Prospects of Quality Infrastructure Program and Private Sector MRV for Accelerating the Transition Towards Low-Carbon Energy System

Affiliations

(a) Mitsui & Co. Global Strategic Studies Institute, Tokyo, Japan

Abstract

Transformation of infrastructure, such as energy and transport infrastructure, is crucial for the transition to low-carbon economy. Quality Infrastructure proposed by Japan will be effective but its eligibility criteria should be adjusted to accommodate ASEAN economy. Monitoring, Reporting and Verification (MRV) is a useful instrument for distinguishing Quality Infrastructure and providing financial support effectively. Carbon market is an option for the use of MRV and will support Quality Infrastructure. In Asia, a new carbon market is emerging and Carbon Club will push its development by stabilizing carbon market and mitigating political risk. Voluntary action, such as carbon disclosure and shadow carbon piece, is expected to push the transition but its technical barrier is having a reliable MRV in place. Alliance for MRV and Carbon Club is recommended as a part of ASEAN Economic integration.

Cite

Hongo T. (2018) Prospects of Quality Infrastructure Program and Private Sector MRV for Accelerating the Transition Towards Low-Carbon Energy System. In: Anbumozhi V., Kalirajan K., Kimura F. (eds) Financing for Low-carbon Energy Transition. Springer, Singapore. https://doi.org/10.1007/978-981-10-8582-6_14