The Paris Agreement of 2015 set a global goal to limit the rise in average temperatures to well below 2°C, ideally aiming for 1.5°C above pre-industrial levels. This commitment has urged countries worldwide to adopt stringent measures to cut emissions, with the energy sector at the center of these efforts. In fact, the energy sector alone contributes over three-quarters of global CO2 emissions (IEA, 2023), making energy transition a key priority in many national strategies.
However, shifting away from fossil fuels presents significant challenges. Fossil fuels have long been the foundation of both economic growth and social progress. In many countries, power systems remain heavily reliant on coal, oil, and gas. Moreover, the fossil fuel sector holds considerable political influence, given its substantial contribution to the economy. From an operational perspective, traditional power plants are designed to provide stable base-load power and are not optimized to work alongside highly variable renewable energy sources, such as wind and solar. As power systems evolve from centralized structures, dominated by large thermal power plants, toward decentralized models integrating more renewable energy, system flexibility becomes crucial. The higher the proportion of variable renewable energy in the mix, the more flexibility the system requires for safe and efficient operation.
The success of energy transition depends on both internal and external support. Internally, the shift from fossil fuels to renewable energy must address potential socio-economic challenges, such as workforce retraining, fiscal adjustments, supply chain disruptions, and broader social justice concerns. Externally, initiatives like the Just Energy Transition Partnership (JETP) offer critical financial support from developed nations to industrializing countries. This assistance, which includes public and private funding through mechanisms like concessional loans, grants, and guarantees, helps facilitate the transition. In Southeast Asia, Indonesia and Vietnam are among the first to benefit from the JETP. Cross-border cooperation also plays an important role, particularly in multilateral energy trade. In the #ASEAN region, diverse resources offer opportunities for regional power trade, strengthening energy security and advancing decarbonization efforts.
In collaboration with VEAM 2024 and the Fulbright Review of Economics and Policy (FREP), we are pleased to invite you to submit papers for the special session on energy economics and energy policies. We welcome a variety of submission formats, including theoretical and empirical research papers, meta-analyses, review articles, technical papers, perspective pieces, and case studies.
Submissions from multidisciplinary areas are encouraged, covering topics such as:
• The current state of energy transition: Prospects, opportunities, and challenges
• Power market reforms
• Socio-economic impacts of energy transitions
• Equity, inclusiveness, and fairness in energy transitions
• Financial mechanisms supporting energy transitions
• The role of multilateral collaboration in addressing energy and climate challenges
• International mechanisms, including the Just Energy Transition Partnership (JETP), Carbon Border Adjustment Mechanism (CBAM), and others.
Presenters of accepted papers can submit to the special session free of charge. All submissions must be in English and submitted by 5 PM (Hanoi time) on November 10th, 2024.