Manila: The Association of Southeast Asian Nations (ASEAN) has reaffirmed its collective ambition to accelerate the region's transition toward carbon neutrality and sustainable growth by 2030.
According to Philippines News Agency, in the ASEAN chair's statement released Saturday, the group welcomed the progress in the implementation of the ASEAN Regional Investment Action Plan 2025-2030, which seeks to attract foreign investment in green transition and post-pandemic priority recovery sectors. These include carbon capture and storage, biofuels, medical devices, solar photovoltaic equipment, veterinary healthcare, and green and sustainable building materials.
The ASEAN leaders also reaffirmed their commitment to accelerating the implementation of ASEAN Plan of Action for Energy Cooperation 2026-2030, which aims to strengthen the region's energy security and resilience. The plan emphasizes diversification of energy sources, expansion of renewable and emerging technologies, improved energy efficiency, and enhanced cooperation in areas such as petroleum security, smart grid digitalization, and carbon capture, utilization, and storage (CCUS).
The regional bloc looks forward to the ASEAN Strategy for Carbon Neutrality Work Plan, which will operationalize the ASEAN Strategy for Carbon Neutrality through clear priorities, shared objectives, and coordinated action to decarbonize regional value chains. The group noted the strategy's transformative potential in advancing sustainable and resilient economic growth, while strengthening the region's position as 'an attractive and competitive destination for green investments to support an inclusive climate transition.'
The member-states highlighted ongoing efforts to develop the roadmap, which will serve as critical pathways to practical and context-specific initiatives to advance the physical, financial, human, social, and natural capital of ASEAN's blue economy. They expressed optimism about the positive outcomes of the ASEAN Blue Carbon and Finance Profiling project, which will map blue capital assets and identify sustainable investment opportunities to advance the region's blue economy agenda.
