5th AZEC International Meeting on Carbon Market Development

The AZEC–DCM International Meeting was launched in May 2025 to discuss improving industrial competitiveness by visualizing greenhouse gas emissions across entire supply chains and promoting high-integrity carbon markets. It addresses matters specified in the Action Plan for the Next 10 Years adopted at the 2nd AZEC Leaders’ Meeting in October 2024.

Four meetings have been held to date, deepening discussions on the development of carbon markets.

The 5th meeting was held in Hiroshima, Japan, hosted by the Ministry of Economy, Trade and Industry and the Ministry of the Environment. Relevant climate change and energy ministries, agencies, and private companies from AZEC partner countries participated.

The Japanese government was represented by Masashi Kanno, International Resource and Energy Strategy Coordinator at the Ministry of Economy, Trade and Industry; Masako Ogawa, Special International Negotiator at the Ministry of the Environment; and Hideki Hagiwara, an official in the Minister’s Secretariat at the Ministry of Agriculture, Forestry and Fisheries.

The agenda consisted of an opening plenary; the current status and initiatives concerning carbon pricing; practical applications and advanced cases of carbon credit methodologies aligned with Article 6 of the Paris Agreement; domestic laws and regulations corresponding to Article 6 of the Paris Agreement to promote overseas investment; the development of new approaches for carbon credits, including methodologies for new fields; regional cooperation among AZEC partner countries; and a wrap-up.