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ASEAN welcomes Japan's US$10 billion support for decarbonisation

ASEAN welcomes Japan's US$10 billion support for decarbonisation

The Vietnamese delegation attend the meeting. (Photo: VNA)   

NDO/VNA - The Association of Southeast Asian Nations (ASEAN) has welcomed Japan's pledge of US$10 billion in financial support for decarbonisation efforts by its member states.

The joint statement released after the online meeting on June 21 between ASEAN energy ministers and Japanese Minister of Economy, Trade and Industry Hiroshi Kajiyama said they shared the need for adequate financing to support the region's energy transitions involving measures to cut carbon dioxide emissions and accelerate renewable energy use, Kyodo News reported.

"In light of the unprecedented challenges due to the COVID-19 pandemic, the meeting recognised the urgency of addressing sustainable post-pandemic recovery and affirmed the importance of energy transitions towards sustainable development," Kyodo News quoted the statement as saying.

Japan's 'Asia Energy Transition Initiative' will also include "human resources development through various training workshops, studies and reports, and knowledge sharing activities, according to the statement.

The training on new technologies such as hydrogen use and carbon capture and storage will be provided to around 1,000 people in the region, Japanese officials said.

The initiative is aimed not only at reducing the region's greenhouse gas emissions but also expanding business opportunities for Japanese companies, they said.

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