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- Hon. Hagiuda Koichi
Asia has the world’s fastest growing energy demand and will see the largest rise in emissions in the coming decades. Its ability to manage both the climate agenda and energy transition—to deliver reliable and affordable access to power and to stem emissions and pollution—will be key to delivering on the region’s expectations for prosperity and sustainability. To address this challenge, Japan and several Asian partners have been developing the Asia Energy Transition Initiative. The region has the potential to transform into a global renewable energy hub. Recent energy shocks in Asia and Europe have demonstrated the critical importance of meeting natural gas demand for electrification, heating, and petrochemicals. How can Asia attract the investment it needs to meet these transitional challenges? What mechanisms can be employed for the Asia Pacific region to reach its net zero future while also guaranteeing a just transition?