Japan has committed to providing financial aid of US$10bn for the energy transition in south east Asia through decarbonisation projects that include renewable energy, energy-saving, LNG and conversion of coal-fired power plants to gas-fired.
The announcement was made by the Japanese Minister of Economy, Trade, and Industry Hiroshi Kajiyama during a virtual meeting with the Association of Southeast Asian Nations (ASEAN) energy ministers.
During the meeting, Kajiyama proposed multiple support measures for the region under the Asia Energy Transition Initiative (AETI). Included in these are assisting each of the countries to determine a realistic path towards carbon neutrality and in building a roadmap for achieving it.
A total of 10 ASEAN countries took part in the Japan-ASEAN Energy Ministers’ Special Meeting.