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DAILY NEWS ANALYSIS

  • 13 March, 2023

  • 5 Min Read

Asia Energy Transition

Asia Energy Transition

  • By extending its "Asia Energy Transition Initiative" (AETI) Japan intends to assist India in leading the transition to renewable energy.
  • The Association of South East Asian Nations (ASEAN) countries received its first support from Japan's AETI, which was launched in 2021, to achieve net zero emissions, including financial aid of USD 10 billion for renewable energy.

Highlight

  • Goal: To attain carbon neutrality in Asia and sustainable growth.
  • It was initially focused on encouraging the Association of South East Asian Nations (ASEAN) member nations to push for net-zero carbon emissions.
  • The initiative encourages the creation of energy transition road maps.
  • The financial support for LNG, energy efficiency, renewable energy, etc. is $10 billion.
  • Using the attainment of a 2 trillion yen budget for fuel-ammonia, hydrogen, etc., it aspires for technology research and deployment.
  • It promotes information sharing through the Asia Carbon capture, utilisation and storage (CCUS) network and the development of decarbonization technology capability.

About Clean Energy

  • The term "Clean Energy Transition" describes the transition away from conventional, fossil fuel-based energy sources (such as coal, oil, and natural gas) and towards cleaner, more environmentally friendly energy sources.
  • The need to reduce greenhouse gas emissions, ameliorate the effects of climate change, and address other Environmental and Public Health Issues related to the usage of fossil fuels is what is driving this transformation.
  • Renewable energy sources including solar, wind, hydro, geothermal, and biomass energy are examples of clean energy sources. Energy storage technology like batteries and hydrogen fuel cells are further examples.

India - Japan Energy Relation

  • The G20 and G7 now have India and Japan as their respective leaders.
  • India's Lifestyle for Environment (LiFE) initiative is one of the top priorities for the G20 presidency in terms of environmental sustainability.
  • Additionally, the Feed-in Premium (FiP) programme, launched by the Japanese government in April 2022, is anticipated to enhance the nation's energy transformation.
  • Japan has established a target to achieve net-zero status by 2050, and in May 2022, the government released an initial report on its Clean Energy Policy.
  • India has likewise established a challenging goal to achieve net-zero emissions by 2070.

India - Japan Relation

  • India-Japan contacts have improved as a result of increased strategic convergence, and their importance is expanding as a result of shared views on issues pertaining to the Indo-Pacific Region's peace, security, and stability.
  • The formalised Tri-Service Exchanges between Japan and India complete the trifecta. Since 2006, there have been yearly exchanges between the Coast Guards.
  • One of India's most important allies in its economic development is Japan. The India-Japan relationship has recently developed into a strong alliance with a clear goal.
  • To further current areas of cooperation as well as new initiatives within the scope of cooperation in S&T/ICT, focusing more on "Digital ICT Technologies," the India-Japan Digital Partnership (I-JDP) was inaugurated during PM Modi's visit to Japan in October 2018.

Further India-Japan Projects

  • The Supply Chain Resilience Initiative (SCRI) was established by India, Japan, and Australia to challenge China's hegemony over the Indo-Pacific region's supply chain.
  • India and Japan inked the Acquisition and Cross-Servicing Agreement (ACSA) in 2020 to establish tight logistical cooperation between their armed forces.
  • Special Strategic and Global Partnership: In 2014, the relationship between India and Japan was improved.
  • Comprehensive Economic Partnership Agreement (CEPA): Japan is India's 12th-biggest economic partner, and India is the largest receiver of Japanese aid.
  • G20, G4, and the International Thermonuclear Experimental Reactor all share India and Japan as members (ITER).
Way Forward
  • In order to advance their standing in the international community, Japan and India cultivate and maintain connections with other nations. The two nations are connected by shared interests, particularly when it comes to foreign policy, in the dangerous world of today.
  • In the area of digital technology, India and Japan have many shared interests. Japan has the technology, while India has the manpower and the raw materials.

Both nations benefit from their tight cooperation when dealing with adversarial neighbours like China.

Source: The Hindu


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