Clean Energy Partnership (CEP) at India-Japan 14th Annual Summit
During the recently concluded 14th India-Japan Annual Summit, it was resolved to take forward the “India-Japan Special Strategic and Global Partnership”.
India and Japan are involved in both the Quad and ASEAN groupings. At the same time, the two countries also support a shared vision with regard to the Indo-Pacific region.
India has been the largest recipient of Japanese Official Development Assistance (ODA) for the past few years.
A look at the 14th India-Japan Annual Summit:
During this summit both the countries started the Clean Energy Partnership (CEP). It has been launched under the overall scope of the “India-Japan Energy Dialogue” established in the year 2007.
Its objective is to cooperate in respect of the following:
- With regard to achieving sustainable economic growth,
- With respect to addressing climate change, and ensuring energy security.
During this, the commitment was reiterated to continue the discussion for the establishment of Joint Crediting Mechanism. Its purpose is to ensure the implementation of Article 6 of the Paris Agreement relating to private capital flows into developing countries.
A Memorandum of Cooperation (MoC) has been signed between the two countries on Sustainable Urban Development.
Japan will join the climate initiative called “LeadIT”. It is a kind of climate initiative between India and Sweden. It has been launched to promote conversion to heavy industry.
Here LeadIT stands for Leadership Group for Industry Transition: LeadIT.
It is a voluntary initiative to move towards low carbon. Under this, the focus has been particularly on hard-to-abate sectors like iron and steel, aluminum, etc.
- It refers to a sector where transformation is difficult as compared to other sectors. The lack of technology in this sector or the high cost makes conversion difficult.
- Also, the Indian Prime Minister reiterated India’s support for Japan’s candidature for a non-permanent seat in the United Nations Security Council (UNSC) for the year 2023-2024.
- Article 6 of the Paris Agreement recognizes certain parties to continue voluntary cooperation in the implementation of their Nationally Determined Contributions (NDCs).
- Under this, the Parties promote sustainable development and environmental integrity with high ambition in their mitigation and adaptation actions.
Source – The Hindu