After a year that went down as one of the hottest in recorded history, and following the 2015 UN Climate Change Conference (COP21) in Paris, the question is this – can Asia-Pacific balance its COP21 commitments with efforts to boost trade and economic growth?
Asia-Pacific is projected to continue driving and leading global economic growth, according to the International Monetary Fund (IMF). To facilitate this growth, the Asian Development Bank (ADB) expects energy demand in the region to double by 2030.
According to Alan Bollard, executive director of the Asia Pacific Economic Cooperation (APEC) Secretariat, these priorities can go hand-in-hand, albeit with some trade-offs.
Collectively, the economies of the 21-member APEC account for half of global trade, 60 percent of the world’s GDP, and 60 percent of the world’s energy consumption. APEC is also home to three billion people and, according to the World Resources Institute (WRI), seven of the top ten greenhouse gas emitters.
In a Foreign Affairs article, Bollard addresses how APEC can reconcile trade and climate policies to achieve sustained and sustainable economic growth. His full article can be read here.
By Asia Pacific Economic Cooperation (APEC) Secretariat