September 28, 2022
The meeting was attended by ministries and delegates from 20 countries and three international organizations, mainly in Asia and the Middle East. The participants had in-depth discussions on diverse and realistic energy transitions that will ensure energy security and enable countries to achieve sustainable economic growth and carbon neutrality at the same time. Speakers also reported on the steady progress various public and private initiatives have made. This included announcing private finance guidelines for Asia's energy transition and a list of transition technologies.
The outcomes of the meeting have been published as a Chair's Summary.
<Outline of the meeting>
Japan hosted this meeting to drive diverse and realistic energy transitions in Asian countries that will also ensure energy security and enable them to achieve sustainable economic growth and carbon neutrality at the same time. It was intended to be a space for participating countries and international organizations to discuss these topics and for announcing public-private partnerships.
The meeting was attended by ministries and delegates from a total of 23 countries and international organizations, namely, the ASEAN Secretariat, the Economic Research Institute for ASEAN and East Asia (ERIA), the International Energy Agency (IEA), and countries in Asia, the Middle East, and North America.
In the ministers' portion of the meeting, Mr. Nishimura Yasutoshi, Minister of Economy, Trade and Industry, set a major goal: for the world to achieve carbon neutrality as soon as possible. He also emphasized the importance of balanced energy transitions that can successfully address energy security, economic growth, and climate change at the same time.
Additionally, he gave updates on the steady progress made through the various public-private initiatives started in line with the Asia Energy Transition Initiative (AETI), which include developing human resources and support for creating roadmaps.
In the private sector portion that followed, Mitsubishi UFJ Financial Group (MUFG) released the final report on the Asia Transition Finance Guidelines. Financial institutions mainly in Asia, Europe, and the US have been discussing these in depth since last year in order to mobilize funding for transition technologies. ERIA also showcased 10 transition technologies that will contribute to energy transitions. NEXI and JBIC introduced their financial support initiatives and policies that are in line with AETI and Asia Transition Finance (ATF).
Also, Japanese companies introduced nine initiatives that will contribute to energy transitions in Asia and the Middle East, and 11 MOUs were signed regarding projects that will contribute to energy transitions in Asia.
In the last portion, internationally influential people gave very encouraging special messages on the importance of transition finance and innovation in Asia.
The Chair's Summary was published on the basis of these discussions in the meeting.
Outline of the Chair's Summary
- Welcome Keynote Speech from the Minister of METI(PDF:135KB)
- Chair's Summary(PDF:133KB)
- List of participating countries and international organizations(PDF:63KB)
- Asia Transition Finance Guidelines
- Asia Transition Finance (ATF) Activity Report
- Technology List and Perspectives for Transition Finance in Asia
- List of signed MOUs
- Asia Green Growth Partnership Ministerial Meeting (AGGPM) website
- Asia Energy Transition Best Practices*To be posted on this website at a later date.
- Asia Energy Transition Initiative (AETI)