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#AEBF25 | Day 3 - Industrial Decarbonisation: Net Zero Roadmap for the Steel Industry in ASEAN

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Summary: Industrial Decarbonization Net-Zero Roadmap for the Steel Industry in ASEAN

Core Theme

The ASEAN region faces a critical juncture in its industrial transformation, needing to chart a practical and inclusive pathway for its steel sector to achieve net-zero emissions while maintaining global competitiveness. This requires a coordinated effort involving technological adoption, policy alignment, and strategic financing.

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Allow me to introduce myself. My name is

Nati Adela Pangitan from ACE. On behalf

of the ASEAN Center for Energy, it is my

pleasure to welcome you to this parallel

session titled Industrial

Decarbonization Netzero Road Map for the

Steel Industry in Assean.

Today's discussion will explore one of

the most pivotal pillars of Asan's

industrial transformation. how we can

chart a practical and inclusive pathway

for the region steel sector to achieve

net zero emissions while remaining

competitive in the global economy. To

begin, we will have a scene setting

presentation titled shaping asen's

lowcarbon future the case for the

carbonizing steel. This presentation

will provide a regional overview of the

challenges and opportunities in

transitioning the steel industry towards

lowcarbon production and how innovation

and investment can drive this change.

Please join me in welcoming Mr. Daneski

Faleris presenting the ASEAN Center for

Yeah. Okay. Thank you so much Miss Adela

for your kind introductions.

Uh and yeah, good afternoon everyone uh

as team speakers and also participants.

My name is Dan Valeris and I'll be

delivering an overview of

decarbonizations of the steel industry

in Southeast Asia to provide some key

figures and what will be the pathway

towards uh decarbonized steel in the

futures and uh so maybe perhaps could

Okay, next.

Okay. Uh this is the outline of my

presentations. So uh first uh we'll

we'll discuss about the Assean demand in

energy in industry sector as a whole and

after that we uh dive deeper deeper into

the Assean steel production landscape

what who will be the the the main

producers what will be the the the

technological landscape in the futures

and we also discuss uh the our recently

published study NIO road map in

Indonesian in in Vietnam and at the end

of the sessions we will provide some

policy recommendations and also for

conclusions. Next,

so uh let's begin with the uh landscape

of the Assean uh energy dependent

industry sectors. So uh according to our

recently published uh uh publications of

Asia energy outlook 2024 uh it is

forecasted that in 2050 the energy

demand for industry will be tripled

compared to the 2022 figures and uh coal

still the dominant the dominance of the

energy carrier. So if we we zoom in uh

in the bottom graph uh we can see that

uh the iron and steel is there along

with the non-metallic uh minerals like

cement industry as the top energy uh

consumers in this region. So that

highlights the importance of

decarbonizing the iron and steel sectors

in this regions. And if we are to

decarbonize these sectors, of course, uh

there is a uh substantial efforts that

we need to collectively do as a regions

to reduce the coal consumptions and of

course this will lead to the greater use

of electricity, hydrogens and other uh

renewable uh energy. Next one. So where

does the steel uh industry in Asen

stands? So according to uh Southeast

Asia's uh steel instituted um in 2024

uh it is estimated that the productions

capacity of the steel is amounting to 78

billion ton per year and it is

forecasted that uh these figures will

rise to 184 by 2030 and but

unfortunately uh these additions in

capacity will be dominated with the

blast furnace and basic oxygen furnace

technologies which is high energy

intensity and there are some key drivers

of these additions of course like a cost

competitiveness abundant of high supply

uh but at the same time we are also

facing challenges is the regions uh the

most obvious one of the capacity util

utilizations so the number says that uh

the average utilizations uh of the steel

plant in this regions is around 60%

below a healthy level of 80% and uh We

are also still depending on the import

from uh other regions to uh fill the gap

of the unsatisfied specific products.

For example, there is a product mismatch

where many of our productions is long

products which is used for the

constructions where there is also an

increasing demand in uh in the flat

products which is used for

manufacturings and automotive sectors.

Next one.

And this is some rough figures uh on the

right side. On the left side, you can

see that of course Vietnam and Indonesia

are the lead are two leading countries

that produce steel. But there's also an

interesting figures on the right side

where uh you can see there is a China uh

still exports uh worldwide where you can

see on the top uh chart that Southeast

Asia is the main target for the export

uh from China and this also um uh

inflict another uh another uh uh

problems for for for us as a regions to

compete against the uh price uh cheap

price from China due to the economic skills.

And uh we recently published a net zero

road map for steel industry in Indonesia

and Vietnam where uh in our analysis we

follow the principle of the five

decarbonization pillars. So the first

one will be of course the material

efficiency and uh demand management

where uh we try to assess uh how

circularity material efficiency and

optimize design in constructions can

contribute to the reductions of the

steel demand as a whole and second one

the energy efficiency and

electrifications and uh of heating. So

actually there are uh many proven

technologies uh which have been there

for for decades which we can use we can

we can try to promote we can use to push

to be adopted in in uh in the current

existing steel plants and the third one

is fuel switchings and cleaner

electricity with the increased use of

natural gas instead of coal and

renewable energy. And the fourth pillar

is the main level of decarbonizations

according to our study where the

transitions of lowcarbon uh uh steel

making is the key to decarbonized these

sectors. Uh where uh according to our

study the scrapbased uh electric arc

furnace will be the main technologies

that we like to uh we like to achieve in

the next 20 30 years in this regions.

Well, at this at at the moment is still

dominated by uh blast furnace and basic

oxygen furnace. And last one, carbon

capture storage is our last resort to uh

reduce the emissions from the remaining

uh unabated uh CO2.

And in our study uh you can see on the

top charts is the trend of these steel

productions in Vietnam and Indonesia. So

the interesting part here is uh if you

can if you see if you look at the uh

left graph in Vietnam in the blue line

so there's a crude uh steel production.

So in the space of 10 years in Vietnam

there's an increase of crude

steel productions four times. So this

signals the increase of demands in steel

productions and same goes with

Indonesia. But unfortunately uh if you

look at the technology shares uh around

65 until 70% still uh use u energy

intensive technologies blast furnace and

basic oxygen furnace

and uh this is uh results of our study

how to decarbonize the steel sectors in

Vietnam. As I mentioned previously that

the technology shift uh to still making

a technology will be the main level of

decarbonizations followed by energy

efficiency and also uh electrifications

but I would like to emphasize that there

is no standalone uh solutions all of

this has to happen uh at the same time

in order to uh reach the net zero in 2016

2016

and I won't go into the details for each

pillars due to time limit so I will just

like I would like to highlight uh our

key uh pillars to the carbonized steel

sector. So you can see on the graph uh

on the screen that uh you know using the

blast furnace and basic oxygen furnace

will generate uh nearly two ton of CO2

per ton uh crude steel productions. But

if you compare to other technologies and

other options like the natural gas DRI

with uh electric arc furnace uh we can

get reductions until 50% but um and also

with if we simulate with the uh green

hydrogens it will go even lower below

1.2 too.

And yeah, this is another highlights uh

what will be the technology would like

in 2050 if we are to decarbonize the

steel sectors in this regions. Uh we can

see uh on the very right sides the net

zero scenarios the technology shares for

uh decarbonizing steel sectors in60 will

be dominated by the scrapbased EF or

electric arc furnace. So maybe uh the

scrap will not be available in the next

five but in 10 in the next five to 10

years but in the next 20 and 30 years

there will be uh plenty of scrap that we

can use to uh to be recycled to to to

make a steel from the from the electric furnace

furnace

and we did a bunch of analysis as well

about the uh levelized cost of steel. So

we compared two technologies the blast

furnace basic oxygen furnace compared to

scrap EF where the uh BF buff uh cost

component is is mainly coming from the

iron ore and also the fossil fuel while

the scrap base almost 70% cost uh is

attributed to the scrap material itself.

So uh this highlights the importance of

us al also to how we can try to promote

circularity and also to make the market

a scrap market in these regions more

formal with uh certifications harmonized

standard uh and regulations of course to

allow uh tradeoff scrap within within

these regions. So this will be main

important thing that we have to prepare

uh in order to achieve the scrapbased EF

in the future.

And this is also another interesting uh

s uh analysis here. We did analysis of

the hydrogen uh DRI uh with uh different

level of prices and also carbon prices

compared to the uh BFB technologies. So

it turns out um that it requires the

hydrogen's cost to be as low as $1 per

kilogram H2 with additional carbon

prices as slow as much as 50 uh $50 per

ton in order for uh this technology to

uh get to the cost parity with the BF

buff. So yeah uh the price of hydrogens

will be critical as well for for for us

to achieve the net zero in the future.

And if that figures is translated into

the users uh this is also another

interesting story. Uh let's say for the

automotive car automotive for cars one

car requires around

um 900 kilograms of steel. If that

translates into the green premium, it

will cost around 285

per car. And if you compare to total

cost car is 20,000. It's not nothing but

it's also that not that big actually.

And so uh what would be the action plan

for each country? Of course uh as I

mentions uh all of these solutions

should not be a standalone. It has to

happen altogether. From material

efficiency uh we need to uh use a

guideline for the construction steel

efficiency into green public procurement

for low carbon steel. We have to

redirect investment to AF uh fuel

switchings of course if we can uh push

incorporate renewable energy will be

great and energy efficiency and

electrifications through mandate of audits

audits

and there's also some potential uh call

of collaborative actions uh within these

regions. Uh the first one of course we

have to agree the definitions of green

steel. Uh what will be the scope? What

will be the boundaries of the green

steel that aligns with international

standards of course and data

availability and availability will also

be critical uh in order to ensure

disclosure and relability of the data

and the other thing that I have

highlighted previously is the scribe

market collection is standard. Um there

is an uh another standard outside there

like E3 and also uh EU 37 that we can

try to adopt and threat remedies. Uh

yeah we need to strengthen our market to

protect our market in this regions. uh

Malaysia has just lifted the uh anti

anti-dump dumping ban for steel uh

products from Vietnam and that's a great

way to uh strengthen our collaborations

and transition finance also will be

another issues that we need to tackle

and powering with re in the previous

station with uh as power grid and

crossber will also contribute highly to

decarbonize the seal uh in the future.

So I guess I'll stop there to save some

time. Thank you so much and look forward

to the discussion with panelists.

>> Thank you very much Mr. Dresci Faleris

for insightful presentations. We will

now proceed to our panel discussion

where distinguished experts will share

their perspective on how Asan can

transform its steel industry towards a

net zero future. It is my pleasure to

introduce our moderator Mr. Rio John

Peter Silonga, senior research analyst

for energy efficiency and conservations

at the Assean Center for Energy. Mr.

Thank you Adel for the introductions. Um

good afternoon everyone. Um first of all

again uh I'd like to welcome everyone's

to our parallel sessions on decarbon

industrial decarbonizations uh the net

zero road map for steel industry

um I'm Rio from the entrepreneia will be

uh happy to moderate these panel

sessions um as we can discuss how

actually um ASEAN

um is doing towards uh decarbonization

as mentioned um during the presentation

of Mr. done from the asense entrepreneur

still the cornerstone of the Asian

economic growth. Um

um and also uh showing the the global

trends markets that uh um sift towards

um carbon constraint uh trends.

Um so um this is actually um put ASEAN

in the critical jun juncture uh where

the decision made by ASEAN today will be

uh will be determining whether the ASEAN

seal industry will be um competitive and

also sustainable um in the future. So um

uh we will discuss uh what actually the

challenge of ASEAN in order to to align

with the the global trans market

including opportunities uh for us to

collaborate uh toward this

decarbonization efforts. Um

so this session will be featured with

our distinguished speakers. Um there are

four main speakers that we're going to

invite for this sessions. Some of them

will be joining uh with us online and

then we have actually actually two

speakers that will be able to join with

us offline is here. First uh I'd like to

introduce Miss Kajul. Uh she is joining

with us online. May I check? Um this

connection with Mr. Miss Kajul. Can you

hear us?

>> You good? >> Okay.

>> Okay. >> Everyone

>> Everyone

>> perfect. So she is the project manager

for the climate neutral industry

Southeast Asia at Agora industry

bringing a global and region I think we

expect uh C able to provide us uh global

perspective and also national perspect

uh regional perspective on industrial

decarbonizations and technology

readiness and with us here I think I'd

like to invite also to the podium uh Mr.

Mitch G um Galbber, CEO of the Malaysia

Green Building Council. Please come to

uh podium. Um please give him Yeah.

joining with me to welcome him. Um I

think we wish you to to bre to bring us

insight on how actually building and

constructions sector can drive market

demand on um on green and sustainable

steel uh in the region. And then uh also

with us here Mr. Julie Lee Jiari is also

joining me to welcome him on the on

stage. Uh he is the president of the

please [clears throat] he is the

president of Malaysian uh association of

energy service company. So um we we we

expect uh u Mr.

architect Julie uh uh Jahari um to share

with us the experience and also um um in

energy management esco business model

and also financing frameworks uh for

industrial uh decarbonizations uh

industry in particular and also joining

with us from from the steel producer

uh online uh Mr. Chad uh Rabbop Pontam

uh he is uh the ESG division manager uh

at the Cam Yamato Steel Company Limited

of Thailand. So let me check the um

connection with Mr. uh Chatab Chatab. Uh

can you hear us?

>> Yes, I I can hear you.

>> Perfect. Um so um

um let us uh open this uh discussions. I

think uh as I mentioned we will uh

particularly explore how Asan can lead

uh a just transition and also

competitive uh uh steel sectors um

through uh technology readiness,

coordinated action and also market

incentive and financial um mechanism.

Now to begin with our dialogues um I

think from the sin setting that

presented by uh my colleague Mr. done in

terms of the steel landscape and also

the road map. So maybe I like to open

the question to the all panelists that

you want to to respond as well. Um um

what should ASEA and um prior to today

to ensure the steel industry remains

globally competitive while we are

achieving our uh net zero ambitions. uh

perhaps uh from the speaker speaker

online also from our speakers here that

joining us uh in person also can um

I can start here

okay I must first declare that I'm I

don't I am a I'm an architect and I do

not really have the intricate um

information about the clean industry. So

I'll be talking things in general. Yeah.

So anyway

uh when the question is asked how do we

remain globally competitive ASEAN level.

Yeah. So when you talk about ASEAN level

I think what we want to know or we want

to achieve is that the steel product

from Assean is uh globally accepted.

Yeah. So it it it it is uh something

that uh we demand global market. So uh

whatever that was presented just now I

did not see uh you know uh the Assan

certification level where we can say

that our products are certified at a

global level and I think that is the

first thing that probably we'll have to

actually consider in order to gain the

attention of the international market to

get the green certificates of our steel

industry. Maybe there's existing ones

and but I know that if you want to have

that you also have to have this u uh

monitoring reporting and verification

uh uh system in place and so so if we

have this certification this u

monitoring verification

uh uh reporting and verification in

place then I think our products can uh

can be accepted that's the first thing

number do in order to remain

competitive. The most obvious thing of

course uh the reason why I'm invited

here so is because we need to embark in

all those technologies that was been uh

discussed just now whether it's heat

recovery or whether is hydrogen ready or

whether is process improvement and so on

in order to drive down production cost

as well as to drive down operational

fuel costs. Yeah. And finally, I think

what we need to do uh these things needs

financing and therefore you need to

somehow link financing this uh uh with

this green green technologies that we

want to introduce. So that is my take of

how in general we can remain competitive

and and capture the global market at

Asan level. Of course we have to talk

about the economics of scale where we

want to look into production at Asan

level. Thank you.

>> Thank you architect emphasizing uh how

we should embark the technologies that

has been presented and also um the rules

of certifications

um and also monitoring and verifications

very critical in order to uh keep our

steel industry keep competitive. Any

other respond from our speakers? Yeah, please.

please. Yeah.

Yeah.

Um Mr. Yeah. Um yeah, please Mr.

Yeah. If you have

>> I just want to add uh the

competitiveness right now for AAN steel

industry is being bombarded with the

Chinese imports

uh which of course um majorities is from

blast furnaces. So, so there needs to be

some sort of mechanism

uh such as uh in the EU they have the

the the Cban, right? uh if I can can

propose for for an Azan uh crossber

adjustment mechanism as well as uh

emissions trading scheme uh similarly to

the the EU uh but for the Azan

perspective uh these these sort of

things uh would would encourage steel

industries uh in in AAN to to go green.

Um uh so so there there needs to be some

some some uh regional mechanism as well

as the the the the mechanism from the

national members uh to to uh dictate uh

whether we want to have a green future

for coastal industries in Azen. Just now

Dan paints a picture of very scary that

that the there will be some more blast

furnaces appearing in Azan. But if the

member countries decides uh that there

should not be uh blasphes should be DRI

or should be EAF uh for for the future

of steel then then this this should be

um um considered as well. Yeah.

>> You Mr. Chab uh for your um perspective

on the on behalf of the um steel

producers in regions and in emphasizing

the importance of the regional

mechanism. Yeah, I think this is

something that we have been discussing

also to have such kind of regional

mechanisms and um platform in order to

discuss um yeah how actually the Assean

steel industry um will be able to be

competitive um looking the case of the

China uh for instance that has been said

by TAP as well. So um thank you. So I

think uh I like to move to the to the

key uh question key um topic that that

we we wish to discuss as well in this

platform in terms of the technology

readiness and reinvestment. So um again

um Mr. Chhatra pop um as you are

representing the industry perspective um

we able we wish you to to bring with us

also some uh on ground experiences in in

your company level sustainability and

also transition investment. Uh perhaps

uh we can share with us here with the

audience as well. Um actually how the

Cam Yamamato steel uh green steel uh

advancing the green steel uh product and

perhaps you can um emphasize what are

the key challenges and um opportunities

on um in technology and also financing

and what do you um what do you think uh

the policy makers should should be

supporting you um in these um efforts

please Mr.

Thank you.

>> Okay. So, uh from Syamato steel, uh we

are the steel uh steel mills in in

Thailand. Um so, our our main uh source

of energy is electricity because we we

operate uh only electric arc furnaces.

Um so, the energy uh that contributes to

our scope 2 emissions is is our main concern.

concern.

Uh so the first priority the steps that

we took was to um do energy efficiency

improvement projects and these we

arrange as a bottomup projects for our

staff and and this uh in uh including

the the the installation of solar uh

panels on rooftops lead to about 6%

reduction in our uh greenhouse gas emissions.

emissions.

Apart from that um we also take a look

at our scope one emissions which comes

from natural gas and our amphasite coke.

In terms of natural gas, we were able to

reduce uh our natural gas consumption

with the use of oxygen enriched fuels as

well as um forite coke, we are able to

switch to carbon black which comes from

recycled tires and we are also looking

into further into biiobased carbon such

as biomass and bioshar uh to further

reduce our recycled consumption. So in

the fast past five years altogether we

are able to reduce about 70% of our uh

greenhouse gas emissions and our target

is to reduce uh further to about 30%.

But this needs collaboration with the

government because as I mentioned

[clears throat] uh our main emission

comes from electricity. So if the grid

electricity uh the the emissions factors

uh that contribute to to our scope 2

emission is not reduced then then uh we

cannot do do anything about it you know

because um all our solar installation is

already uh covers about 90% of our

rooftops and uh our if if we are going

to uh uh do the the solar farms uh

elsewhere um the um the regulations for

for the transmission is not yet allowed

for third party access. So so these are

the obstacles that that uh are still we

still have uh with regards to reducing

our [clears throat] emissions. Uh so the

government tries tries to introduce uh

what is called the utility green tariff

uh on the green electricity. Uh

basically it says that um uh if you want

green electricity you have to pay a

premium. So, so not many industrial

users are willing to pay pay this

premium because uh the electricity that

uh the power consumers are using are

mostly off peak electricity which is

about 30 to 40% uh lower price than than

the utility green tariff electricity. Uh

so so this program is is not well

accepted by by the industrial users.

So, so yeah, so there there's a lot of

obstacles that that we still face uh

with our decarbonization uh program and

we are hopefully that uh government will

initiate some some actions to to to make

uh these obstacles uh less or reduced

here. Thank you.

>> Thank you um Mr. that um for sharing

with us very um um focused u information

um in terms of your efforts towards a

green steel um initiative. um I think be

it in terms of how you actually um

utilize renewable energy and and then

fuel switch switching to to be to to

towards more um environmental friendly

um um sources including you mentioned

about um the initiative of the

government that you think uh will should

be um should be encouraged in order to

support you on the green steel um effort

that they're doing you know so um yeah

thank you I'd like to maybe as a

follow-up questions to the efforts that

has been um shared with us from the um

Mr. Chhat Chatarrap. Um perhaps I like

to ask our speakers Miss Kajul who is

joining joining joining with us online.

Um I think um we noted that um from the

presentation from Mr. done also propo

proposing such such technology that uh

Asan steel industry can embark and also

um from the effort uh on the on the

steel industry in in Asan region to to

to look into the technology that might

be um as as uh way of uh supporting them

towards more green steel industry. So

how do you think um from your

perspective as can balance shortterm

energy efficient and long-term with

long-term technologies such as hydrogens

and CCUs as a as a technology options

towards a green uh steel industry and I

mean looking into the situations of the

diverse situation of Asan member state

how do you think um ASEAN member state

this strategy um into their um different

levels of readiness. Mr. Miss Kaj uh please

please

>> thank you. Thank you Mr. Rayo that I

think that's a very good question when

we are looking at you know um choosing

the smart practical path between the

short-term wins and the big risk bets.

Um this is exactly the strategic

trade-off that policy makers must

manage. I would like to make three

practical points here. Uh of course this

is also based upon the research that we

have done which quite aligns with the

presentation that Dan made. Um I think

it was a fantastic presentation which

gives a very clear picture around that.

Um the first we need to start with the

fundamentals I guess the energy

efficiency, resource efficiency,

circularity are the base blocks and they

are the main and the continuing um

happening entities are the operations

that we have to always have in

industries to keep competitiveness and

to be reducing our emissions. So these

are like a no regret measures that lower

the cost and also reduces the energy

demand and improve the competitiveness.

They also optimize the need for the new

renewables. So we know like how much

renewables are actually required or how

much we need to build up. Um because

this requirement for the green hydrogen

would require to have us a huge amount

of the renewable bases uh if we want to

keep the green hydrogen production in a

house otherwise we have to depend a lot

on the you know getting the hydrogen

from outside. So if we have to do that

we have to create that whole ecosystem.

So that becomes as a very important that

how do we accelerate the renewable

energy. So I hear from the previous

session also just before our session

started there was a lot of conversation

going on on the renewables. So how do we

accelerate the renewables as well? I

guess that's the another very important

point and uh my previous speaker also

raised like how do we reduces those

blockages which are there for the

renewables adoptation by the private

sector by these industries. So having

the corporate PPAs or you know those

becomes like a building blocks for all

of that. So those would definitely be

remains there and we need good policies

around it. And the second most important

is to stop the lock in into the bad

bets. We have been investing quite a lot

in the last couple of decades in the

coal based glass furnaces. So how do we

take that strong and a bolder decision

to stop all these buildup of a new coal

based blast furnaces investment? In fact

these new blast furnaces capacity risk

both the stranded assets and also deepen

our over capacity issue.

So we have to be like taking a very

strong uh bold decision over there. It's

financially and environmentally counter

uh productive if we don't take that. uh

rather I would say what you have also

been emphasizing a regional restraint

here is more powerful lever so how

coordinated we can go as a coordinated

effort on halting these investments

which can go again in the coal based uh

blast furnaces the second and the third

would be then we must use this fleet

timing most of the fleets that we have

is a pretty young fleet and in the next

decade they would be coming for relining

or major maintenance. So how do we use

that critical window of uh the next

decade to increase our um investment

into the H2DRI and in the next 10 years

as also from the presentation we see

that that is a time when we would have

the start of the availability of the

scrap the availability of the hydrogen

price will be more um we can we can

assume that it's going to be more

competitive so rather than simply

refurbishing the fossil heavy plants

align the policies incentive in finances

that are more alternative or

attractively more attractive towards the

hydrogen ecosystem creation getting

gradually increasing our electric arc

furnaces doing some pilots on the H2DRI

to create more of the trust within the

industries and also to be have like a

more transparency we need to collaborate

at each level so simultaneously

preparing the environment for hydrogen

and other transformative technologies is

having the standards and the MRV the

pilot hub the optic engra uh

arrangements and the blended finance I

think that would be the definite levers

if we want the industry to be leaner and

cleaner today and structurally also

preparing them for tomorrow

>> I'll stop you

>> thank you um majel um your perspective I

think you noted on how actually um we

should um avoid the um um blocking

diagram for uh sorry a blocking block

for the renewable energy and also to to

restrict uh more stringent on the um

fossil be used fossil based um um

sources of the um furnace including you

mentioned the how actually the key key

pilot uh pilot project for DR is also

key in order to um to to move towards

more green technology for steel

industry. Um thank you. Um I'll back to

you uh later again. Um let's us moving

to to the market demand perspective. I

think we have here our speaker from

green build Malaysia green building

council that as I mentioned we expect

can bring uh perspective on uh how to

create demand because it's um I think um

we we noted that still demand in Asian

is rising due to the infrastructure and

urban development yet um I mean the

global steel and construction sector

face high risk from over capacity and

also cost cause pressures as mentioned

uh from our uh since setting

presentations. So um as the

representative from Malaysia uh green

building council Mr. Mitch Kilber um can

you uh provide us your perspective how

actually Malaysia building and

construction sectors through certificate

system green perform mentioned by

architect Jul as well very key towards a

more competitive steel industry and also

possible regional harmonization of

standard help to um to drive stronger

demand for low carbon and sustainable

steel uh across the building and

construction sectors in Asan Neimalia.

>> thank you very much. Uh I think from a

demand side the uh the challenges and

solutions are pretty straightforward. Uh

refreshingly uh it's a a lot of the

issue just has to do with transparency.

uh we have already in the industry

mechanisms uh for environmental product

declarations which cross cut across

industries um EPDS the declaration of

the environmental impact of materials

that go into uh construction and and

building are uh transport transparent

they're crossborder and they create a um

uh a leveling effect which also

potentially addresses issues of

competitiveness for ASEAN on with faces

threats from other regions uh uh steel

imports or steel uh supply from other

regions. Uh increasing the transparency

of our domestic uh production uh creates

a really powerful tool for uh um

accelerating the influence of demand

side. Um having steel products that go

into uh automotive industry, building

industry uh be transparent and uh

declared um uh allows market forces to

take effect where we can evaluate uh

like to like on what's the environmental

impact of one material versus versus

another. Um and I think this also then

uh uh compounds just basic uh economic

transformation. You know what we're

having here from a uh on a higher level

is not so much an environmental

transformation or em reduction of

greenhouse gas emissions but a

technological transformation uh

fundamental change of how our energy

sector is functioning. Uh fossil fuels

are expensive relative to renewables.

And so the longer that industries uh use

legacy energy products and processes uh

the less competitive our industry, our

steel industry is going to be uh

globally. The faster we can transition

to electrification predicated on cheap

uh plentiful renewable energy, the more

competitive our uh national and regional

industries will be uh global globally.

Uh so that's already the case in 2025.

Um it's uh we're hearing about the some

of the blockers. The good thing about a

blocker is that implies momentum is

moving clearly in one direction. It's

much easier to uh remove a blocker than

it is to push a boulder up a hill. uh

and when it comes to decarbonization of

steel uh and uh our regional industrial

sectors the momentum is clearly rolling

in in one direction.

>> Thank you. Um thank you Mich. I think

you're emphasizing the importance of

transparency. I think yeah data also

something that we we seems very

challenging in all six. Yeah,

>> I sorry one last thing I forgot to

mention is that we don't really need to

introduce new certifications, new

mechanisms. We already have the

mechanisms and the mechanisms are

declaration. Uh we have international

standards for uh measuring uh the

environmental impact, the energy use,

the emissions for products. Uh and we

regionally adhere to those those

standards. We don't need to all create

10 different standards for steel in 10

different countries.

>> You know, those EPDs cross borders. And

so if the end products are um all

validated with a uh uh public decoration

of what the impact of this material is,

um it it helps uh facilitate that

regional um uh collaboration and coordination.

coordination.

>> Yeah, thank you for sharing the

perspective. So a followup question

maybe um I mean if you aware of the

sustain um sorry Malaysian steel

industrial uh ind steel industrial is IR

2035. So how do you think from your

perspective this is actually will be

able to drive environmental and also

change and lowcarbon materials for

steel. Yeah. So the road map's

relatively new. It was just I think last

month. So I can't speak necessarily to

the uh the um uh the details uh or

particular items. Uh but in general I

think the the major impact is that this

these aren't challenges that can be

achieved by one sector working in isolation.

isolation.

uh the in Malaysia the bulk of our steel

industry is already uh electric arc

furnace. The emissions are tied directly

to the electrification and the carbon

factor of our national grid. So

upgrading our grid, transitioning to

renewables as quickly as possible um is

not just environmental imperative, it's

economic imperative.

uh the you know what I tell our members

and what we see from our manufacturing

sector that the sun doesn't charge us a

bill for electricity you know this is

for the first time in human history

access to cheap limitless power from uh

from the sun uh in other parts of the

world from the wind um and the faster we

can transition it's a decoupling of our

industrial processes from energy as a commodity

commodity

to energy as a limitless uh uh cheap um

uh uh source. So we we in Malaysia in

ASEAN we see we in different countries

we have uh health uh hospitals is a

human right we have housing we have

education as a human right for the first

time we're seeing glimmers of cheap

plentiful energy that is uh a human

right because by decoupling from fossil

fuels the en the way that we use energy

the way that we think of energy is

changing um so I I think it's the faster

we can uh use uh national policies uh

incorporate uh energy transition into

our our national futures and our

regional f our collective futures the

the sooner we can tap into that changing

uh economic reality.

>> Thank you. Interesting uh point of view

of how we going to decoupling the energy

use in order to change also the the way

of we think of thinking uh using the

energy. I think that's that's thank you

um for the perspective. So uh allow me

to um move to our um key topics uh

discussion on the regional policy

alignment um and how actually we're

going to to turn the challenges into

opportunity opportunities by by um uh

developing a supportive um um policy

alignment. Um I'd like to get back to Mr.

Mr.

Chhatraop Chhatraop. uh Pontam from

Samya Mamato steel. Um I think asan

steel producers uh facing growing trade

pressures and upcoming carbon broader

adjustment mechanism. I think this is

related to the externality um CBA such

as how actually um do you think uh um

the region maybe in the context of your

company um turn this challenge into

opportunities? perhaps um you can share

with us your perspective. Thank you.

>> Yep. Um

uh let's talk about CBAN because we we

are also exporting uh to to uh countries

in Europe. Um currently they they're in

the transition stage and so um we are

required only for um a report self

certificate uh self self-certified reports

reports

but uh come January uh this will be a

full uh CBAN [clears throat] in which

the the the rules are not yet clear on

uh such as uh how they are going to have

the third party verification uh done.

Currently they they haven't yet uh

announced any uh companies who will be

the third party verifier in Thailand or

in in even in Gaza. I think not a single

company is uh currently being accepted

by EU as a third party verifier.

Um the the rules about the the how often

do you have to audit uh is not yet

clear. uh we've been asking to to the

government sector in Thailand uh

especially the to the department of uh

uh foreign trade on on whether the rules

are are you know being uh negotiated uh

between Thailand and EU or not. Uh so so

this is not yet finalized.

So there there are a lot of things that

we are not ready for uh in terms of CBAM

uh starting January the 1. Luckily,

there has been announcement that the the

carbon avoidant mechanism will be a

little bit postponed to to be February

of 2027,

but it will be backtracked back to to

January uh the 1st of of 2026.

So, so we're still waiting for

clarification on the rules. Um so so as

as as I think about the how Azin could

collaborate, I think Azen as a whole

could could have a more bargaining power

with EU on the the clarification of the

rules and regulations in in in the CBAN

mechanism. Yeah.

>> Um yeah, thank you. I do agree. I think

um how actually asan um regional

collaborations is is also critical in

that we can actually um turn the

challenges related to C bumps into

opportunities. But um as a follow-up

question I think um as mentioned by

architect Joel Joel uh Joel Joel Keifley

as well um certifications also is a key

in order to drive our steel uh sectors

towards more green products. So how do

you think um Asan should prioritize um

maybe your perspective on the ideas of

to harmonize the instilled product in

Asan um including the standard and

certification that will be

>> able to support your trade um trade mechanism

mechanism

for low car. I sort of agree with Mitch

uh comments uh in the beginning um that

we do not need a new standard.

uh the uh EPD uh is currently uh being

accepted uh globally as a a way to

calculate uh the the um global warming

potential and the global warming

potential is being accepted uh by uh

green uh building uh councils around the

world uh such as the lead uh version

five who use the global warming

potential as the baseline uh to to

calculate the the the embodied carbons

of buildings. So, so um I'm not sure

that we need a new uh method to

calculate but we do need to agree on

what is the definition of a green steel.

Um so far the world steel association

has not yet uh uh come up with a clear

definition of what is uh green steel

because uh there are discrepancies

between blaspherous producers and the

electric arc producers. you know, the

the the blast runner says, "Oh, a 1.8

uh ton CO2 is already considered green,

while the the electric arc says, oh, I'm

producing at about 500 kilos or 600

[clears throat] kilos of of CO2 and and

this is normal for us." Uh so, so there

hasn't been yet a consensus of what is

con constitute steel. uh in Singapore

the the green building uh council uh has

come up with the the certification

method uh called the green uh Singapore

green building product certification >> [clears throat]

>> [clears throat]

>> uh in which steel for steel uh in order

to get the four star or four ticks you

have to have uh uh the both uh the

embedded emissions of not more than 900

kilograms. So so we we also follow that

one. Uh so so for Azen I I think we we

need to agree on what is uh the

definition of of green steel uh on uh

the embodied carbon what what what is

the limit uh that we should take. Of

course there will be uh discrepancies

between uh blast furnaces and and

electric arc furnaces that that will

pose some difficulties in coming up with

a a clean clear definition.

>> Yeah, thank you. I do agree with you. I

think asan should be looking at a common

definition of what actually um green

steel associated with it. I think yeah

this is something that we I think

something that we're going to prioritize

to be to be um to be discussed in order

to to um drive the green steel uh

sectors um in the region. Um but um just

a just a follow of question from um our

colleagues from um uh Thailand still

producers maybe um because we have here

here from Malaysian perspect Malaysian

speakers um so I think mentioned by um

our our speakers that EPD is critical

tools maybe um um but there is a

challenge in terms of the data database

so um so um what do you think maybe mr

and also architect Joel do you think

asan uh consider to harmonize the

database uh for the green product

whether this is actually been

prioritized and emphasized under the

sustainable steel uh sorry steel

industry road map uh 2035 of Malaysia.

Yeah. Um maybe Michel later you can also

respond to the EPD um database as well.

Yeah. is

>> well I think why we establish ASEAN is

to try and see how much common grounds

we can have in order to promote our

economic uh our economic development.

Yeah. And to probably uh reduce the

disparity gap between our our fellow

countries within ASEAN. So if we can

actually come up with a consensus on

what whatever that needs to be to be

agreed upon or whether it's green or

whether it is uh you know uh need

needing a certification or not. The

whole idea is to get the products

accepted and we are looking into getting

into the global market. So if there is

no requirement then fine then we just

drive our price down and make sure that

our products are uh exported as much as

possible but otherwise you know if there

is a requirement and I do believe we are

we will head towards that direction and

when you talk about this cross cross border

border

adjustment mechanism and so on that is

required by the financing companies it

is required by compliance and things

like that. Probably it will come if not

now but is is good for us to prepare for

the future because I think it's critical

for Assean to come together uh to to to

produce uh and make a big voice of

ourselves in order to negotiate

uh as one one center. Yeah.

>> Thank you. Maybe we

>> I think uh to just to add on I think the

uh the harmonization the value of ASEAN

is as a trading block but it's also as

uh knowledge exchange um we have uh uh

tremendous amount of diversity diversity

in the size of our economies the uh

regional uh geographic uh proclivities

you know from our experience in building

construction sector one of the greatest

values of these regional networks is the crossber

crossber

um you know not just crossber uh

disclosure uh but crossber knowledge

exchange uh we learn from each other's

uh challenges we learn from each other's

solutions and in building construction

sector we've seen this um uh yield

benefits again and again and solutions

that are applicable in Singapore are not

necessarily applicable in Malaysia and

vice versa but we learn from from each

other. Uh we learn from uh uh that

knowledge exchange may not always be

onetoone but it's always a source of

inspiration and looking to each other uh

to work together to find common

solutions uh is is extremely powerful.

Um so I I don't know if we need uh uh

you know crossber mechanism in

particular in ASEAN. Um but working

together uh we all have the challenge of

working with uh to export our products

to other parts of the world. Um learning

from each other, working with each other

to reduce some of those barriers

collectively um is to the benefit of all

of us.

>> Thank you. Um so it's not only about um

crossber disclosure but also um cross um

regional um exchange of knowledge and

information. So critical. So um I think

I'd like to move to our key topic

discussion on the finance mechanism as

one of the aspect also um u driver

enabling enabler also for steel sector

to to embark with the techn the green

technologies that we have presented. Um

so M architect Julik as you are the

president of the MYCO of Malaysia. So

how do you think ESCO business model

play a critical roles in order to

support uh steel sectors to

decarbonization? Well, the definition of

an esco is an entity that can provide a

turnkey solution

>> to facility or industries or commercial

sector whereby he can provide uh uh you

know uh introduce technology and capital

in order to reduce operational cost and

find energy cost and at this same time

of course address the sustainable goals

of the the company involved. So uh

generally where financing model is

concerned uh the escos uh practice what

you call energy performance contracting

model whereby it's either zero upfront

cost or shed saving the first one is

called shed saving the others is uh

guaranteed savings. So in 2000 to 2007

there was a project called the Malaysian

Industrial Energy Efficiency Improvement

Project which was done by UNDP andGF

and at that time our tariff was merely

onethird of what it is today. Yeah. And

we tackled the steel industry many steel

industries cement uh camic uh pment

paper wood and so on. And even during

those days when we did the industrial

audit we found that many measures can be

done uh in the absence of today's

technology such that the returns of

investments of the measures done uh can

achieve less than three years a simple

payback period

uh that that includes the steel industry

and I still have 48 audits uh in my

office to prove that. So therefore uh uh

what we need to know is you know uh uh

we need to really audit our our

ourselves uh and when and in Malaysia we

have just introduced a new act called

the NG efficiency and uh conservation

act whereby every entity that's affected

by this act which uses two 21,600 goules

per here. We'll have to do mandatory

audits. We'll have to engage uh uh

registered energy managers. We'll have

to do annual reporting

uh and also have an energy man

management system in place

uh and and and this will of course uh

help in Malaysia's energy transition

road map which targets of course net

zero by 2050 as well. So uh generally the ESCOS concept is to

So uh generally the ESCOS concept is to be a mediator with the banks. The ESCOS

be a mediator with the banks. The ESCOS also arranges for the financing and of

also arranges for the financing and of course if the uh the uh client prefers

course if the uh the uh client prefers to take the loan on their balance sheet

to take the loan on their balance sheet then they are welcome to do so. uh and

then they are welcome to do so. uh and uh the ESCO will just provide the

uh the ESCO will just provide the guaranteed savings meaning to say if

guaranteed savings meaning to say if there's a shortfall in saving the

there's a shortfall in saving the exposure to the difference would be the

exposure to the difference would be the liability of the school. The others

liability of the school. The others concept is that if there is a saving say

concept is that if there is a saving say 40% or 30% then the model says that over

40% or 30% then the model says that over a period of time we can share the saving

a period of time we can share the saving after after which the contract expires

after after which the contract expires the full saving will be at the benefit

the full saving will be at the benefit of the uh the client that that uh that

of the uh the client that that uh that the esco has served. Yeah.

the esco has served. Yeah. >> Yeah. Thank you. So um it is actually

>> Yeah. Thank you. So um it is actually indeed um esco business model. because

indeed um esco business model. because still has a some economic benefits in

still has a some economic benefits in steel sectors. Thank you. Um so I think

steel sectors. Thank you. Um so I think as a class uh closing um um question I

as a class uh closing um um question I think because we have a li limited time

think because we have a li limited time apologize for that. Um um I don't want

apologize for that. Um um I don't want to prolong your lunch because it's now

to prolong your lunch because it's now it's in within the lunch time. So um

it's in within the lunch time. So um just a very closing round uh question to

just a very closing round uh question to all speakers here. I think um because

all speakers here. I think um because we've been discussing about Assean

we've been discussing about Assean context um looking to case of Thailand

context um looking to case of Thailand or Somala. So if asan were to develop is

or Somala. So if asan were to develop is our regional road map on greenstone road

our regional road map on greenstone road map I think um I like to get your

map I think um I like to get your perspective very what should we

perspective very what should we prioritize in terms of technology

prioritize in terms of technology financing and standard and how we can

financing and standard and how we can actually learn from the national um

actually learn from the national um steel industry development maybe I can

steel industry development maybe I can start from our speakers joining online

start from our speakers joining online with us maybe from Miss Kajul and then

with us maybe from Miss Kajul and then followed by Mr. Kaj uh yeah from our uh

followed by Mr. Kaj uh yeah from our uh producer still producer please Mr. Kaj

producer still producer please Mr. Kaj >> Sure. Um, thanks thanks Mr. Rio. I think

>> Sure. Um, thanks thanks Mr. Rio. I think from my point of view and my

from my point of view and my perspective, if Azan were to develop a

perspective, if Azan were to develop a regional uh green steel road map, I

regional uh green steel road map, I would put the standards and market

would put the standards and market enabling instrument, the demand side

enabling instrument, the demand side instrument as the top priority for the

instrument as the top priority for the next five year. We need a more aligned

next five year. We need a more aligned uh across the every country and at the

uh across the every country and at the regional level more aligned standards

regional level more aligned standards that could be the real gateway as we

that could be the real gateway as we hear there are already standards. So how

hear there are already standards. So how we can bring that all together to be

we can bring that all together to be more credible, harmonized and um what

more credible, harmonized and um what can then be defined as a green steel

can then be defined as a green steel from the region's point of view and not

from the region's point of view and not just looking at like how the global is

just looking at like how the global is defining but aligning it more with the

defining but aligning it more with the global should be the priority.

global should be the priority. uh we have to take some here steps to

uh we have to take some here steps to doing that and that would require to be

doing that and that would require to be looking at across the whole value chain

looking at across the whole value chain and not just looking at like a one

and not just looking at like a one perspective and this would require like

perspective and this would require like you know how do we look at from the

you know how do we look at from the upstream midstream and downstream point

upstream midstream and downstream point of view all the different mix of you

of view all the different mix of you know um it's not just one bullet would

know um it's not just one bullet would fit all I think this is a mix of a

fit all I think this is a mix of a combination of a different thing so once

combination of a different thing so once we have the standards we would need like

we have the standards we would need like definitions And that gives a clear

definitions And that gives a clear market signal. So having the green

market signal. So having the green public procurement as the priority with

public procurement as the priority with those things in the in the place that

those things in the in the place that would also help in financing and

would also help in financing and creating a more recognized buyers market

creating a more recognized buyers market and mobilizing the different kind of the

and mobilizing the different kind of the instruments that would also go around

instruments that would also go around it. Um I think that would be one

it. Um I think that would be one definitely and for that that would can

definitely and for that that would can be passed on as like a technology

be passed on as like a technology deployment that follow up at a scale and

deployment that follow up at a scale and you know expanding onto the EF capacity

you know expanding onto the EF capacity and piloting some of the some of the

and piloting some of the some of the lowcarbon technology projects would be

lowcarbon technology projects would be the second for me. So I would put the

the second for me. So I would put the demand side as the first tier.

demand side as the first tier. >> Thank you Kajel that pushing um demon

>> Thank you Kajel that pushing um demon side as the priority that we have to

side as the priority that we have to look at. Maybe Mr. um set up if you have

look at. Maybe Mr. um set up if you have any perspective on that question. Thank

any perspective on that question. Thank you.

you. >> Um I I think uh we need some sort of uh

>> Um I I think uh we need some sort of uh coming together of parties uh for four

coming together of parties uh for four groups of parties. Uh the first one

groups of parties. Uh the first one being the steel producers in Azian. The

being the steel producers in Azian. The second is uh the the policy makers. The

second is uh the the policy makers. The third are the academic and research

third are the academic and research institutions

institutions uh which we have a lot in Azian. And the

uh which we have a lot in Azian. And the fourth is the financial sector. and uh

fourth is the financial sector. and uh sitting down together and discuss what

sitting down together and discuss what are the obstacles and barriers uh put

are the obstacles and barriers uh put everything down at the table and I think

everything down at the table and I think we could come up with solutions uh that

we could come up with solutions uh that would benefit the Azen as a whole. Yeah,

would benefit the Azen as a whole. Yeah, >> thank you. Thank you for um emphasizing

>> thank you. Thank you for um emphasizing the needs to strengthen the

the needs to strengthen the collaborations especially for the market

collaborations especially for the market players and stakeholders that you have

players and stakeholders that you have identified to be very for um cons uh for

identified to be very for um cons uh for discussions. Yeah. Um, I'd like to move

discussions. Yeah. Um, I'd like to move to our uh speaker here, M. Mitchell.

to our uh speaker here, M. Mitchell. Maybe uh your uh last um response.

Maybe uh your uh last um response. >> I I think if we if we look at the

>> I I think if we if we look at the building construction sector uh as a as

building construction sector uh as a as an example, you know, we've had a a

an example, you know, we've had a a fairly clear um uh definition of green

fairly clear um uh definition of green buildings uh both in our respective

buildings uh both in our respective countries and uh and globally. And this

countries and uh and globally. And this can have a double-edged uh sword because

can have a double-edged uh sword because uh intentionally or otherwise it implies

uh intentionally or otherwise it implies that green solutions are something that

that green solutions are something that are exceptional or something that are

are exceptional or something that are worthy uh or warrant uh recognition.

worthy uh or warrant uh recognition. Um and that may have been uh had more

Um and that may have been uh had more value 10, 15, 20 years ago, but

value 10, 15, 20 years ago, but increasingly these are solutions which

increasingly these are solutions which represent technological evolution and

represent technological evolution and advancement and they're solutions which

advancement and they're solutions which can be straight away mainstreamed. Um

can be straight away mainstreamed. Um there we're well past the point of these

there we're well past the point of these being halo solutions or exceptional

being halo solutions or exceptional solutions. And so I think that we need

solutions. And so I think that we need to proceed with caution when we

to proceed with caution when we characterize something as green steel or

characterize something as green steel or not green steel. Um it's steel and what

not green steel. Um it's steel and what is the impact of that steel? What are

is the impact of that steel? What are the business models? What are the

the business models? What are the economic engines behind that product?

economic engines behind that product? It's universal. It's mainstreamed and we

It's universal. It's mainstreamed and we have the uh the solutions already uh

have the uh the solutions already uh laid out in front of us to uh adopt them

laid out in front of us to uh adopt them on a very wide scale. So I think let's

on a very wide scale. So I think let's just uh uh take a step back and reflect

just uh uh take a step back and reflect on not keeping these environmental

on not keeping these environmental solutions as something which is always

solutions as something which is always 10 years 20 years into the future but

10 years 20 years into the future but they're actually actionable and

they're actually actionable and economically viable uh uh now

economically viable uh uh now >> yeah thank you um Mitch maybe

>> yeah thank you um Mitch maybe architecture maybe on the financing

architecture maybe on the financing aspect

aspect >> no I'd like to just uh add uh well ASEAN

>> no I'd like to just uh add uh well ASEAN is made of more 10 countries I think And

is made of more 10 countries I think And we've been talking about those who are

we've been talking about those who are leading the steel industries uh Vietnam,

leading the steel industries uh Vietnam, Thailand, maybe Malaysia, Indonesia, but

Thailand, maybe Malaysia, Indonesia, but we have other countries too like Laos,

we have other countries too like Laos, Myanmar and so on. And you're talking

Myanmar and so on. And you're talking about alignment of policies and things

about alignment of policies and things like that. So I think there's some

like that. So I think there's some responsibility for much for uh for

responsibility for much for uh for Assean countries to assist capacity

Assean countries to assist capacity building of all these countries that

building of all these countries that need some uh assistance in order for us

need some uh assistance in order for us to level up the playing field and become

to level up the playing field and become a true global player over a period of

a true global player over a period of time. Yeah. So I think that is something

time. Yeah. So I think that is something that I would like to uh look at because

that I would like to uh look at because not everybody had the same source of

not everybody had the same source of fuel. Philippines may be totally

fuel. Philippines may be totally dependent on import. Asia has got gas.

dependent on import. Asia has got gas. Uh Indonesia has got all coal and so on.

Uh Indonesia has got all coal and so on. So uh everything calculates to GH

So uh everything calculates to GH differently. So in order for us to come

differently. So in order for us to come up with some common grounds, there's

up with some common grounds, there's lots and lots of things to do. Yeah.

lots and lots of things to do. Yeah. >> Thank you.

>> Thank you. >> Thank you. Um thank you architect. So um

>> Thank you. Um thank you architect. So um again thank you all thank you to all our

again thank you all thank you to all our panelists today uh for sharing your

panelists today uh for sharing your valuable insights and to our audience

valuable insights and to our audience also thank you so much for your

also thank you so much for your attentions. So today's discussion

attentions. So today's discussion reinforce

reinforce uh one key takeaway assean still

uh one key takeaway assean still transition depends on partnership

transition depends on partnership between governments industry and

between governments industry and financial financial financial

financial financial financial institutions to align with the

institutions to align with the technology policy and investment toward

technology policy and investment toward greener and more competitive picture for

greener and more competitive picture for our region. I'd like to thank you again

our region. I'd like to thank you again to all all of you. Um I think this is

to all all of you. Um I think this is will be concluding our sessions. Um,

will be concluding our sessions. Um, thank you again all the participant and

thank you again all the participant and the speakers. Yeah, I'll give it back to

the speakers. Yeah, I'll give it back to our moderator.

our moderator. >> Giving applause to the speakers and the

>> Giving applause to the speakers and the moderators.

moderators. >> Thank you to all speakers, moderators

>> Thank you to all speakers, moderators and participants for engaging and some

and participants for engaging and some insightful discussion. First uh we would

insightful discussion. First uh we would like to have a photo session with online

like to have a photo session with online speakers, the sin setting presenters and

speakers, the sin setting presenters and all the uh offline speakers and the

all the uh offline speakers and the moderator.

Thank you. Today's session has underlined the fal

Today's session has underlined the fal vital importance for innovation policy

vital importance for innovation policy support and financing mechanisms

support and financing mechanisms problem. Okay.

>> Okay. Thank you. Sorry. Yeah, today's session has underlined the

Yeah, today's session has underlined the vital importance of innovation, policy

vital importance of innovation, policy support, and financing mechanisms to

support, and financing mechanisms to advance the region's journey towards a

advance the region's journey towards a sustainable lowcarbon steel industry.

sustainable lowcarbon steel industry. One that strengthens ASEAN

One that strengthens ASEAN competitiveness while supporting its net

competitiveness while supporting its net zero ambitions. On behalf of the ASEAN

zero ambitions. On behalf of the ASEAN Center for Energy, we extend our deepest

Center for Energy, we extend our deepest appreciation to our panelists and all

appreciation to our panelists and all attendees for your valuable

attendees for your valuable contributions. We wish you an enjoyable

contributions. We wish you an enjoyable continuation of the ASEAN Energy

continuation of the ASEAN Energy Business Forum 2025 and thank you very

Business Forum 2025 and thank you very much and have a pleasant day ahead.

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YouTube Transcript:#AEBF25 | Day 3 - Industrial Decarbonisation: Net Zero Roadmap for the Steel Industry in ASEAN