A new trust fund aimed at promoting low carbon technologies in developing Asian countries has been launched.
The Japanese Government has provided a ¥1.8 billion (£0.010bn) grant for the Japan Fund Joint Crediting Mechanism (JFJCM), which will help finance projects including waste-to-energy schemes, energy efficiency measures and smart grids.
The Asia and Pacific region has become a major source of greenhouse gas emissions and accounted for 43% of the world’s CO2 emissions in 2010, according to the Asian Development Bank (ADB) which is managing the fund.
ADB President Takehiko Nakao said: “The establishment of the JFJCM is a timely step to help meet the demands of the Asia and Pacific region for sustainable low-carbon infrastructure.”
Earlier this year a new platform aimed at attracting clean energy investment in Asia and the Pacific was launched.