The Ministry of Economy, Trade and Industry (METI) will partner with the Asian Development Bank (ADB) to provide support for the decarbonization of Asia. The two partners will assist the efforts of the Association of Southeast Asian Nations (ASEAN) and individual countries to pursue economic development while conserving energy and introducing renewables to reduce greenhouse gas emissions. It is hoped that accelerating the decarbonization of the region will create business opportunities for Japanese corporations.
The funding will be provided mainly under the CEFIA (Cleaner Energy Initiative for ASEAN) framework established between the governments and private companies of Japan and ASEAN member countries. The prospective projects include one that incorporates IT to improve energy efficiency in Indonesian factories and a demonstration experiment in the Philippines to supply locally procured renewable energy to islands. Educational programs will be offered in the member countries to increase the number of people who are knowledgeable about environmental protection.
METI and the ADB will conclude a memorandum of cooperation on the matter in the near future. (Abridged)