ASIA GREEN GROWTH PARTNERSHIP MINISTERIAL MEETING 2022

Meeting Outline

On September 26, the Ministry of Economy, Trade and Industry (METI) held the second Asia Green Growth Partnership Ministerial Meeting (AGGPM) as a hybrid event (both online and in person).
The meeting was attended by ministries and delegates from 20 countries and three international organizations, mainly in Asia and the Middle East. The participants had in-depth discussions on diverse and realistic energy transitions that will ensure energy security and enable countries to achieve sustainable economic growth and carbon neutrality at the same time. Speakers also reported on the steady progress various public and private initiatives have made. This included announcing private finance guidelines for Asia's energy transition and a list of transition technologies. The outcomes of the meeting have been published as a Chair's Summary. Recorded videos of the meeting and documents presented in the meeting are available on this page.

The press release from the Ministry of Economy, Trade and Industry.

Asia Energy Transition Initiative

Vision of AGGPM

This meeting will deepen the discussion on the importance of a balanced energy transition that achieves sustainable economic growth, climate change countermeasures, and energy security in the context of the drastically changing global energy situation.
We will also present the steady progress of various public and private sector initiatives based on the "Asian Energy Transition Initiative (AETI)" announced last year, as well as new support measures and projects to accelerate the AETI.

1 Draw own pathways of Asian nations
for the Paris Agreement's goals

Green growth
as a common goal
Various pathways
to the common target
Overcoming challenges
through partnerships

2 Promote "Energy Transitions"
that balance the economy and the environment

Balance of 3E (Energy Security, Economic Efficiency, Environment)
Providing engagement that
leaves no country behind
Support and
dissemination of innovation

Programme

Part 1: Ministerial Round Table (16:00-18:00)

Chair's Summary

Welcome Keynote Speech

H.E. Mr. NISHIMURA Yasutoshi

Minister of Economy, Trade and Industry

Ministerial Speeches (5mins each)

H.E. Mr. Nasrul Hamid

State Minister for Power, Energy and Mineral Resources, Bangladesh

Pehin Datu Lailaraja Major General (Retired) Dato Paduka Seri Haji Awang Halbi bin Haji Md Yussof

Minister at the Prime Minister’s Office, Brunei Darussalam

H.E. Dr. Ty Norin

Secretary of State, Ministry of Mines and Energy, Cambodia

Mr. Frank Des Rosiers

Assistant Deputy Minister and co-chair for the Canada-Japan Energy Policy Dialogue (CJEPD), Canada

H.E. Arifin Tasrif

Minister of Energy and Mineral Resources, Indonesia

H.E. Mr. Javad Owji

Minister of Petroleum, Iran

H.E. Dr. Mohammed Al Faris

Deputy Prime Minister of Oil, Minister of State for Cabinet Affairs and Minister of State of the National Assembly Affairs, Kuwait

H.E. Dr. Sinava Souphanouvong

Deputy Minister of Energy and Mines, Lao PDR

H.E. Tengku Mohammad Taufik

President and Group CEO of Petronas, Malaysia, Petronas

H.E. Eng. Salim bin Nasser bin Said Al-Aufi

Minister of Energy and Minerals, Oman

H.E. Mr. Khurram Dastgir Khan

Federal Minister for Power Division, Pakistan

H.E. Atty. Raphael P. M. Lotilla

Secretary, Department of Energy, The Philippines

H.E. Mr. Saad Sherida Al Kaabi

Minister of State for Energy Affairs, Qatar

Mr. Eyad Jubran

Climate Change Advisor of the Ministry of Energy, Saudi Arabia

Dr. Tan See Leng

Second Minister for Trade and Industry, Singapore

H.E. Supattanapong Punmeechaow

Deputy Prime Minister and Minister of Energy, Thailand

H.E. Dr. Sultan Ahmed Al Jaber

Minister of Industry and Advanced Technology & UAE Special Envoy for Climate, Group MD & CEO of ADNOC, United Arab Emirates

Mr. Akhmedkhodjaev Azim

First Deputy Minister of Energy of the Republic of Uzbekistan, Uzbekistan

H.E. Nguyen Hong Dien

Minister of Industry and Trade, Vietnam

H.E. Dato Lim Jock Hoi

Secretary-General for ASEAN Economic Community, ASEAN Economic Community

Prof. NISHIMURA Hidetoshi

President of Economic Research Institute for ASEAN and East Asia (ERIA), ERIA

Dr. Fatih Birol

Executive Director of International Energy Agency, IEA

Intermission：Introduction of Asia Energy Transition Best Practices (18:00〜18:30)

Introduction of various projects by Japanese companies, which contribute to energy transition in Asia and the Middle East.

Presentation Slides (PDF)

Part 2: Private Sector Round Table (18:30-20:25)

Session 1: Transition Finance (18:30〜19:15)

Presentation of Asia Transition Finance Guidelines & Technology List and Perspectives on Transition Finance in Asia

Announcement of the guideline for Asia’s transition finance which was developed by ATF study group as well as the list of transition technology will be made. The members of the ATF Study Group range from Asian and global banks to government related organizations.

Press Release (PDF)

Mr. NAKAHAMA Fumitaka

Member of the Board of Directors, Managing Executive Officer, Chief Executive, Global Corporate & Investment Banking, MUFG Bank, Ltd

Presentation Slides (PDF)

Prof. NISHIMURA Hidetoshi

President of Economic Research Institute for ASEAN and East Asia (ERIA)

Presentation Slides (PDF)

PDF

PDF

PDF

Introduction of ATF related finance supports

JBIC Presentation (PDF)

NEXI and JBIC will introduce their financial activities and policies which are in line with Asia Energy Transition Initiative (AETI) and Asia Transition Finance (ATF).

Mr. KURODA Atsuo

Chairman and CEO, NEXI

Mr. UCHIDA Makoto

Managing Executive Officer, Global Head of Infrastructure and Environment Finance Group, JBIC

Session 2: MoU Signing Ceremony (19:15〜20:25)

Presentation Slides (PDF)

MOUs for projects that contribute to Asian energy transition will be signed.

Press Releases

Remarks by State Minister of Economy, Trade and Industry

H.E. Ms. OTA Fusae

State Minister of Economy, Trade and Industry

Part 3: Special Messages (20:25-21:35)

Special Messages ~the importance of transition finance and innovation in Asia~

Special messages about the importance of transition finance in Asia and innovation by world leaders mainly in the financial sector.

Mr. ASAKAWA Masatsugu

Asia Development Bank (ADB)

“As we all know, energy is essential for economic growth and energy security is now a critical challenge across the world. This is a major concern for developing countries. They are especially vulnerable to instability in the energy markets.”

Mr. Paul Everingham

Chief Executive Officer, Asia Natural Gas & Energy Association, Singapore

“Energy efficiency and renewables alone will not be sufficient and developing gas over coal will be critical to balancing emissions targets with energy security. Some multilateral financing organisations are backing away from supporting gas developments; this support should be reinstated now.”

Mr. Jaideep Khanna

Head of Barclays, Asia Pacific

“The first edition of the Asia Transition Finance Guidelines, based on the efforts of the participants in the Asia Transition Finance Study Group, will supplement existing frameworks, including global ones, to address challenges that are particularly relevant to transition finance in Asia.”

Mr. Nadir Godrej

Chairman of Godrej Industries Ltd. and Godrej Agrovet Ltd.

”As technology takes a leap, green energy gets very cheap.（・・・）Technology can save the day, but developed nations can pave the way, atone for their earlier sins by paying for new win-wins. A technology fund is what we need, developing nations can succeed.”

Mr. HAYASHI Nobumitsu

Governor, Japan Bank for International Cooperation

“(…) financial support for the energy transition of each country is essential. Transition finance is one of the most important factors in facilitating the initiative, and it has a significant role to play in accelerating the fair and orderly transition, in line with the Paris Agreement goals.”

Ms. Verena Lim

CEO, Macquarie Group Asia

“The transition must be done in a responsible manner, and we need platforms that can help industry, finance, and government work together to identify actions needed to put high emitting industries onto sustainable pathways, policy engagement framework and innovative financing solutions”

Mr. Eugene Weng Soon WONG

Chief Executive Officer, Sustainable Finance Institute

“Because the starting points and circumstances of every country will be unique, it will be very difficult for a single global transition pathway to be embraced. A commonly accepted approach on the essential elements for a transition need to be agreed, but we will need specific criteria for different sectors and countries. This should not stop transition activities and financing for them.”

Mr. Bill Winters

Group Chief Executive, Standard Chartered

“Blended finance is a critical tool to de-risk and attract private investment, but we need to approach greater innovation to scale up that investment.”

Ms. KOIKE Yuriko

Governor of Tokyo

“To turn risk into opportunity, we will divert excellent technologies to growth industries. We will strongly promote measures for green transformation. These include assisting promising startups in the green technology sector; supporting the development of products that will contribute to greater use of renewable energy; and providing financial support .”

Mr. Jesper Koll

Expert Director for the Monex Group and the Japan Catalyst Fund

“We do need to reform the business model of the multinational development banks.（・・・）They need to change this towards a lone-bundle-distribute model to actually free up capital on their own balance sheet and to actually allow global investors to actually participate in these projects given and taking advantage of the information advantage and the expertise that the Asian Development Bank and other MDBs actually bring to the market.”

Dr. Mari E. Pangestu

Managing Director for Development Policy and Partnerships, World Bank

“At this critical time, we welcome the government of Japan’s initiative to achieve both sustainable growth and decarbonization in Asia, through a well-balanced energy transition. ”

Closing remarks

Mr. MINAMI Ryo

Director-General for International Policy on Carbon Neutrality

Past Events

Please click the logo below for the AGGPM 2021.

Please click the logo below for the AGGPM 2022 PUBLIC-PRIVATE FORUM.

Meeting Outline

Asia Energy Transition Initiative

Vision of AGGPM

1 Draw own pathways of Asian nations for the Paris Agreement's goals

2 Promote "Energy Transitions" that balance the economy and the environment

Programme

Part 1: Ministerial Round Table (16:00-18:00)

Welcome Keynote Speech

Ministerial Speeches (5mins each)

Intermission：Introduction of Asia Energy Transition Best Practices (18:00〜18:30)

Introduction of various projects by Japanese companies, which contribute to energy transition in Asia and the Middle East.

Part 2: Private Sector Round Table (18:30-20:25)

Session 1: Transition Finance (18:30〜19:15)

Presentation of Asia Transition Finance Guidelines & Technology List and Perspectives on Transition Finance in Asia

Introduction of ATF related finance supports

Session 2: MoU Signing Ceremony (19:15〜20:25)

Remarks by State Minister of Economy, Trade and Industry

Part 3: Special Messages (20:25-21:35)

Special Messages ~the importance of transition finance and innovation in Asia~

Closing remarks

Past Events

1 Draw own pathways of Asian nations
for the Paris Agreement's goals

2 Promote "Energy Transitions"
that balance the economy and the environment