Shanghai [China], May 30: Japan has contributed JPY90.1 million to support regional cooperation on clean, resilient and efficient energy solutions as rising electricity demand from digitalization and artificial intelligence places new pressure on energy systems across the Asia-Pacific.
The contribution was formalised in a memorandum of understanding signed on the sidelines of the Second Asia-Pacific Economic Cooperation (APEC) Senior Officials' Meeting in Shanghai by Tamura Hideyasu, Japan's Senior Official for APEC, and Eduardo Pedrosa, Executive Director of the APEC Secretariat.
The Sub-Fund for Energy Efficiency, Low-Carbon and Energy Resiliency Measures supports cleaner, more robust energy systems across the region. Funding will help advance clean energy technologies, protect disaster-prone communities and broaden access in rural and remote areas.
The contribution also advances progress toward APEC's energy goals, including a 45% reduction in energy intensity by 2035, doubling renewable energy by 2030 and improving energy access across developing economies.
"Energy systems across the region are changing rapidly, creating new demands as economies pursue growth and innovation," said Pedrosa.
Source: Emirates News Agency