Japan pledges whopping $10b to aid Asia’s green energy projects

The financial aid includes lending and investment from Japanese private and public sectors.

Japan has offered a $10b financial aid for decarbonisation projects in Asia to help support the region to become carbon neutral.

These include projects in renewable energy, energy-saving, and conversion to gas-fired power generation from coal-fired power.

In a recent virtual meeting of ASEAN energy ministers, Japan's Minister of Economy, Trade and Industry Hiroshi Kajiyama proposed the Asian Energy Transition Initiative as a package of Japanese support for realistic transitions in Asia towards carbon neutrality.

The financial aid targets projects that will help cut carbon emissions and contribute to each country’s carbon neutral goals.

Takeshi Soda, director for International affairs at the industry ministry said in a Reuters report that these projects  will include building gas-fired power stations and liquefied natural gas (LNG) receiving terminals as natural gas is considered an alternative to coal and a key transition fuel.