Tokyo, 25 September 2023: The Ministerial Plenary Session of the Tokyo GX (Green Transformation) Week 2023 was held by Japan's Ministry of Economic, Trade, and Industry (METI) on 25 September in Tokyo. Attended by thirty-five countries and international organizations, the Plenary Session was organised as a forum to disseminate the perspectives and initiatives of representatives of each country and international organizations for accelerating efforts toward net-zero emissions.

Japan's Minister of Economy, Trade, and Industry (METI) Nishimura Yasutoshi opened the Plenary Session, highlighting Japan’s perspective on decarbonization pathways with selected low-carbon technologies such as hydrogen, ammonia, and carbon capture utilization and storage (CCUS), and activities through the Asia Zero Emission Community (AZEC).

The Economic Research Institute for ASEAN and East Asia (ERIA) delegation was headed by its President Tetsuya Watanabe, who spoke of how there are different interpretations of 'energy transition' among developed and developing countries with regard to the consistency of energy transition pathways and targets – whether the 1.5 degrees goal or the Paris Agreement temperature goal.

ERIA’s scenario analysis on transition pathways pointed out the role of fossil fuels in the coming decades to support growing regional energy demand. Thus, not only green technologies but also transition technologies are required for early, partial, and deep decarbonization. Following the deployment of green and transition technologies, sustainable and massive transition finance and investment are critically needed. Cross-sectoral collaboration is also crucial as enablers to provide policy support for decarbonization roadmaps and transition finance.

Considering these perspectives are highly consistent with the founding principles of AZEC, President Watanabe emphasized ERIA is willing to make a strong contribution to AZEC, aiming for a clean, sustainable, just, affordable, and inclusive energy transition toward carbon neutrality in the Asian region.