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News, November 2022
G20 Leaders' Summit in Indonesia Focuses on the Theme, Recover Together, Recover Stronger,15-16 November 2022
Bali, Jakarta Raya, Indonesia
G20 Leaders’ Summit focuses on the theme, ‘Recover Together, Recover Stronger
15-16 November 2022, Bali, Jakarta Raya, Indonesia
The 17th Group of 20 (G20) Heads of State and Government Summit will take place in October 2022 in Bali, Indonesia. Under the Indonesian Presidency, the G20 in 2022 will focus on the theme, ‘Recover Together, Recover Stronger’.
The Leaders’ Summit is the climax of the G20 process and the intense work carried out over the year through Ministerial Meetings, Working Groups, and Engagement Groups.
Recognizing the impact of the COVID-19 pandemic on every aspect of society and many countries’ lack of capacity to address the crisis, the Indonesian Presidency will focus on three main pillars for its G20 2022 Presidency:
global health architecture; sustainable energy transition; and digital transformation.
Through these pillars, Indonesia aims to continue leading on ensuring equitable access to COVID-19 vaccines, promoting sustainable and inclusive economic development through participation of micro-, small and medium-sized enterprises (MSMEs), and digital economy.
The G20 is made up of 19 countries and the European Union. The 19 countries are Argentina, Australia, Brazil, Canada, China, Germany, France, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, the Russian Federation, Saudi Arabia, South Africa, Turkey, the UK, and the US.
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G20 Energy Ministers Envision Joint Commitment on Energy Transition Acceleration at the Bali Summit
November 10, 2022 by kenny
Denpasar, 8 November, 2022 – The G20 Energy Ministers expect the energy transition acceleration to become a joint commitment included in one of the declaration points at the G20 Summit in Bali on November 15—16, 2022. It will serve as part of the key solution to address the current ongoing global energy crisis.
It was revealed by the Senior Advisor on Strategic Planning Division of the Ministry of Energy and Mineral Resources Yudo Dwinanda Priaadi, at an online press conference on #G20updates, Tuesday (8/11/2022).
“The G20 countries have agreed to accelerate energy transition including to ensure achievement of the sustainable global development targets by 2030, particularly on the access to reliable, sustainable, and affordable modern energy for all,” Yudo said.
Yudo explained that the G20 Energy Ministers had agreed on the “Bali Compact”, which is the result of the Energy Transitions Ministerial Meeting (ETMM) held in Bali, September 2022. Containing nine principles, the Bali Compact serves as a significant part in the energy transition acceleration.
Furthermore, he explained that during the Bali meeting, all Energy Ministers had agreed to conduct the energy transition process without leaving anyone behind. Despite the differences on their respective countries’ situations and conditions, they all agreed to reach the global targets.
The countries underlined the importance of the development of innovative and affordable technology to support the energy transition, including the significance of collaboration in transfer of knowledge and technology innovation. They also concurred to stimulate more investments and to encourage fund transfer to developing countries regarding energy transition acceleration as well as the importance to strengthen collaboration.
Further, Yudo added that the “Bali Compact” had a principle of energy transition acceleration by taking into account benefit for all with no one left behind during the process. It is also important to respect the differences in all country’s situations and conditions.
Those nine principles include strengthening trust and transparency in planning, execution, and evaluation at the national level; increasing energy resilience, market stability, and affordability; and securing energy supply, infrastructure, and resilient, sustainable, and reliable system.
The other principles are increasing energy efficiency implementation; diversifying energy systems and mix; and decreasing emission of all energy sources.
Next are catalyzing inclusive and sustainable investment from a large scale into a lower-emission energy system or Net Zero Emissions; collaborating in mobilizing all funding sources to reach the objectives of Sustainable Development Goals (SDG) 2030 Agenda and Paris Agreement.
The principles also comprise improving innovative, affordable, smart, low emission or Net Zero Emissions technology, and building and reinforcing innovative ecosystems to encourage related research, development, demonstration, dissemination, and implementation.
According to Yudo, there are challenges to deal with in manifesting the energy transition, including technology and funding. “Budget is also a challenge”, he firmly stated.
He added that energy transition would require large funding, including those for accelerating the cease of operation of steam power plants (PLTU).
Technology mastery, project execution terms, and supporting industry preparedness in terms of technical or economical aspects add to the list of challenges to tackle.
Yudo added that to overcome these challenges, Indonesia attempts to make several breakthroughs, such as issuing Presidential Regulation Number 112 of 2022 concerning Acceleration of Renewable Energy Development for Electricity Supply.
The most vital breakthrough is the drafting of bill on new energy and renewable energy (EBET). The bill is aimed at providing a legal basis, strengthening institution and management, creating conducive investment environment, and renewable energy utilization for the development of the national economy industry. “The bill shall serve as a game changer to accelerate Indonesia’s energy transition,” concluded Yudo.
Symbol for World’s Optimism on SDGs Achievements in the G20 Summit
(Denpasar, November 8, 2022) – The Balinese people hope that all results of the G20 Summit in Bali will provide a way towards prosperity and harmony between humans and the universe. This hope is consistent with the G20 Gunungan or Kayon logo.
Gunungan, the leaf-shaped shadow puppet which symbolizes a mountain, is a symbol of life and the preservation of the universe. It also reflects the worldly people’s expectation for their future lives.
“The hope symbolized by the Gunungan logo is part of our efforts to support the achievement of the sustainable development goals (SDGs),” said Udayana University’s Professor and Lecturer of Cultural Literature Prof. Dr. I Nyoman Darma Putra, M.Litt, in Denpasar, Tuesday (Nov. 8) .
According to Darma, the slogan “Recover Together, Recover Stronger” sparks optimism for a bright future for the entire world nation to achieve the sustainable development goals (SDGs). “Of course, it includes Bali and Indonesia,” he said.
He added that results of this conference could contribute to the realization of the sustainable development goals (SDGs). A number of points which are related to the SDGs are social and economic development issues, including poverty, health, education, climate change, water, sanitation, energy, environment, and social justice.
For the Balinese people, the mountain in gunungan symbol can refer to the meaning of Wana Kerthi, which is to maintain the sanctity and sustainability of forests and mountains. Wana Kerthi literally means mountain-sea or nyegara gunung.
“It is a symbol of collaboration that determines the fertility of nature as a source of life for living things on this earth,” said Darma.
Gunungan is also considered a source of inspiration oriented to welfare and happiness of the universe. According to Chancellor of the Indonesian Arts Institute (ISI) Denpasar, Prof. Dr. I Wayan Adnyana SSn, MSn, the G20 Summit brings a great hope to the planet and its contents, while becoming a great historical momentum for the future of the world’s fate.
“Gunungan or kayon also refers to the shape of a mountain. Mountains are sources of volcanic energy, which can fertilize nature tremendously,” said Adnyana.
Gunungan, in the logo of the Indonesia’s G20 Presidency, represents the spirit and optimism of the Indonesian people, especially to recover from the pandemic and soon enter a new chapter of life.
The philosophy of Gunungan describes a symbol of life in the universe, the passage of time into a new chapter. The triangular shape of the gunungan symbolizes purwa, madya, and wasana, the cycle of life from beginning to end.
Gunungan also symbolizes the transition of performance in plays or stories about how humans struggle and make efforts to the course of their lives. The conical shape of gunungan also represents that all human power and efforts are submitted to the Almighty.
The Balinese people call gunungan in shadow puppet (wayang) shows kayon. Kayon is a symbol of the universe with all its contents which also connotes a mountain of natural preservation, culture, and ecosystems.
Kayon represents the symbol of nature in wayang. For Hindu belief, macro cosmically, the gunungan puppet being repeatedly spun by the puppeteer depicts the process of mixing objects into one in the creation of nature and its contents. These objects are called Panca Maha Bhuta, the elements or basic substances of nature and their contents.
The Panca Maha Bhuta are akasa, bayu, teja, apah, and perthiwi. An article written by I Made Sumarya in the 527th issue of Warta Hindu Dharma on November 2010 from the official website of PHDI (Parisada Hindu Dharma Indonesia or Indonesia’s Highest Council of the Hindu Religion) Bali, explains that the universe is composed of five basic elements of the Panca Maha Bhuta. However, the most dominant is perthiwi (stone) because stone is solid. However, water is also a dominant basic element of Panca.
The Sun is Teja, the Air is Akasa, Bayu, and so on. “Akasa’s dominant content causes the existence of something in the form of space to spread out. The dominant bayu content causes the existence of something in the form of motion or moving objects, the dominant apah content causes the existence of something in the form of a solid object,” wrote I Made Sumarya.
There may be more than one dominant content of Maha Bhuta elements in an object or natural content. For example, the dominant apah and prethiwi contents cause the existence of solid-liquid (viscous) form. Thus the presence of various natural contents is determined by the different contents of the Panca Maha Bhuta elements.
Panca Maha Bhuta, as the basic elements of the creation of the universe or Buana the Great principle, was created by causa prima (God Almighty) through the creation process. This creation is a combination between two principles: the principle of consciousness and maya, being vertically stratified, which play their role in determining the existence of the universe and its contents.
G20 Countries’ Synergy Contributes to Global Economy Recovery
November 7, 2022 by salinatri
(Jakarta, November 7, 2022) –
The meeting between the G20 countries which takes place in 2022 will be crucial in addressing the global economy’s ever-increasing challenges.
Amidst the challenges and difficulties faced, Indonesia’s G20 presidency provides a forum for dialogue, cooperation, and coordination of policy responses between countries to support recovery and maintain robust and balanced economic growth.
Countries are currently faced with continuously higher-than-expected inflation, tighter financial conditions, Russia’s conflict with Ukraine, the protracted COVID-19 pandemic, and a supply-demand imbalance further slows the global economic outlook.
The cost of living has been under pressure in many nations due to rising concerns about the price of food and energy, which has increased inflationary pressures. In addition, extreme weather brought on by climate change also puts the world economy at risk, and the shift to a greener economy is being hampered by growing energy costs.
Perry Warjiyo, the Governor of Bank Indonesia (BI), expressed his appreciation to the G20 participants for their initiatives. On Monday, November 7, 2022, he said in Jakarta, “Since the start of the presidency, the G20 has worked together to bring up major global issues and to deliver tangible and collaborative solutions to boost recovery.”
In keeping with that, the G20 Roadmap on Cross-Border Payments (CBP) implementation has made the payment system issue a significant topic of discussion. The goal is to achieve faster, cheaper, transparent, and inclusive cross-border payments because doing so will have significant positive effects on the global economy. Additionally, the exploration of Central Bank Digital Currency (CBDC) is aimed at facilitating this.
According to Bank Indonesia, the G20 leaders’ summit will offer direction, guidance, and market confidence for future economic prospects and the stability of the financial system. This is consistent with the G20 members’ reaffirmation of their commitment to calibrated, planned, and effectively communicated policies to support sustainable recovery and to lessen the scarring effects of pandemic and spillover impacts to support strong, sustainable, balanced, and inclusive growth.
This optimism is consistent with the domestic economy’s maintained performance, which results in an estimate of 4.5–5.3% economic growth in 2022. Strong export, increased private consumption and investment, as well as people’s purchasing power despite growing inflation contribute to the economy’s improvement.
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