Southeast Asian and European leaders moved to deepen cooperation on sustainability and energy on Thursday as rising fuel costs, supply chain disruptions, and climate risks continue to strain regional economies.

At the inaugural ASEAN–EU Sustainability Summit 2026, more than 200 policymakers, diplomats, and business leaders gathered to stress that sustainability is no longer a long-term goal but an immediate economic priority amid the global energy crisis and trade volatility.

Philippine Finance Secretary Frederick Go said the Philippines is looking to strengthen economic ties with Europe, especially as sustainability and investment priorities increasingly overlap.

“Europe and the Philippines have a stable and evolving partnership, built on trade, investment and development cooperation,” Go said. “Today, it is also focused on sustainability, climate and inclusive growth.”

He added that the proposed EU–Philippines Free Trade Agreement is the country’s “most important economic agreement this year,” with both sides targeting signing by the third quarter of 2026.

Business leaders echoed the urgency, saying economic resilience is now inseparable from sustainability.

“At a time of global uncertainty marked by energy volatility, supply chain disruptions, and rising costs, this Summit could not be more timely,” said Paulo Duarte of the European Chamber of Commerce of the Philippines. “Sustainability is no longer optional.”

EU Ambassador Massimo Santoro, meanwhile, stressed the need to align climate ambition with financing.

“Strengthening the link between ambition and financing is essential to turning policy into real, on-the-ground impact,” he said, adding that energy challenges should push deeper cooperation on trade, renewables and disaster resilience.

Regional officials said ASEAN must balance growth with emissions reduction.

“The only viable path forward is cohesive planning that integrates sustainability into every aspect of development,” said Indonesia Deputy Minister Leonardo Teguh Sambodo.

In the Philippines, Climate Change Commission official Robert Borje said the energy transition could attract more investment.

“What can be seen right now as a challenge can be turned into an opportunity,” he said.

Business and government officials also discussed circular economy systems, supply chain security, and food resilience.

DENR Undersecretary Jonas Leones said government efforts must be supported by the private sector.

“The government cannot do it alone,” he said.

Coca-Cola Philippines executive Antonio Del Rosario highlighted the role of Extended Producer Responsibility in strengthening recycling systems, while industry leaders warned that regulatory delays in vaccine approval could threaten food security during outbreaks.

Closing the summit, EU–ASEAN Business Council Executive Director Chris Humphrey urged faster action.

“We need governments, businesses and citizens to take sustainability more seriously in all its aspects,” he said, “so we can all live a longer life, a healthier life, and look after our planet at the same time.”