelmaking,” he added.
“But the truth is that these are often technologies that still require much more innovation. Today they are in the prototype for the demonstration space. And then the question of whether we can decarbonize sectors like long-distance transport or heavy industry, a lot it depends on the rate at which these technologies can be improved, brought to market and expanded. “
In particular, about 75 percent of all emissions savings by 2050 from the long-distance transportation and heavy industry sectors will come from technologies that are not yet commercially available, added Mr. Sadamori.
“You can see the degree to which we need to rely on premature technologies and the very important role of innovation in solving this situation,” he said.
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When it comes to the Singapore experience, Professor Andy Hor, A * STAR Deputy Executive Director for Research, highlighted the need for international collaborations to achieve a low-carbon economy.
Citing the country’s interest in the use and storage of hydrogen and carbon capture as an example, Professor Hor said this has created “enormous research opportunities for all of us.”
“I think this is a huge challenge for you, for us and for everyone in the world … I think this is where innovations have to come in and play a huge role,” said Professor Hor.
“The Singapore experience is quite clear. Number one, this is where the whole system has to come together and of course organizational collaborations and cooperations become key,” said Professor Hor.
