A ministerial meeting of the Indo-Pacific Economic Framework (IPEF), which includes Japan, the United States, and others, was held online on the 14th, calling for investment of at least $120 billion by 2030 in renewable energy generation and electricity storage. We agreed to promote this.
IPEF is an economic partnership framework involving 14 countries including Japan, the United States, India and Australia, and is aimed at countering China's increasing influence in the Indo-Pacific region. Agreement in the field of "supply chain" comes into effect. In addition, substantial agreements have been reached in two areas, including the ``clean economy,'' which promotes investment toward decarbonization.
At this meeting, discussions were held toward the creation of an agreement on a "clean economy," with the aim of promoting new renewable energy generation and electricity storage, with the goal of at least $120 billion in Japanese yen by 2030. They agreed to include the promotion of over 17.7 trillion yen in investment.
In addition, Japan, the United States, Australia, and South Korea will participate in a fund established in November last year to help decarbonize emerging countries, and it has been confirmed that they will provide a total of $33 million in financial cooperation. That's what I mean.
The next IPEF ministerial meeting is scheduled to be held in Singapore this June, and we are also planning to hold a forum to call for investments in decarbonization.