Summary of Session3 - GX -

The video covers Session 3 - GX (Green Transformation) at the Japan-ASEAN Economic Co-Creation Forum 2024, focusing on collaborative decarbonization efforts between Japan and ASEAN countries. The session highlights the challenges and opportunities in achieving carbon neutrality across Asia through technology, finance, and policy cooperation.

Main Plot and Highlights:

Setting the Scene: The moderator, Mr. Kihara, outlines the energy and decarbonization landscape in Asia, emphasizing the reliance on coal and natural gas despite carbon neutrality goals. Japan’s approach is based on achieving a "triple breakthrough" — emission reduction, economic growth, and energy security — simultaneously, through diverse pathways and technology neutrality (including renewables, hydrogen, CCS, nuclear, etc.).
Asia Zero Emission Community (ASAC): Japan and 10 ASEAN countries promote ASAC to coordinate decarbonization efforts, focusing on visualization of emissions, transition finance, and sector-specific initiatives in power, transportation, and industry. The forum discussed ongoing projects and the importance of sharing technology and financing expertise.
Private Sector Initiatives:
- Zero Board (Japan/Thailand): Mr. Ono introduces their CO2 emission calculation and ESG management platform, highlighting a project in Indonesia’s industrial park to visualize and reduce emissions across multiple tenants. Challenges include convincing companies of benefits, navigating complex regulations, and ensuring ongoing data management.
- BRG Group (Vietnam): Madame Gwena presents their smart city and industrial park project near Hanoi integrating renewable energy, energy-saving technologies, and Japanese cooperation. They emphasize energy balancing between industrial and residential areas and aim to create a sustainable model city for ASEAN.
Financial Sector Role:
- Mizuho Financial Group: Mr. Tada discusses Mizuho’s deep ties with high-carbon industries and their leadership in transition finance, stressing the need for clear rules and private-public partnerships to manage risks and promote investments in decarbonization.
- Japan International Cooperation Bank (JIC): Mr. Suzuki details JIC’s proactive role in supporting power projects across ASEAN, including Vietnam, Indonesia, the Philippines, and Malaysia. He highlights the importance of cross-border transmission lines, energy-saving technologies, and regulatory reforms to enable clean energy flows.
Key Themes:
- Rulemaking and Common Standards: Panelists agree on the critical need for common definitions and regulations around “transition finance” and decarbonization efforts to ensure predictability and enable financing.
- Connectivity: Both physical (power transmission lines) and institutional (public-private coordination, cross-country dialogue) connectivity are essential to scale decarbonization in Asia.
- Energy Efficiency: Beyond renewable energy, energy conservation and efficient use of existing resources are stressed as vital components of the transition.
- Collaboration: Japan’s role as a technology and finance partner is emphasized, with expectations for continued knowledge sharing, policy support, and financial assistance.

Notable Reactions and Jokes:

The discussion is formal and focused, with no overt jokes or humor. However, there is a warm invitation from Madame Gwena to visit Vietnam and see the smart city project, adding a personal and welcoming touch to the session.

Conclusion:

The session concludes by affirming the momentum of Green Transformation in Southeast Asia and the essential role of transition finance, technology, and coordinated rulemaking under the ASAC framework. Japan and ASEAN aim to create a regional model for sustainable economic growth alongside carbon neutrality, emphasizing connectivity and collaboration among governments, industries, and financial institutions.

Personalities Appearing:

Moderator: Mr. Kihara (Director General for International Policy on Carbon Neutrality, Japan)
Mr. Taii Ono (Managing Director, Zero Board Inc.)
Madame Gwena (Chairman, BRG Group, Vietnam)
Mr. Tada (Operating Officer, Mizuho Financial Group)
Mr. Suzuki (Head of Power and New Energy, Japan International Cooperation Bank - JIC)

Notable Quotes

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