[Title] Video Message by Prime Minister KISHIDA Fumio at the GZERO Summit 2022

I am KISHIDA Fumio, Prime Minister of Japan. I am very happy to see that the GZERO Summit is being convened in-person for the first time in two years.

I cannot physically attend this conference since numerous heads of state or governments are currently visiting Japan. However, I greatly look forward to lively discussions that will open new perspectives on the future of the world.

Pandemic, Ukraine crisis, and the global food and energy crisis…we are facing a series of events that may mark history, events that normally may or may not occur once every few decades.

In particular, I believe that the GZERO world, which Dr. Bremmer has long propounded, has emerged as a literal reality as a result of the Ukraine crisis.

Unilateral attempts to change the status quo by force should never be tolerated in any region of the world. The free and open economic order is also facing significant challenges from, for example, untransparent development support and economic coercion.

In the GZERO world, Japan is expected to lead the establishment of a new international order in the era following post-Cold War times, and to bridge developed countries and developing countries.

An example of this is the launch of negotiations on IPEF, which was announced earlier this month. This is a big step towards establishing a framework to address 21st century challenges such as supply chain resilience.

Japan will contribute to the fullest extent so that the IPEF will become a platform for inclusive and sustainable growth in the Indo-Pacific region.

Furthermore, Japan will assume the presidency of the G7 next year and will host the G7 Hiroshima Summit.

Why is Japan hosting G7 in Hiroshima? I intend to display, in front of the Hiroshima Peace Memorial with historic weight, the will of the G7 to lead the way in creating a order of the new era, based on universal values and international rules such as freedom, democracy and the rule of law.

As the only G7 member from Asia, Japan must carry out its historic mission to bridge the G7 and Asia, and I intend to attend on this basis.

I understand that issues such as supply chain resilience and ESG investment will be discussed at this year's GZERO Summit.

I am promoting a "New Form of Capitalism," where public and private sectors will work together to aim for growth while tackling challenges and grasping economic externalities due to traditional capitalism as engines of growth.

The themes of this GZERO Summit are also the central themes of my New Form of Capitalism.

The spread of COVID-19 and the rise in geopolitical tensions, including military aspects, have brought to light the vulnerability of global supply chains developed by the stable economic/financial system and capitalism thus far.

As Japan and the US agreed to establish a joint task force to explore the development of next generation semiconductors in the Summit meeting this May, Japan will work to improve the resilience of supply chains in partnership with like-minded countries.

In addition, carbon neutrality is becoming a big opportunity for economic growth, as ESG investment has increased by approximately 2 thousand trillion yen in six years.

In order to realize carbon neutrality, Japan will tackle the challenges of green transformation, which is, a major transformation of energy, industries, and ultimately the economic society, and will share its technology and know-how with Asia.

Such drastic reform requires huge investment. Domestically, Japan will aim to realize 150 trillion yen in new investments over the next decade, and will contribute to expanding investment towards global carbon neutrality such as through the "Asia Zero Emissions Community" initiative.

Let me conclude by saying that I look forward to lively discussions on challenges and ways forward in the GZERO world amongst all those attending today, and that I am confident that discussions here will be a compass for the world.

Thank you.