In the face of escalating climate challenges, members of the Asia-Pacific Economic Cooperation (APEC) are ramping up their efforts to promote sustainable and inclusive growth. By launching initiatives focused on renewable energy, disaster resilience, and green investments, APEC is setting the stage for a more environmentally conscious future.
\"While the global economy remains resilient, APEC economies face challenges such as persistent inflation, economic disparities, and an urgent need for greater investment in green, climate-resilient infrastructure,\" stated Julia Torreblanca, chair of the APEC Business Advisory Council, on Thursday. Her remarks underscore the critical need for ongoing commitment to climate initiatives.
Over the past decade, APEC members have made significant strides in combating climate change. The APEC Regional Trends Analysis published in November 2021 highlighted that from 2008 to 2020, forest cover in the region expanded by 22.7 million hectares. Additionally, green bond issuances reached a remarkable $92.3 billion in 2020, funding a variety of sustainable projects.
Looking ahead, APEC members are striving to double the share of renewable energy in their total energy mix by 2030. This ambitious goal reflects a strong dedication to reducing carbon footprints and fostering a greener economy.
A central element of APEC's strategy is the Bio-Circular-Green (BCG) economy model, which was endorsed during the 2022 APEC Economic Leaders' Meeting in Bangkok. The BCG model integrates circular practices with cutting-edge technology and innovation, aiming to minimize waste and maximize value. This approach not only enhances resilience but also drives sustainable growth across the region.
Reference(s):
cgtn.com
