Cebu, Philippines (GLOBE-Net) - A group of sixteen Asian and South Pacific nations has signed an agreement to help reduce dependence on fossil fuels and increase the use of alternative energy sources such as biofuels.

The Cebu Declaration on Energy Security was signed at the conclusion of the East Asia Summit, which brought the Association of Southeast Asian Nations (ASEAN) together with Japan, China, South Korea, India, Australia and New Zealand. ASEAN members are: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam.

The document signed by national leaders acknowledges the continued economic importance of fossil fuels in the foreseeable future, but highlights declining reserves, unstable fuel prices, environmental problems and climate change as factors which require action. Security of supply and the need for affordable energy are also important goals which are aligned with reduced fossil fuel dependence.

“China will continue to rely on itself to meet its energy needs and priority will be given to raising energy efficiency,” Chinese Premier Wen Jiabao said. “Our goal is to meet the target of a 20 percent reduction in energy consumption per unit of GDP in 2010.”

The declaration includes a call to strengthen renewable energy development through open trade and cooperation. A combination of biofuels, energy efficiency, natural gas, nuclear power for “interested” countries, hydro-electricity and renewable energy should be employed to reduce the need for oil and coal in future, the agreement reads.

Specific measures include setting individual targets for energy efficiency, a biofuels standard for vehicles, and innovative financing for renewable energy and low emissions technologies. The economic use of fossil fuels and ‘clean coal’ is also supported.

The declaration calls on nations to “explore possible modes of strategic fuel stockpiling” including “multi-country and or regional voluntary and commercial arrangements.” Plans include a regional electricity grid and a trans-ASEAN natural gas pipeline.

The countries also pledged to mitigate greenhouse gas emissions, without specifying any targets. Economic growth is expected to contribute to a surge in emissions from Asia, with some forecasts saying they could triple by 2025.

Five of the signatories – Japan, China, India, South Korean and Australia – are also members of the Asia-Pacific Partnership on Clean Development and Climate, the six-nation pact involving the United States. The core element of the agreement is that greenhouse gas reduction targets should be voluntary and that emphasis should be placed on developing technologies that reduce emissions. Its activities are based on industry led groups focusing on ‘clean fossil fuels’ including the efficient use of coal, and carbon capture.

Many ASEAN countries have the potential to develop renewable energy sources which include solar, wind, and hydroelectricity. Also of particular interest is biodiesel produced from palm oil, which is a growing industry in South Asian countries.

A full copy of the Cebu declaration can be found here.