Many of Asian countries are rapidly developing now and are expected to grow in the future. It is essential to ensure a stable energy supply to meet the rapidly growing energy demand.

AZEC (Asia Zero Emission Community) is a Platform for cooperation towards carbon neutrality/net-zero emissions in the Asia region, involving partner countries from 11 nations (Australia, Brunei Darussalam, Cambodia, Indonesia, Japan, Lao PDR, Malaysia, Philippines, Singapore, Thailand, and Viet Nam). At the 2nd AZEC Leaders Meeting held in Laos on October 2024, the leaders of the AZEC partner countries adopted on the AZEC Leaders’ Joint Statement, including the Action Plan for the Next Decade.

The joint statement states that AZEC partner countries’ collective focus will be on fostering a favorable business environment through policy development and coordination as appropriate, aligning decarbonization efforts with sustainable economic growth in Asia, while promoting tangible projects to support the energy transitions, in line with AZEC partner countries’ respective transition pathways.

In addition, AZEC aim to promote an “Action Plan for the Next Decade” based on three pillars, creating a positive cycle that encourages decarbonization in partner countries.

To promote cooperation under the AZEC platform, it is important to recognize each country’s unique circumstances, existing targets or policies and developmental challenges. On the other hands, AZEC is not only discussing principles and policies. Not only through intergovernmental dialogue, but also with the participation of private enterprises, it is working on tangible projects by accelerating cooperation in technology, finance, and capacity building.

This session aims to explore the challenges of advancing specific projects while allowing various companies to share their progress on these initiatives, all from the perspectives of Technological Innovation, Regional Power Trade & Market Integration, Energy Efficiency, and Private Sector Partnerships and Financing.