The Asia-Pacific Economic Cooperation (APEC) economies are leading the charge towards clean energy to combat the climate crisis. APEC set a goal to double renewable energy share by 2030, surpassing expectations. However, carbon emissions are still on the rise due to increasing energy demand. Transitioning to Carbon-Free Energy (CFE) technologies like hydrogen and ammonia is essential to stabilize power supply and reduce reliance on carbon-intensive sources. APEC recognizes the need for international collaboration to achieve carbon neutrality and is implementing initiatives like the Carbon-Free (CF) Alliance. Challenges such as high costs, energy reliability, policy variations, and the need for technological advancements are slowing down the transition. Private sector involvement is crucial, but companies face challenges balancing costs and competitiveness. Jeju Island in Korea stands out as a model for a carbon-free economy, showcasing advancements in clean energy implementation. While progress is evident, significant obstacles remain in the path to a fully clean energy system, emphasizing the importance of collaboration and innovation in the global energy transition.