Tokyo, 16 December 2023: The ASEAN-Japan Economic Co-Creation Forum, held on 16 December to commemorate the 50th anniversary of ASEAN-Japan relations, saw the endorsement of a momentous joint statement. This statement, concerning the Asia Zero Emission Community (AZEC) Platform, was signed by the ASEAN-Business Advisory Council (ASEAN-BAC), Keidanren (Japan Business Federation), and the Economic Research Institute for ASEAN and East Asia (ERIA). The statement was welcomed in the presence of Indonesia’s President Joko Widodo and Japan’s Prime Minister Fumio Kishida, ahead of the AZEC Leaders’ Meeting on 18 December.

‘As we mark this milestone in our collective pursuit of a sustainable future, the joint commitment made today signifies a momentous step towards fostering regional collaboration for a cleaner and more resilient energy landscape in Asia. ERIA is honoured to stand alongside our esteemed partners, reaffirming our dedication to driving impactful change and innovation in the realm of clean energy transition,’ said Tetsuya Watanabe, President of ERIA, who signed the statement alongside Bernardino Moningka Vega, Alternate Chair of ASEAN-BAC Indonesia representing ASEAN-BAC; and Masakazu Kubota, President of Keidanren.

The collective statement at its core underscores the recognition of crucial elements: first, the paramount importance of achieving sustainable, inclusive economic growth and guaranteeing energy security while simultaneously advancing decarbonisation. Moreover, it accentuates the importance of a fair and equitable energy transition toward carbon neutrality or achieving net zero emissions through various and practical pathways, acknowledging the different circumstances across Asian nations.

In addition, the statement advocates for an accelerated pace in the decarbonisation efforts encompassing all sectors. This involves leveraging a spectrum of technologies, including energy efficiency, renewable energy, hydrogen, ammonia, and carbon capture, utilisation, and storage (CCUS). The approach seeks to tailor these efforts to the unique contexts of each sector, while simultaneously advocating for transition finance to facilitate these crucial transformations.

Recognising the AZEC as a unifying platform aimed at fostering collaboration among Asian countries to drive clean energy transition alongside ensuring economic growth and energy security, ERIA, ASEAN-BAC, and Keidanren pledged their commitment. This involves promoting the development of practical decarbonisation projects among AZEC partner countries through collaborative information exchange,  seminars, and mission delegations, backed by ERIA’s support. Furthermore, AZEC is expected to bolster existing initiatives such as ASEAN BAC's ASEAN Net ZERO Hub, Japan’s international cooperation Keidanren’s Carbon Neutrality Action Plan, and ERIA’s development of roadmaps for energy transitions and the acceleration of transition finance under the Asia Energy Transition Initiative (AETI).

In addition, ASEAN-BAC and Keidanren agreed to establish AZEC-Advocacy Group. Comprising representatives from ASEAN-Japan relations, ASEAN-BAC, Keidanren, ERIA, and other regional experts, this group aims to provide continuous support for the outlined activities. Its role includes offering advice and endorsement for this collective effort, with ERIA serving as the secretariat.