Page 99 - Ebook HTKH 2024

However, in many ASEAN countries, awareness of the green economy is still limited,
consumption habits and traditional economic development still dominate.

3.3. Trends and prospects for green economic growth in ASEAN
Green economic growth is a promising new trend in the ASEAN region. The green
economy has been the subject of many high-level meetings and ministerial conferences
within the bloc, leading to joint statements on the green economy.
At the 38th ASEAN Summit, member states issued a joint statement: The region
will strive to promote a green economy by linking and cooperating with stakeholders
such as the private sector, including micro, small and medium enterprises, financial
institutions, youth, scientific and academic communities. All forms of cooperation must

comply with international law, including the Charter of the United Nations, UNCLOS
1982, other relevant treaties and conventions of the United Nations, the ASEAN Charter
and relevant ASEAN agreements and principles. The leaders agreed to explore green
economy cooperation in various fields and strengthen cooperation among member
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states .
Recognizing the importance of reducing emissions and setting decarbonization

targets, 9 out of 10 ASEAN member states pledged to achieve net zero emissions by
2050 at COP26 in Glasgow (UK) in 2021. Achieving these goals largely depends on a
successful transition to renewable energy sources.
At the 38th ASEAN Energy Ministers' Meeting (AMEM) held online on
November 19, 2020 hosted by Vietnam, members approved the ASEAN Action Plan for
Energy Cooperation (APAEC) phase II for the 2021-2025 period. Building on the
success of APAEC Phase I 2016-2020, Phase II sets ambitious goals and initiatives to

enhance energy security and sustainability, including achieving a 23% share of
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renewable energy in the total energy supply by 2025 .
At the 42nd and 43rd ASEAN Summits held in Indonesia in 2023, ASEAN
members also adopted a number of green transition statements, including the Joint
Declaration on the Development of the Electric Vehicle Ecosystem in the Region with
Bloc Partners, The ASEAN Strategy on Carbon Neutrality and the ASEAN Green

Economy Framework aim to strengthen cooperation among member states on the green
economy through an integration, an interdisciplinary and multi-stakeholder approach.
At the 43rd ASEAN Summit, the bloc's achievements mainly focused on green
economic growth cooperation with the ultimate goal of balancing economic growth with
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environmental protection .
ASEAN summits, ministerial meetings, and conferences on climate change
indicate that in order to achieve green economic growth goals, countries in the region
have specific orientations that are similar to global efforts, including reducing

41 The Milky Way (2024). ASEAN economic bright spot.
42 Green Growth: Opportunities, Challenges and Implementation Orientations for Vietnam.
https://rrsd.org.vn/tap-chi-online/so-tap-chi/tang-truong-xanh-co-hoi-thach-thuc-va-dinh-huong-thuc-hien-cho-viet-nam.html
43 Nguyen Duc Trong (2023). Experience in promoting green economic development in the world and lessons for
Vietnam.

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