Japan pledges $10bn for green transition in Asia
Tokyo proposes roadmap for decarbonisation and puts its money where its mouth is.
By Marc Allen
Japan has pledged $10bn in financial aid for decarbonisation projects in Asia, including gas-fired power stations and LNG receiving terminals as it seeks greener alternatives to coal-fuelled plants.
In a virtual meeting with Association of Southeast Asian Nations (ASEAN) energy ministers, Japan’s Minister of Economy, Trade and Industry Hiroshi Kajiyama said: “We propose the Asian Energy Transition Initiative as a package of Japanese support for realistic transitions in Asia towards carbon neutrality.”
The support package will include lending and investments from the Japanese public and private sectors and will aim to cut carbon emissions and help each of the 10 participating ASEAN members reach their carbon-neutral targets.
