The world’s third- and the seventh- largest economies respectively have agreed to work together for addressing energy security, energy access and climate change issues, according to a joint statement released yesterday at the 9th India-Japan Energy Dialogue held in New Delhi.

Both the countries have agreed to initiate the discussion on electric vehicles (EVs), and a commitment to work together in promoting well-functioning energy markets. The Minister of State (Independent Charge) for Power and New and Renewable Energy, R K Singh, and Japan’s Minister of Economy, Trade and Industry (METI) Hiroshige Seko signed the joint statement at the meeting.

As part of the bilateral understanding India and Japan have recognised that having access to reliable, clean and economical energy is critical for their economic growth and for achieving this, both the countries have agreed on further strengthening bilateral energy cooperation for energy development, while also contributing towards worldwide energy security, energy access and climate change issues.

Both the countries aim to implement Nationally Determined Contributions (NDCs) under the aegis of the United Nations Framework Convention on Climate Change (UNFCCC), which recognises the importance of development and deployment of next generation technologies including hydrogen to realise de-carbonisation.

The Asian countries understand the relevance of the grid stability given the high penetration of variable renewable energy, and have agreed to initiate discussion towards development of electric vehicles (EVs) by collaborating with "Policy dialogue on next generation/zero emission vehicles".

Furthermore, the partners reiterated importance of coal-based electricity generation in the energy mix in both the countries and also agreed to promote the cooperation on environmental measures for coal-fired power plants. They have also confirmed their commitment to work together in promoting well-functioning energy markets and affirmed to promote transparent and diversified Liquefied Natural Gas (LNG) market through the relaxation of destination clause.

Image courtesy: R K Singh office/Twitter