Thailand’s Energy Transition

September 21, 2022
INTRODUCTION The energy transition is disrupting markets around the world, and Thailand is no exception. The move from energy based on fossil fuels to renewable sources will reshape energy markets over the coming decades. The disruption this will cause will give rise to plentiful opportunities for climate-tech businesses. The Thai government has already announced a number of measures it will implement in order to facilitate the transition. CURRENT SITUATION Before looking at the measures the Thai government is taking to support the energy transition, it is worth examining the status quo. Thailand’s energy needs are currently met by fossil fuels such as refined petroleum products and natural gas, as well as a mix of renewable sources such as solar, wind, biomass, and hydroelectricity. Petroleum Thailand is a net importer of both crude oil and refined oil products. Natural gas is sourced both domestically and through imports, which arrive through pipelines from Myanmar and as liquefied natural gas (LNG). With domestic gas supplies being depleted and limited opportunities for new investment in the upstream sector, LNG looks likely to play an increasingly important role in supplying Thailand’s energy needs in the coming decades. Earlier this year, the Department of Mineral Fuels, Ministry of Energy (DMF) announced the 24th bidding round for offshore exploration and production blocks; bids are due between 5 – 16 September 2022. Electricity Generation As of May 2022, Thailand’s installed grid capacity was approximately 46.8 GW.1 This does not include very small power producers (VSPPs), which are defined as power projects with an installed capacity of less than 10 MW. The figure also does not include so-called “behind...

In-House Insights with Dr Vincent Ng of AEON

September 21, 2022
On working with passion and prioritising balance PLEASE CAN YOU GIVE US A LITTLE BACKGROUND INTO THE BUSINESS OF AEON CO. (M) BHD. IN MALAYSIA? AEON Co. (M) Bhd. (“AEON”) is a part of the AEON group of companies in Malaysia which is owned by its parent company, AEON Co. Ltd., based in Japan. AEON was set up on 15 September 1984, in response to the Malaysian Government‘s invitation to help modernise the country’s retail industry. AEON currently manages and operates 28 AEON malls, a retail chain of 34 AEON departmental stores, 9 AEON Maxvalu Prime supermarkets, 65 AEON Wellness pharmacies and 41 Daiso flat-price outlets with an extensive range of products such as daily essentials, household items, apparel, pharmaceuticals, flat-price items and other merchandise. AEON also offers Personal Shopper Services, DriveThru Services and Delivery Services via its myAEON2go e-commerce platform for fast, efficient and minimal contact shopping for its customers. In line with AEON’s “Customer First” policy, we endeavour to surpass our customers’ expectations and enhance their shopping experience with us. NOW, ON TO YOUR BACKGROUND – WHAT WERE YOUR STEPPING STONES TO REACHING THE POSITION OF HEAD OF LEGAL AT AEON, AND WHAT HAS YOUR EXPERIENCE IN THIS ROLE BEEN LIKE THUS FAR? I was admitted as an Advocate & Solicitor of the High Court of Malaya in 1994. I hold a Bachelor and Master of Laws degree and obtained my Doctor of Business Administration (DBA) in 2016. I was a practicing lawyer before joining AEON as the Legal Manager in 2000. From my accumulation of legal and retail experiences at AEON, I was entrusted the current...

Energising Projects to Go Green: The Impact of the Pandemic and War on Global Energy Markets

September 21, 2022
Just when it seemed the world might be returning to some version of “normal”, the Russian invasion of Ukraine taught us, once again, that it is perhaps more cogent to expect the unexpected. We’ve covered the ramifications of this war on the legal community in Russia, Ukraine and beyond. In this issue, we take a moment to consider the consequences of the ongoing conflict on energy markets globally, including volatility in fossil fuel prices and the reassessment of energy security risks, together with an update on projects across the Middle East and Asia. CONFLICT CAUSING CRISIS The International Energy Agency (IEA) has called the energy fallout following the war in Ukraine our “first truly global energy crisis in history”. The European Union is directly reliant on Russia for gas, with 40% of the EU’s gas coming from Russia in 2021, accounting for 75% of Russia’s exported gas volume. China and Japan are similarly large importers of gas, seeing 9.2 and 8.8bcm, respectively from Russa each year. European nations also take top spot as users of Russian oil, accounting for two-thirds of Russia’s exports, with a fifth exported to China (the single biggest buyer in 2021 according to the IEA). These figures are, however, expected to change significantly in the short term as nations rethink reliance on Russian fuels. Ramifications of this instability, of course, extend far beyond these direct importers. While the COVID-19 pandemic saw global oils prices slump to USD 14 per barrel in April 2020, March 2022 saw them fly to USD 133 in the wake of Russia’s invasion of Ukraine. Cost of living prices globally have...

Climate Change Disclosure in China and How Best to Measure

September 21, 2022
INTRODUCTION 2023 will be a year of substantive climate change action as all EU market participants (EMPs) and China market participants (CMPs or together Financial MPs) will be accountable to comply1 with a plethora of rigorous and exacting disclosure requirements on how they are managing emissions. Given that China has been the largest CO2 contributor for the last decade2 and consistently responsible for nearly a third of the world’s emissions3 since 2018, it is in the best position to improve the global trajectory. The table below shows the top carbon emitters by jurisdiction. Accurate emissions measurement matters, given that significant change is required to adjust the current direction (shown below) and avoid impending issues caused by global temperature rise. This article describes the complexity of emissions measurement among multinational corporates in China and their related investment community, given the dynamic multi-jurisdictional regulatory landscape. It then demonstrates the current issues and concludes with a practical means to navigate them. GLOBAL REGULATORY MOVEMENT As mentioned, China and the EU have established significant systems (i.e., regulations and carbon measurement via their Emission Trading Systems (ETS)) that require immediate action from FMPs to meet 2023 mandatory reporting requirements. 2023 compliance deadlines should be feasible, given the impetus began in 2015 via COP214, where leaders5 pledged to have strategies implemented within five years. However, most regulatory announcements occurred around the five-year mark (2020) and have accelerated since. Most critical are the major emitters.6 Among them, the EU and China7 have made the greatest regulatory strides. Accordingly, FMPs in these markets are facing an imminent and arduous compliance feat. For example, in March 2020, the...

Taiwan IP Updates – September 2022

September 15, 2022
Taiwan Updates Distance Learning IP Rules In response to current technological developments, educational policies, and pandemic measures, the Legislative Yuan passed partial draft amendments to the Copyright Act in a third reading on May 27, 2022.  The amendments target aspects of distance learning such as the rules for fair use of copyrighted works, allowing teachers to provide classroom instruction without unnecessary worry.  In accordance with digital education policies, the amendments also allow textbook preparers to transmit digital copies to teachers and students to promote the use of e-schoolbags as a replacement for the heavy backpacks that previous generations had to endure.  The main amendments are as follows: Within the necessary scope of classroom instruction, teachers may offer reference materials or information to students online. This is in response to the pandemic situation as well as international technological development trends. Not-for-profit remote education may use copyrighted works but must still pay for copyright authorization. For-profit distance learning activities must acquire paid authorization also. Textbook preparers may transmit digital copies of copyrighted works to teachers and students for e-schoolbags unlike previously when only paper copies of textbooks were allowed to be distributed. Remuneration must be paid for the authorized use of copyrighted works under the new regulations. The National Central Library (NCL) will be allowed to digitally reproduce its collection in advance as a precaution against damage or loss. The NCL and affiliated libraries will also allow readers access to the digital collection via computers within the libraries. Taiwan Amends Guidelines to Accept E-signed POAs The Taiwan Intellectual Property Office (TIPO) is planning to revise the Patent Examination Guidelines to allow...