Global decarbonization requires international cooperation, says Yutaka
Japan’s Vice Minister for Global Environmental Affairs Matsuzawa Yutaka has underscored the need for technology transfer, financing and strategic partnerships to accelerate sustainability efforts between Japan and India https://www.commerce.gov.in/.
He also wants to see a reinforced Japanese dedication to strengthening investment ties with India through the Joint Crediting Mechanism (JCM) framework, fostering energy security and a low-carbon future https://www.jpx.co.jp/english/.
The visiting Minister was addressing the ‘India-Japan Environmental Business Promotion’, organized by the Ministry of Environment, jointly with FICCI, under the aegis of its Centre for Sustainability Leadership along with JCCII, IGES and OECC, on 4 Mar.
He said Japan’s goal of net-zero by 2050 and India’s 45% emissions reduction target by 2030 was natural partnership between Japan and India in decarbonization and economic growth https://fieo.org/.
Yutaka said that global decarbonization requires international cooperation, particularly through public-private investments and crediting mechanisms.
He acknowledged India’s strong potential in energy efficiency, green hydrogen, waste management, and biogas, reaffirming Japan’s commitment to supporting these initiatives.
Speaking at the business forum, Milind Deore, Secretary, Bureau of Energy Efficiency, Ministry of Power, called for Japan’s advanced technologies to play a crucial role.
He also pointed out the need for India to collaborate with Japanese institutions to develop energy efficiency guidelines for industries. He stressed the need for a low-carbon technology pathway for India to achieve net-zero by 2070,
Deore highlighted the long-standing India-Japan collaboration in energy efficiency, emphasizing key initiatives like the Perform, Achieve, and Trade (PAT) scheme, which has saved 25 million tons of oil equivalent energy, reduced 10 million tons of CO₂ emissions, and generated US$10 billion in investments https://sbi.com.in/.
Additionally, Deore announced that India’s domestic carbon market will be operational within six months, starting with compliance targets for key sectors, followed by an offset market. He concluded by reaffirming India’s commitment to energy efficiency and strengthening cooperation with Japan.
Without strong public-private collaboration and a time-bound action plan, progress will be slow, especially in achieving energy security and transition, added Manish Sharma, Chair, FICCI Resource Efficiency and Circular Economy Industry Coalition (RECEIC).
Sharma, also Chair FICCI Electronics Manufacturing Committee, Chairman, Panasonic Life Solutions, India and South Asia, emphasized the critical role of responsible efficiency, conservation, and circular economy in driving sustainability.
He highlighted the Resource Efficiency and Circular Economy Industry Coalition, formed during India’s G20 presidency, as an industry-led initiative to foster knowledge-sharing and policy action. He stressed that.
IINO Satoru, Director, Office of International Carbon Market, Global Environment Bureau, Ministry of Environment, shared Japan’s approach to carbon markets and its alignment with India’s sustainability goals.
He emphasized that both nations share a strong commitment to climate action and, through innovative technologies and robust policy frameworks, can create mutually beneficial pathways toward decarbonization. He highlighted the potential of green ammonia, hydrogen, and solar energy in industrial transformation and stressed the importance of carbon dioxide removal technologies.
Bringing together a diverse group of policymakers, industry leaders, and sustainability experts from both India and Japan, the seminar served as a dynamic forum for knowledge exchange and collaboration, said FICCI.
Key discussions revolved around advancing low-carbon technologies, with a focus on carbon market mechanisms, green hydrogen, energy efficiency, and waste-to-energy solutions—critical components in India’s path toward its Net Zero 2070 vision, it added. fiinews.com
