The Association of Southeast Asian Nations (ASEAN) welcomed Japan’s pledge during their special meeting of $10 billion in financial support for its member countries’ decarbonization efforts.

The joint statement issued following the online meeting between ASEAN energy ministers and the Japanese Minister of Economy, Trade. Industry Hiroshi Kajiyama stated that they both agreed on the importance of adequate financing to support the region’s energy transitions, which include measures to reduce carbon dioxide emissions and accelerate the use of renewable energy.

“In light of the unprecedented challenges due to the COVID-19 pandemic, the meeting recognized the urgency of addressing sustainable post-pandemic recovery and affirmed the importance of energy transitions towards sustainable development,” the statement said.

Japan’s “Asia Energy Transition Initiative” will also include “human resources development through various training workshops, studies and reports, and knowledge sharing activities,” it said.

The training on new technologies such as hydrogen use and carbon capture and storage will be provided to around 1,000 people in the region, Japanese officials said.

The initiative is aimed not only at reducing the region’s greenhouse gas emissions but also expanding business opportunities for Japanese companies, they said.

While cooperating toward the United Nations’ climate change conference to be held in November in Glasgow, Kajiyama told the meeting Japan will host the “Asia Energy Green Growth Partnership” ministerial meeting in October.