JAKARTA, 13 June 2023 – The 9th ASEAN Economic Community (AEC) Dialogue took place today at the ASEAN Secretariat, serving as a platform for the private sector to provide views and inputs towards the development of the ASEAN Strategy for Carbon Neutrality.
In his remarks, Deputy Secretary-General of ASEAN for AEC Satvinder Singh shared that ASEAN has amongst the world’s largest natural carbon sinks, accounting for 36% of global cost-effective nature-based solutions potential. This places the region in a unique position, as ASEAN also has an abundance of resources, particularly high critical minerals that are important in energy transition and digital transformation.
He also highlighted the need for ASEAN to take a collective approach that will accelerate the region’s transition towards low-carbon economy, particularly amid external factors that come from rising climate-related regulations and financial incentives to accelerate green transition. He called upon the business communities to take part in the transition by, among others, integrating sustainability into current business models, adopting cleaner technologies, promoting energy efficiency, and investing in renewable energy.
Ambassador of Australian Mission to ASEAN Will Nankervis, in his remarks, highlighted the importance of the ASEAN Strategy on Carbon Neutrality, especially in supporting the region’s transition to low-carbon economy. He underscored Australia’s ongoing support for ASEAN efforts to realise a carbon neutral future.
The dialogue featured a panel discussion consisting of representatives from KADIN – ASEAN Net Zero Hub, EU ASEAN Business Council, PT HSBC Indonesia, and Fairatmos. The panellists shared insights on their experience in transitioning toward more sustainable practices which become increasingly critical with climate change and global warming as well as to meet demands from various stakeholders, including international communities, investors, and consumers. The panel also shared that the transformation towards sustainability presents huge opportunities for business.
The breakout sessions focused on three key issues: (1) Connected green infrastructure, accelerating integration of decarbonized value chains, and embracing circularity in regional trade; (2) Green skill development & mobility, and sharing of best practices; and (3) Interoperable carbon markets, attracting & deploying incremental green capital, and credible & common definitions. The inputs gathered from the dialogue will be incorporated in the study for ASEAN Strategy for Carbon Neutrality, one of ASEAN’s priorities under Indonesia’s Chairmanship in 2023.
The dialogue was organised by the ASEAN Secretariat, with the support of the Australian Government through the Australia for ASEAN Futures – Economic and Connectivity. More than 200 participants consisting of corporate leaders from various industries such as: food and beverage, cement, logistics, shipping, agriculture, carbon offset project developers, textiles, independent power producers, banks, infrastructure financing institutions, digital tech, oil & gas, venture capitals, startups and telecommunication participated in person and virtually.
For further information, please contact the Enterprise and Stakeholder Engagement Division (ESED@asean.org).
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