Prime Minister Pham Minh Chinh at the AZEC Summit. (Photo: WVR/Duc Khai)

The event was attended by leaders of member countries of the Association of Southeast Asians Nations (ASEAN), Japan, and Australia.

In his remarks, Prime Minister Chinh pointed out that growing impacts of climate change require the international community show determination and take practical actions to achieve the target of net zero emissions.

He affirmed that with its sense of responsibility towards the globe and its entire people, Vietnam has carried out many strong measures with a new mindset and approach to realise the commitments made at the 26th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP26), notably building the national strategy for climate change, the green growth strategy, the 8th National Power Development Plan that eyes the majority of renewable energy in the energy structure, and the plan on growing 1 million ha of high-quality and low-emission rice; making and implementing the Nationally Determined Contributions plan; issuing the plan on implementing the Just Energy Transition Partnership (JETP); and announcing the resource mobilisation plan for the JETP implementation.

To help reach the targets of AZEC, he proposed that cooperation should be focused on researching, developing, and diversifying clean energy sources and new technologies; stepping up technology transfer to ensure clean energy sources are broadly accessible and affordable in Asia; and ensuring energy transition suits each country’s conditions.

Delegates of AZEC Summit in a group photo. (Source: WVR/Duc Khai)

It is necessary to further promote new climate finance mechanisms, public - private partnership, and cooperation in the private sector to facilitate developing countries’ access to concessional capital sources. Cooperation should also be strengthened in the training of high-quality human resources, smart governance, and the perfection of a modern, suitable, and effective market mechanism for each country, the Government leader of Vietnam went on.

He affirmed that with strong resolve and actions as well as developed countries’ active and effective assistance for developing ones, the goal of a zero-emission Asia will come true, thereby securing prosperity for Asian countries and a sustainable future for the whole world.

At the event, Japanese Prime Minister Kishida Fumio noted that AZEC plays an important role in promoting innovation; supporting the formation of transparent, resilient, strong, and trustworthy supply chains; expanding the market of clean energy and advanced technology; boosting the coordination of energy transition policies; and enhancing public - private partnership and cooperation in the private sector to accelerate energy transition in the region.

Highly valuing Japan’s initiative to hold the first AZEC Summit, ASEAN countries and Australia said AZEC is an important forum for members to share information about each country’s efforts to maximise regional cooperation potential to help with energy transition appropriate to each nation.

They also pledged close coordination to achieve all the three targets of carbon emission reduction, energy security, and economic growth in Asia.