2022.11.9 WED

13:00 - 14:30

Mobilizing Finance to Facilitate Energy Transition and Decarbonization in ASEAN

Organizer

Ministry of Economy, Trade and Industry

Seminar abstract

This side event focuses the decarbonising finance which is essential for the realization of decarbonising projects. In particular, this event focuses on CEFIA (Cleaner Energy Future Initiative for ASEAN), which contributes to the energy transition and the decarbonisation of ASEAN. In the seminar, the situation of the transition finance toward decarbonisation and the specific activities of financial institutes in ASEAN are introduced. And the expected roles of CEFIA toward the mobilization of decarbonising finance in ASEAN are discussed.

【Agenda of the Event】

1. Greetings and introduction
   "Introduction to CEFIA"
   Mr. Shinichi Kihara, Deputy Director-General for Technology and Environment, Ministry of Economy, Trade and Industry
2. Presentations
   "Introduction of Japan’s Asia Energy Transition Initiative(AETI) to accelerate Asia’s transition finance towards a decarbonized economy"
   Ms. Ayaka Nojiri, Deputy Director for International Affairs (Asia Energy Transition Initiative), Agency for Natural Resources and Energy, Ministry of Economy, Trade and Industry
   "Financing Programs for Accelerating Energy Transition in Southeast Asia"
   Mr. Ramesh Subramaniam, Director General, Asian Development Bank
   "Opportunities and challenges in financing energy transition in the ASEAN region"
   Ms. Yukimi Shimura, Director of Sustainability Business Division, Mitsubishi UFJ Bank Ltd.
   "The Path to Net Zero by a local ASEAN bank"
   Mr. Helge Muenkel, Chief Sustainability Officer, DBS Bank Ltd.
3. Discussion
   Moderator:
   Mr. Enrique I. Florencio, Secretary General, Association of Development Finance Institutions in Asia and the Pacific
   Panelists:
   
   • Ms. Ayaka Nojiri
   • Mr. Ramesh Subramaniam
   • Ms. Yukimi Shimura
   • Mr. Helge Muenkel
4. Closing remarks: Mr. Shinichi Kihara, Deputy Director-General for Technology and Environment, Ministry of Economy, Trade and Industry

Speakers

【Local Speakers】

• Mr. Shinichi Kihara（Ministry of Economy, Trade and Industry） Deputy Director-General for Technology and Environment
• Mr. Ramesh Subramaniam（Asian Development Bank） Director General
• Ms. Yukimi Shimura（MUFG Bank, Ltd.） Director
• Mr. Helge Muenkel（DBS Bank Ltd.） Chief Sustainability Officer

【Online Speakers】

• Ms. Ayaka Nojiri（Ministry of Economy, Trade and Industry） Deputy Director
• Mr. Enrique I. Florencio（Association of Development Financing Institutions in Asia and the Pacific） Secretary Genera

Session Summary

This seminar focused on the decarbonizing finance which is essential for the realization of decarbonizing projects. Also, this seminar focused on the public-private collaboration initiative CEFIA (Cleaner Energy Future Initiative for ASEAN), which contributes to the energy transition and the decarbonization of ASEAN. And the current activities and challenges in promoting the transition finance, one of decarbonizing finances, in ASEAN were presented and discussed in this seminar.
In the presentation session, Ministry of Economy, Trade and Industry introduced “Asia Transition Finance Guidelines” for financial institutions released by the Asia Transition Finance Study Group led by Mitsubishi UFJ Financial Group. Then the financial institutions in Asia introduced their unique activities in the field of transition finance.
In the discussion session, the panelists discussed the challenges in promoting transition finance in ASEAN and their expectations for CEFIA. As a result of the discussion, it was pointed out that it is important for ASEAN countries to formulate clear policies and frameworks in the field of transition finance, and that CEFIA is expected to make recommendations on the policies and frameworks to ASEAN governments through the framework of public-private collaboration.

Message and Results

Ministry of Economy, Trade and Industry will contribute to the energy transition and the decarbonization of ASEAN through the activities of CEFIA and the promotion of transition finance.
Video archive in CEFIA Digital Platform:
https://www.cefia-dp.go.jp/cop27event