Despite the climate -friendly promises, Japan invests large in LNG. world News

Japan is one of the world’s largest public financial financers of gas and oil production, despite the pledge to prevent all such funding for fossil fuels at the G7 Summit in 2022.According to a report by the South Korea-based solutions for Under Climate (SFOC), from 2013 to 2024, Japanese public financial institutions provided $ 93 billion (€ 82 billion) investment for oil and gas projects.The amount of foreign liquefied natural gas (LNG) development projects was $ 56 billion of this financing.In the same period, the report estimates that $ 24.5 billion is estimated in funding for clean energy projects.“Japan’s international influence in energy financing, and especially fossil fuel finance, is very large,” said Walter James, a private advisor to focus on Japan’s climate and energy policies.“This is actually in the fossil fuel supply chain … for real use and power plants from investigation, production, transportation and power plants.”The US-based Research Center, Institute for Energy Economics and Financial Analysis (IEEFA), calls the “Japanese model” of LNG investment, to encourage Japan to encourage the decades of policy development in “LNG export projects”, “Japan has turned into the lead driver of LNG development in Asia Pacific.A report from IEEFA states that Japan benefits in two ways: by over reaching the LNG supply for its domestic energy needs, and “the demand centers improved access to the centers where the Japan surplus could re -useless LNG.”The IEEFA report stated, “LNG of Japan has reconsidered the foreign markets, indicating changes in its role within the global LNG market,” the IEEFA report said.Another IEEFA report shows Australian LNG as the top source of supply in third countries for Japanese LNG shipment. At the same time, Japan depends on energy imports to fuel its economy, with low domestic access to fossil fuels. According to data cited by the Asia Natural Gas and Energy Association, oil, coal and LNG make more than 83% of Japan’s primary energy mixture.Japanese ‘Greenwash’ with LNG?After a pledge of Japan’s fossil fuel at the 2022 G7 summit to prevent fossil fuel projects, it launched the Asia Zero Emissions Committee (Azec) with partner countries in Asia to provide a platform for collaboration for “pure zero emissions in the Asia region” in Asia.In August 2024, a total of 70 memorandums (MoUs) were signed with 11 countries including Australia, Brunei, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand and Vietnam.However, many projects focus on developing natural gas, ammonia and carbon capture storage (CCS) technology.LNG is considered a “transitional fuel” for Japan’s partner countries in Azec.However, a 2024 study by Cornell University found that LNG includes 33% more emission than coal, when processing and shipping are considered.Lofols in Japan’s G7 pledge allow investments in LNG projects, even though it contributes to greenhouse gas emissions, Hiroki Osaka, Friends of the Earth Japan, Development Finance in NGO’s friends according to finance and environmental campaigner.Osada said that Tokyo’s pledge was based on “unbetured fossil projects”, so if the countries decide that the projects are “abated” like people using CCS, they can go further.“Unbited” refers to using fossil fuels without taking any measures to reduce the greenhouse gas emissions such as CCS. On the other hand, fossil fuels use measures to reduce emissions.“This is a form of greenwashing,” Osada told DW. “Another flaws are that even though the projects are considered ‘without thinking’, if they say they align with the 1.5-degree energy scheme [Paris Agreement] Or energy is necessary for security and diplomacy, they are appropriate. ,Indonesia as an exampleIndonesia signed a deal in November 2022 to raise $ 20 billion in public and private finance at the G20 summit under the leadership of US and Japan.According to Osada, Japan helped write “Indonesia’s long -term energy scheme”, so there would be a demand for gas. ,“A lot of renewable capacity is available and it is really cheap and more beneficial for the whole of Southeast Asia, while LNG is very expensive and if there is any blackout they cannot import,” he said.According to the calculation of the Indonesian Energy and Environment Policy Research Center Institute for Essential Services Reform, an Indonesian Energy and Environmental Policy Research Center in Indonesia is higher than the renewal of natural gas in Indonesia.Indonesia is also the world’s largest coal exporter, and coal includes more than 40% of its energy consumption. To take out coal and oil, Indonesia launched a $ 1.5 billion LNG distribution project to feed power plants in March.However, the policy strategist at Indonesian NGO Serah, Vikasono Gitavon, told DW that more foreign investment in LNG would disrupt Indonesia’s future infection to renewable energy.“I really feel that Japan should quit investing in gas [in Indonesia] And pushing for renewal, “Gitavon said.“We already have a coal infrastructure. They are now insisting for gas, and gas is a big investment, so it will be another lock-in. If we have a infrastructure of gas in Indonesia, I don’t think we will be able to achieve energy infection. ,Energy Policy Advisor James said that Japan is also meeting the demand for technology and investment from countries like Indonesia.“Indonesia came with its own energy transition strategies and includes things like natural gas and LNG, coal firing with ammonia and hydrogen – would prefer to sell and invest to Japan,” he said.The third AZEC meeting is held in Malaysia this September.