Event report

Past Event | Accelerating Decarbonisation in Singapore and the Region - Singapore-France Roundtable Discussion

23 October 2024

The French Chamber of Commerce in Singapore (FCCS), in collaboration with the French Embassy, successfully hosted an exclusive roundtable focused on Accelerating Decarbonisation in Singapore and the Region. Organised as part of the Year of Sustainability France-Singapore (JYOS) and held during Singapore International Energy Week (SIEW2024), the event gathered over 170 participants, including key industry leaders and representatives from ASEAN countries.

The session began with opening remarks by Carine Lespayandel, Executive Director of the French Chamber of Commerce, Her Excellency Minh-di Tang, Ambassador of France to Singapore, Mr. Chua Shun Loong, Assistant Chief Executive from Energy Market Authority and Mr. François Corbin, Special Representative of the French Minister for Europe and Foreign Affairs

This was followed by a panel discussion with distinguished experts:

Tina Loke, CEO at Air Liquide Singapore
Varun Gujral, CEO Asia Pacific at ENGIE Global Energy Management & Sales
Paul-Antoine Thiebot, Director, Head of Sustainable and Positive Impact Finance, Asia Pacific at SOCIETE GENERALE
Grégory Thomassin, Head of Business Development, Renewables, Asia Pacific at TotalEnergies

Moderated by Bruno de Pampelonne, Vice Chairman at Tikehau Capital, the panel covered critical topics such as the pivotal roles of ammonia and hydrogen in scaling renewable energy, advancing cross-border energy projects, carbon capture technologies, and innovative approaches to financing clean energy initiatives.

Key Takeaways from the Discussion (many thanks to the French Embassy):

1. The Cost of Emerging Technologies

While innovative technologies offer promising solutions, high costs remain a significant barrier to widespread adoption.
Public financial support is essential to kickstart these projects but should aim for self-sustainability in the long run.
Stakeholders emphasized the importance of integrated strategies for renewable energy projects, balancing profitability with decarbonization goals.
The role of investment banks was highlighted to advice on the bankability and the long-term project viability.

2. Infrastructure and the Role of the Public Sector

Technologies such as carbon capture, ammonia cracking, and low-carbon hydrogen are ready for deployment, but infrastructure gaps need to be addressed.
Participants stressed the importance of public-private partnerships and government policies to support infrastructure development and ensure long-term commitments.
Diversifying energy sources and balancing long- and short-term contracts can help mitigate risks in a volatile energy market.

3. Government-to-Government (G2G) Cooperation

Research cooperation was cited as essential for advancing innovation. The SCARCE Lab initiative between NTU and the CEA serves as an example of collaborative R&D efforts between France and Singapore in recycling and circular economy.
Regional regulatory cooperation will be crucial to reduce project risks, particularly for cross-border projects like the ASEAN Power Grid.
Countries such as Malaysia and the Philippines are adjusting their regulations to attract private investments, creating a more favorable business environment for renewable energy.
A clear vision on carbon pricing policies will be essential to encourage industries to adopt carbon capture solutions.
Regional coordination on policies will ensure competitiveness and alignment across countries, fostering a stable market environment for energy projects.

4. Opportunities for French Expertise in ASEAN

Mr. François Corbin emphasized France’s capacity to offer a comprehensive solution for energy transition projects, drawing on expertise in production, networks, financing, and regulation. French companies are well-positioned to contribute to the region’s transition through design, construction, and operational expertise across the entire energy value chain.
As highlighted, the ASEAN region presents significant opportunities due to its economic growth, integration in global value chains, and evolving regulatory frameworks.

The roundtable served as an excellent platform for sharing insights, fostering collaboration, and advancing the regional decarbonisation agenda. The conversation extended into the networking session, where participants continued to exchange ideas over cocktails and light refreshments.

A special thank you to our sponsors: Air Liquide, ENGIE, Societe Generale, Tikehau Capital, TotalEnergies.

For more information,please contact Emily Jiang: ejiang(@)fccsingapore.com