Leaders from 16 Asian and Pacific countries signed an energy agreement during the Second East Asia summit which will reduce the region's dependence on fossil fuels and increase the use of renewable energy, including hydro power.
During the summit – held in Cebu, Philippines, on 15 January – member countries of the Association of Southeast Asian Nations (ASEAN), Australia, People’s Republic of China, India, Japan, Republic of Korea and New Zealand agreed to work closely to meet growing energy needs.
As part of the Cebu declaration, the countries aim to:
* Improve the efficiency and environmental performance of fossil fuel use.
* Reduce dependence on conventional fuels through intensified energy efficiency and conservation programmes, further use of hydro power, expansion of renewable energy systems and bio-fuel production/utilisation, and for interested parties, civilian nuclear power.
* Encourage the development of open and competitive regional and international markets geared towards providing affordable energy at all economic levels.
Mitigate greenhouse gas emission through effective policies and measures, thus contributing to global climate change abatement.
* Pursue and encourage investment in energy resource and infrastructure development through greater private sector development.
The agreement also recognised the need to pursue energy policies and strategies best suited to each country’s national circumstances, which will lead to sustainable development.