Ministers from IPEF Announce Plans to Initiate 4 Clean Economy Projects


Ministers from IPEF Announce Plans to Initiate 4 Clean Economy Projects

Ministers from 14 countries, including Japan, the United States, South Korea, and Australia, are discussing the Indo-Pacific Economic Framework for Prosperity. They have agreed to launch four projects in the clean economy sector, like promoting sustainable aviation fuel distribution. Additionally, these countries will contribute a total of 33 million dollars to a fund aimed at helping emerging economies decarbonize.

During virtual discussions led by the U.S. Commerce Department, the 14 countries focused on clean and fair economies as well as supply chains. These discussions built upon conclusions reached in November and a deal related to supply chains that recently went into effect. They also plan to continue negotiations on trade and will hold an in-person ministerial meeting in Singapore in June.

One of the notable projects highlighted was a Japan-led initiative to utilize hydrogen, which was initially agreed upon in May. The 14 countries reaffirmed their commitment to the project and discussed its progress. This collaboration aims to further the development of clean energy solutions and enhance economic cooperation among the participating nations.

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