Bali, 23 August 2023: The Economic Research Institute for ASEAN and East Asia (ERIA) took part in the East Asia Summit Energy Cooperation Task Force Meeting in preparation for the 17th East Asia Summit (EAS) Energy Ministers Meeting. Other attendees included ASEAN Member States (AMSs), EAS participating countries, and international organizations such as the International Renewable Energy Agency (IRENA) and the ASEAN Centre for Energy (ACE).

Professor Jun Arima, ERIA Senior Policy Fellow on Energy and Environment, and Toru Furuichi, ERIA Director General for Research and Policy Design Administration, presented highlights of ERIA’s energy policy research.

In accord with the outcomes of the Paris Agreement and the Glasgow Climate Pact, ERIA's energy research has been increasingly focused on climate change-related subjects, particularly the ASEAN decarbonization scenario. The necessity of transition technologies is abundantly demonstrated by ERIA's scenario study on the carbon neutrality road. The deployment of transition technologies necessitates investment, which is why transition finance is so important.

ERIA is currently participating in the Asia Transition Finance Study Group (ATF SG), which is looking into ways to facilitate transition finance in the region, which includes 20 commercial banks, six development banks and export credit agencies (ECAs), and thirteen public agencies and financial groups.

Concluding his presentation, Prof Arima emphasized the Asian region should speak up in the global debate to achieve a seamless, realistic, and systematic energy transition.