On June 21, Japan committed to provide 10 billion USD in aid for decarbonization projects in Asia, such as renewable energy, energy saving and the transition from coal-fired power to gas-fired power for energy conversion.
In an online meeting with energy ministers from the Association of Southeast Asian Nations (ASEAN), Japan’s Economy, Trade and Industry Minister Hiroshi Kajiyama proposed various support measures for the region, including helping the association’s member states establish a realistic roadmap towards carbon neutrality, and how to achieve it.
“We propose the Asia Energy Transformation Initiative as Japan’s support package for actual transformations in Asia towards carbon neutrality,” said Mr. Kajiyama.
Mr. Takeshi Soda, Director of International Affairs at the Ministry of Economy, Trade and Industry of Japan, said that the financial support, including lending and investment from Japanese public and private sectors, will aim at the projects that help cut carbon emissions and contribute to each country’s carbon neutrality goal.
“These projects will include the construction of gas-fired thermal power plants and liquefied natural gas (LNG) receiving terminals, as natural gas is seen as an alternative for coal and an important transition fuel,” Soda talked to Reuters on the phone.
“There has been rapid progress in divesting fossil fuel projects in the international finance industry,” said Mr. Soda. However, to achieve carbon neutrality in ASEAN, it is important to create a mechanism to attract investment and finance for many projects and technologies that contribute to the energy transition.
Source: baotainguyenmoitruong.vn
