Japan pledges financial support to help ASEAN’s decarbonisation

TOKYO, March 4 (Reuters) – Japan’s authorities pledged monetary and technological help to assist ASEAN international locations speed up their efforts to decarbonise their economies and fight international local weather change, its trade minister stated on Saturday.

Power-poor Japan goals to show into the world’s main hydrogen financial system to cut back dependence on conventional polluting fossil fuels resembling coal and oil.

Because the chair of the Group of Seven nations (G7) this 12 months, Japan will maintain a ministerial assembly on local weather, power and surroundings within the metropolis of Sapporo on April 15-16, forward of the principle G7 summit in Hiroshima on Could 19-21, to advertise what it calls reasonable power transition.

“Japan will take a lead in offering beneficiant help in finance, know-how and private assets to assist Asia’s decarbonisation,” Business Minister Yasutoshi Nishimura instructed a ministerial assembly of the Asia Zero Emission Neighborhood (AZEC).

The AZEC was proposed by Japanese Prime Minister Fumio Kishida final 12 months with the purpose of sharing the philosophy of selling decarbonisation in Asian nations and cooperating to push ahead power transition.

On the first AZEC assembly on Saturday in Tokyo, which ministers from a number of ASEAN international locations and Australia are attending, the push for collaboration will embody renewable energy, pure fuel, hydrogen, ammonia amongst others, Nishimura stated.

Japan will stress the significance of funding in fuel, liquefied pure fuel in addition to hydrogen and ammonia throughout its presidency of the G7 this 12 months however would maintain it clear to fulfill 2050 carbon impartial aim, a supply stated this week.

Reporting by Yuka Obayashi and Katya Golubkova; Modifying by Himani Sarkar

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