Building on the success of the Asia Zero Emission Community (AZEC) Summit held in Tokyo, Japan, in December 2023, on October 11, Japanese Prime Minister Ishiba Shigeru chaired the second AZEC Summit as part of the 44th and 45th ASEAN Summits and related meetings in Vientiane, Laos.
Japanese Prime Minister Ishiba Shigeru emphasized that AZEC plays a crucial role as a key platform to promote emissions reduction and enhance regional cooperation to achieve economic development and address climate change. According to Prime Minister Ishiba, 100 memorandums of understanding (MOUs) and cooperation initiatives are currently being implemented, including projects in Indonesia (thermal power projects), Vietnam (electricity distribution systems, carbon market development), and Laos (clean energy projects). AZEC will also promote cooperation in sectors such as industry, transportation, and agriculture.
Prime Minister Pham Minh Chinh stressed that countries need to take more decisive action, with stronger will and determination, in addressing climate change, aiming to achieve net-zero emissions in the Asia region as soon as possible.
To achieve this goal, the Prime Minister shared that Vietnam has been vigorously implementing comprehensive and synchronized measures, particularly through various strategies, policies, and national projects on climate change, green growth, renewable energy development, low-emission agriculture and transportation, promoting the establishment of a carbon credit market, and encouraging green business and procurement activities. Vietnam also prioritizes attracting green investments and financing for research, development of green technology and energy, following the principle of "harmonized benefits, shared risks," ensuring a balance of interests among the state, businesses, and the people.
The Prime Minister expressed support for the idea of establishing an ASEAN electricity market, with countries connected via underground transmission cables, and noted that intergovernmental negotiations on this topic would be pursued.
Prime Minister Pham Minh Chinh urged AZEC member countries to accelerate the research, development, and transfer of new-generation technologies and energy that can reduce greenhouse gas emissions across all sectors of the economy. He also advocated for the creation of sustainable supply chains for green fuels to ensure regional energy security and called for energy transitions tailored to the specific circumstances, capabilities, and development priorities of each country.
The Prime Minister proposed that the parties promote new climate finance models, especially those based on public-private partnerships, to facilitate access to more substantial concessional loans for developing countries. This could include establishing a dedicated AZEC fund to support green projects with preferential, accessible conditions for member nations, as accessing the current $10 billion fund remains challenging.
Additionally, the countries should strengthen policy coordination through the "Asian Zero Emission Center" and enhance cooperation in training high-quality human resources and smart management in energy and green technology across member nations.
The Summit concluded by adopting the "Zero Emission Asia Community Leaders’ Declaration," which serves as a foundation for member nations to implement cooperative activities.