Source: The post is based on the article “India, Japan to improve bilateral cooperation towards clean energy transition” published in Down To Earth on 7th March 2023.
What is the News?
Japan looks forward to supporting India’s clean energy transition by including India in the Asia Energy Transition Initiative (AETI).
What is the Asia Energy Transition Initiative(AETI)?
Launched by: Japan in 2021
Aim: To achieve both sustainable growth and carbon neutrality in Asia
The initiative initially supported the Association of South East Asian Nations (ASEAN) countries towards achieving net-zero emissions, including financial assistance of $10 billion for renewable energy.
Japan now looks forward to supporting India’s clean energy transition by including the country in the AETI.
About India-Japan Clean Energy Partnership
The Ministry of External Affairs of India had published in 2022 the requisites of the Clean Energy Partnership(CEP) between India and Japan.
The partnership has made way for India and Japan to acknowledge the need to explore a variety of options to ensure a secure and stable supply of energy for achieving both goals of sustainable economic growth and addressing climate change.
Under the partnership, both India and Japan will be tapping into the potential of low carbon sunrise sectors and exploring new technologies and business models to lower carbon emissions.
The cooperation under this partnership will build on the work already being covered out by the two sides under the foundation of the ‘India-Japan Energy Dialogue’ established in 2007.
Significance: India has set an ambitious target of achieving net zero by 2070. Japan has initiated a goal of becoming net zero by 2050.The countries are utilizing new technologies and economic models that would help reduce emissions.
– This provides significant opportunities to improve bilateral cooperation towards clean and sustainable energy transitions.