India is looking forward to joining the Japan-led initiative called the Asia Energy Transition Initiative (AETI) which will give a boost to India’s clean energy transition initiatives. This move is significant as it will help India achieve its clean energy goals and contribute towards achieving the global net-zero emissions target by 2050. In this essay, we will understand what is Japan’s Asia Energy Transition Initiative and the significance of India joining it.
What is the Asia Energy Transition Initiative (AETI)?
The initiative was inaugurated by Japan in 2021 and supported by the Association of Southeast Asian Nations (ASEAN). The main objective of the initiative is to support countries to achieve net zero emissions by providing financial assistance of $10 billion through renewable energy.
AETI also aims to support the countries in formulating energy transition roadmaps, promote the concept of Asia Transition Finance, technology development and deployment, human resource development and knowledge sharing.
India-Japan Clean Energy Partnership
India and Japan already have a clean energy partnership that plans to cover various areas such as e-mobility, renewable energy, energy efficiency initiatives, green hydrogen, etc. In March 2022, India’s External Affairs Ministry announced components of the Clean Energy Partnership between India and Japan. The Clean Energy Partnership will work to fulfil the objectives covered in the India-Japan Energy Dialogue 2007 and will also expand cooperation into areas of mutual benefit.
Clean Energy Initiatives by India and Japan
Both India and Japan have set a target of achieving net zero emissions by 2070 and 2050 respectively. The Japanese government aims for a 46 per cent reduction in greenhouse gas emissions by 2030 and also released a report on Clean Energy Strategy in May 2022. The Quadrilateral Security or the Quad also announced the Clean-Hydrogen Partnership which aims to develop technology, production and trade in clean hydrogen.
India has significant renewable energy potential which can boost green hydrogen (GH2) production. The surplus hydropower potential of Nepal and Bhutan can be utilized by green hydrogen electrolysers in India. There is an untapped potential for a GH2 economy in the Indian subcontinent.
India’s Presidency Position in G20 and Japan’s Presidency Position in G7
India and Japan hold the presidency position of G20 and G7 respectively where Lifestyle for Environment (LiFE) is one of the significant priorities for India during its G20 presidency. The India-Japan Environment Week event will also help to formulate a roadmap to integrate variable renewable energy into the system through multifaceted cooperation.
MCQs about Clean Energy Initiatives by India and Japan
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What is Asia Energy Transition Initiative (AETI)?
A. A renewable energy initiative by India
B. A program to achieve net zero emissions supported by ASEAN
C. An initiative to increase oil and gas production in Asia
D. A financial assistance program for Asian countries
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What is the objective of AETI?
A. To increase oil and gas production in Asia
B. To support countries in formulating energy transition roadmaps
C. To provide financial assistance for coal-based projects
D. To promote the use of fossil fuels
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Which country holds the presidency position of G20 and has Lifestyle for Environment (LiFE) as one of its significant priorities during its presidency?
A. Japan
B. India
C. Nepal
D. Bhutan
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What is the Clean Energy Partnership between India and Japan?
A. An initiative to increase coal production in India and Japan
B. A program to achieve net zero emissions by 2050
C. An agreement to develop nuclear power in both countries
D. A partnership to cover areas such as renewable energy, energy efficiency initiatives, green hydrogen, etc.
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