AsiaElec: Japan’s green transition continues apace even as bribery allegations surface

On the very same day that the details of a potentially far-reaching memorandum of understanding (MoU) were revealed linking the Japan Bank for International Cooperation (JBIC) and the Abu Dhabi National Oil Company (ADNOC) as part of boosting decarbonisation efforts in both countries, a ruling party lawmaker in Japan was also spotlighted by public prosecutors in relation to receiving bribes to help boost wind installations around the country.

The JBIC-ADNOC agreement itself was initially signed in mid-July during Japanese Prime Minister Fumio Kishida’s visit to the United Arab Emirates as part of Tokyo’s wider goals of developing renewable energy-related technologies to help the world’s third-largest economy work towards carbon-neutrality by 2050.

And as its full details came to light late last week, it became clear that the MoU was intended to complement a long-standing partnership first signed on November 17, 2021; an agreement was followed within 24 hours at the time by the announcement of a $3bn loan issued to ADNOC by JBIC and four other leading Japanese banks.

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