The IPEF Clean Economy Agreement is an economic framework that will support the IPEF partners’ efforts towards achieving their respective climate goals by accelerating the deployment of clean technologies and facilitating investment. The proposed Agreement includes measures that span a wide variety of climate and energy issues with the aim to urgently reduce greenhouse gas emissions and build climate resilience while ensuring a just transition. To support the commitments that IPEF partners have made, the Agreement also outlines incentives that support the implementation of the Agreement, such as financing and technical assistance and capacity building. Together, the IPEF partners will advance cooperation on all the aspects covered under the Agreement, including developing and deploying clean energy and climate-friendly technologies, facilitating investment towards climate-related projects in the region, connecting markets through policies and standards, and promoting low-and zero-emission goods and services. Thus far, the IPEF partners have put forward a variety of innovative ideas and projects to initially narrow the scope of collaboration whilst recognizing the unique national circumstances of each IPEF partner, including their development needs. Additionally, the U.S. had made a series of announcements regarding the financing framework, including the Global Climate Fund, the Catalytic Capital Fund, and an annual investor forum. These individual initiatives will complement each other to provide financial and private sector support that will be critical to the success of the Clean Economy Agreement.

⇒ Read the IPEF Pillar III Final Text

⇒ Read the U.S. Fact Sheet on the Substantial Conclusion of Negotiations on the IPEF Clean Economy Agreement 

⇒ Read the May 2023 Ministerial Press Statement for the Trade Pillar, Clean Economy Pillar, and Fair Economy Pillar.

⇒ Read the Ministerial Statement for Pillar III.

⇒ Read the U.S. Summary of the Zero Draft Text for Pillar III.