The Russian government just approved the use of new financing facilities with bonds issued through DOM.RF. DOM.RF is Russia’s housing and urban development corporation, established in 1997 by a decree of the Russian government to promote the development of the housing sector.
The proposed infrastructure bond was estimated to be around USD 32 million and would be used to build a school and a kindergarten in the city of Gubkinsky, Yamalo-Nenets Autonomous District.
The proposal was for the school to cater up to 400 students and the kindergarten would be able to cater up to 240 students. The project was estimated to be completed and operational by the end of 2024.
The infrastructure bond is part of the government’s plan to resettle more than 1,000 families that are living in emergency housing in Yamal, to a new district in Gubkinsky. The new district would be planned and constructed so that the residents could access most amenities by walking.
The masterplan called for the construction of more than 50,000 square metres of housing. The residential units would be handed over in three phases. The first residential unit was scheduled to be completed in the fourth quarter of 2022.
The Indonesia government is working together with their private sector counterparts to ensure that the palm cooking oil industry is resilient, by keeping prices affordable and producing sufficient quantities to serve the population’s needs.
The country produces a total production of 53 million tons of palm oil and derivatives product per year and then exports around 33.1 million tons of that stock per year.
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The government of the Philippines has recently organised a new expert panel to investigate the necessity for including climate indicators when reviewing government projects. Another significant KPI of the expert panel is to give localised data, particularly to local government units (LGUs) and to assist them in securing green finance, in addition to a number of other recommended action plans to alleviate the effect of climate-induced hazards in the country.
The following are the top ten risks identified by the expert panel:
1) biodiversity loss;
2) wind patterns;
3) climate-influenced illnesses;
4) extreme rainfall;
5) rising temperature and urban heat index;
6) extreme drought;
7) increasing frequency and severity of tropical cyclones;
8) floods;
9) coastal erosion; and
10) rising sea levels.
The government is concerned that the identified climate-related risks will force species migration and extinction as a result of habitat destruction, increase the frequency of pest and disease outbreaks, including non-communicable diseases, cause landslides and forest fires, threaten marine resources and cause shoreline erosion, exacerbate malnutrition, endanger coastal communities, and jeopardise the country’s food security and water sources.
Recent environmental studies have shown that changing environmental conditions have most impacted areas like Bulacan, Pampanga, Cavite and Metro Manila. The latest measurements showed that these areas have already experienced a rise in one to two metres of seawater and the government is worried that this might endanger the country’s water supplies and food security. Apart from this, the country has also expressed concern for tiny island settlements such as those who are currently living in Visayas, because these communities might have to evict from the islands due to rising seawater.
The Visayas, or the Visayan Islands, are one of the three principal geographical divisions of the Philippines, along with Luzon and Mindanao. Located in the central part of the archipelago, it consists of several islands, primarily surrounding the Visayan Sea, although the Visayas are also considered the northeast extremity of the entire Sulu Sea.
At the current World Conservation Congress in Marseille, members of the International Union for Conservation of Nature (IUCN) elected Razan Al Mubarak as the next President. IUCN Members also choose the Treasurer, Commission Chairs, and Regional Councilors for the organisation’s eight worldwide regions.
Africa, Meso and South America, North America and the Caribbean, South and East Asia, West Asia, Oceania, East Europe, North and Central Asia, and West Europe were also represented by 28 Regional Councilors. Regional Councilors function as IUCN ambassadors, representing the organization’s objectives and goals while also informing the Council about the interests and requirements of Members in their regions.
In addition, Mr Yoon Jong-So, Chairman of the Korean Committee of the World Union for the Conservation of Nature (also Former Vice Minister of Environment, was also elected as director of IUCN. By 2025, Mr Yoon will be taking part in the full operation of the World Nature Protection Federation, including passing resolutions on important environmental concerns and making decisions on ecosystem and biodiversity conservation.
Mr Yoon Jong-So’s entry into the board of directors of IUCN is indicative of developments of The World Union for Conservation of Nature and also on the cooperation of natural conservation in South and East Asia.
Delegates from the United Arab Emirates met with Indonesian counterparts to explore ways to strengthen trade and investment ties. Indonesia is one of eight countries with which the UAE is looking to establish a trade deal as part of the “Projects of the 50” program.
The Indonesian delegation was led by Ni Made Ayu Marthini, Director of Bilateral Negotiations at the Ministry of Trade, while the UAE delegation was led by Juma Al Kait, Assistant Undersecretary International Trade Affairs Sector, Ministry of Economy of the UAE.
They discussed a variety of regional and global problems, emphasising the importance of improved cooperation to promote sustainable development and expedite global economic recovery.
The group also discussed the potential of creating the Indonesia-UAE Comprehensive Economic Partnership Agreement together (IUAE CEPA). It will strengthen trade relations, increase economic and investment possibilities, and usher in a new age of bilateral cooperation.
The IUAE-CEPA negotiations were divided into ten working groups, which included trade in goods, trade in services, investment, provisions of origin of goods, customs procedures and trade facilitation, economic cooperation (including MSMEs), intellectual property, legal provisions and institutional issues, procurement of government goods, and halal and sharia economy.
The UAE’s historic bilateral relationship with Indonesia is based on deep cultural connections and a shared commitment to promoting greater economic growth and prosperity in both countries. The entire value of the UAE’s non-oil trade with Indonesia, for example, reached $2 billion in 2020, and the UAE hopes to considerably expand this trade value in the following years under the IUAE CEPA.
In the previous five years, the total amount of non-oil commerce between Indonesia and the UAE surpassed $11 billion, with the UAE accounting for $1.4 billion of that total. During the same year, aluminum and associated goods produced about $600 million, while re-exports from the UAE to Indonesia totaled nearly $1 billion.
According to current estimations, prospects to develop non-oil commerce are promising, with a $1.6 billion yearly growth potential in many industries such as jewelry, vegetable oil, vehicles and car parts, copper, rubber, and aluminum.
Recent announcements included the UAE investing $10 billion in the Indonesia Investment Authority in March 2021, the Indonesian government becoming the largest Sukuk issuer on Nasdaq Dubai in May 2019, and Masdar beginning construction on the world’s largest floating solar plant in Indonesia last month, demonstrating the strength of the UAE-Indonesia bilateral relationship. There were also long-standing cooperation in oil exploration, the halal food sector, green technologies, utilities, agriculture, and education.
On the last day of the conference, the two heads of delegation signed the Term of Reference (ToR) of the IUAE-CEPA Negotiations. The two delegations agreed to convene the second round of IUAE-CEPA talks in October 2021.
Indonesia continues to stimulate public interest in the usage of rooftop solar power plants as part of the country’s goal to reaching a renewable energy mix target of 23 percent by 2025.
The government has set a target of 3.6 GW of installed rooftop PV capacity by 2025 and this should result in the reduction in coal consumption by about 3 million tons per year.
After careful considerations, the country’s administration has decided to open up options for individuals to obtain power from renewable energy sources and contribute to the reduction of greenhouse gas emissions (GHG).
PT Perusahaan Listrik Negara (Persero) which is an Indonesian government-owned corporation and generates the majority of the country’s electrical power, produced a report that stated the power exported by solar rooftop consumers to PLN, is only about 25 percent, with the industrial sector contributing about 5 to 10 percent of the energy produced by solar roofs.
One of the key changes in the policy is to allow solar rooftop consumers up to 100 percent of the power export by solar rooftops to PLN. We believe that this new policy change will help to incentive consumers to install solar rooftops.
The new policy change is expected to create around 100,000 new jobs in the renewable sector and should require new investments of up to USD 3 billions for the physical developments of solar rooftops.
There are concerns about reduction in revenue for the government-owned electricity generation corporation if the changes in policy spark new consumer behavior. Current estimates hold the potential losses at about USD 350 millions per year but the government is working with the industry to handle this issue.
The United Nations Population Funds (UNFPA), together with support from Japan, will be working closely with Indonesia to uplift women and the vulnerable population, whose living conditions might be negatively impacted by the ongoing Covid-19 pandemic.
Certain segments of the population were more likely to be affected, such as people with existing medical conditions, the elderly, the differently-abled as well as women. The people within the vulnerable group could be facing issues such as violence, lack of medical services amongst others. As such, the Japan-UNFPA-Indonesia project aims to help this group with the handling and prevention of violence and also ensure ready access to integrated medical services.
Additionally, the Indonesian government reaffirmed its commitment to preventing harmful practices against women and children (including child marriages), proper family planning and reducing preventable maternal deaths. The efforts are reportedly in line with their Healthy and Prosperous Life pillar of the Sustainable Development Goal 5.
The project would be funded with around USD$ 2.8 million through UNFPA from the Government of Japan.
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In the recent unveiling of Japan’s Green Growth Strategy, the country outlined clear goals to achieve the decarbonisation of electric power generation and to promote the concept of a smart decarbonised society. This was to ensure that the country is aligned to support Japan’s 2050 carbon neutral goal.
Further to this, the country’s policy teams had deliberated over the finer points of their future strategy and established a set of actionable strategies to tackle several possible future outcomes.
In one of the possible scenarios, it was estimated that the development of digital infrastructure would not be able to keep pace with the increasing use of smartphones and personal computers.
On top of this, it was noted that there was a rapid increase of data transfer in a fairly short period of time and there could be a high chance that this trend would persist far into the future. Simulated models forecasted that the information load could increase by more than 3500% if the trend continues for the next 9 to 11 years and this could result in a data-explosion situation.
The development of machine learning and other subsets of Artificial Intelligence might accelerate the trend as these capabilities consume large amount of resources. As such, the country has concretised a series of strategies to systematically and rapidly dissolve the potential risks.
With this in place, the country now aims to reduce the information delay with low-latency technology so that data could be utilised in real time. They also determined that this would further establish the country as the digital hub of the future and attract more companies to set up business.
Apart from attracting foreign companies, the country is also paying significant attention to the development of climate-resilient and green data centres plus the establishment of a strong food roadmap.
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A geothermal heat pump or ground source heat pump has higher efficiency when compared to furnaces, electrical heating, or even air source heat pumps, and especially useful for heating and electricity generation purposes.
Before one can built geothermal power plant, the operator will have to perform geothermal exploration to determine possible operation sites. Exploration techniques include drilling, trenching, etc. Drillings or trenching are usually performed to identify potential spots for the siting of geothermal power plants.
Drilling is usually more expensive than trenching. While trenching typically costs about USD$7.50 to USD$15 per metre, drilling a vertical loop can cost from USD$15 to USD$46.5 per metre. In some cases, the vertical loop cost even extends to about USD$90 per metre. The cost of drilling also differs from country to country.
Indonesia is committed to improving its renewable energy (RE) mix in order to support the Paris Agreement. Indonesia’s RE mix target in 2025 is set at 23%. However, according to the Minister of Energy and Mineral Resources presentation for the House of Representatives, the achievement currently stands at about 11.2%.
The country’s plan is to form a geothermal holding company and it involves three state-owned companies, namely PT Pertamina Geothermal Energy, PT Geo Dipa Energi, and PT PLN Geothermal.
The holding company’s establishment aims to support the government target of installing a 7,000 MW geothermal power plant in 2030 and another 9,000 MW one in 2045.
Further to this, the country also wants to attract other investors to the renewable energy business landscape. There’s a common understanding among the top officials that geothermal exploration activities are high-risk activities and most losses are due to failed exploration.
This is also why electricity that is generated from geothermal power plant, is priced higher compared to the average price of electricity.
As such, Indonesia is looking forward to step up their game to attract more investors into this field of renewable energy and they will try to do this by undertaking the exploration of geothermal spots.
By doing so, they would be able to transfer the risk to the government. The data from the exploration could then be accessed by potential investors for an informed decision.
The administration is already experimenting on one site, and is expected to do more if results are favourable.
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The country has increasingly been paying more attention to its construction and real estate development sector and this can be seen by the country’s recent strategic plan for sustainable urban development.
The plan outlined key ideas for all related agencies to do even more with their whole-of-system approach to urban development, housing development and the real estate market, with a strong focus on providing affordable housing.
Key agencies were also encouraged to look into decentralising construction management with innovative mindset and technology so that construction works could scale up in pace while maintaining high quality. In addition, the country is also exploring ways to control its real estate market now.
Apart from this, the Prime Minister also suggested for the agencies to consider changing their ways of thinking by adopting a long term approach to planning, sound leadership succession plans for local agencies, leveraging advanced building materials and digital tools, etc.
Related agencies were tasked to build and develop the urban development, construction and real estate sector and also to encourage more Vietnamese to help the country to achieve these goals.
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Terra Link Research 