Japan's Prime Minister Kishida Fumio has pledged to lead efforts to achieve carbon neutrality in Asia by utilizing his country's technological prowess and other strengths.

Kishida expressed his determination in the first summit on Monday of the Asia Zero Emission Community, or AZEC, which brought together leaders from Japan and members of the Association of Southeast Asian Nations.

The AZEC initiative was proposed by Kishida. The meeting was held at the prime minister's office in Tokyo.

Kishida said decarbonization is a common challenge for Asia and that innovation will be the key to achieving it.

He stressed that establishing AZEC will lead to the creation of a new, vast decarbonization market, attracting investments from across the world to Asia.

He said Japan will take the lead in pushing for technological development and improving legal systems.

The participants agreed that a diversified approach is needed to achieve carbon neutrality in ways tailored to the circumstances of each country.

They confirmed that they will aim for the goal by balancing such efforts with economic growth and ensuring energy security.

The participants also agreed to set up the Asia Zero Emission Center in Indonesia, which will function as the core institution of the initiative by supporting policy planning and research of each nation.

They also confirmed their intention to establish a panel of experts comprising members of the participating states.