Straits Times 13 Nov 09;
ECONOMIC growth must go hand in hand with sustainable development, Apec ministers declared yesterday, recognising the need to take action on climate change and work towards an outcome in Copenhagen.
Apec finance ministers also agreed to phase out fossil fuel subsidies - which are inefficient and encourage wasteful consumption - over the medium term.
But member economies will work on implementation strategies and timeframes that reflect their individual circumstances, they said.
Apec ministers said they recognised the importance of pursuing growth through clean energy and technology, and have tasked officials to study the status of green growth in Apec.
Various economies will work to improve access for Environmental Goods and Services (EGS) and develop this sector to enhance energy efficiency and sustainable forest management and rehabilitation.
The Apec ministers also noted that many climate-friendly technologies are already commercially available and will benefit from trade liberalisation.
But they were much less forthcoming when asked about their stance at the upcoming climate change negotiations in Copenhagen.
Singapore Foreign Minister George Yeo said at a press conference that ministers were reluctant to 'go into details, to concede actual points at this meeting'.
'People talked generally... but the general approach was a positive one and there was consensus that there is urgency to finding an agreement and that we... should do so in the spirit of compromise, in a way which respects special and differential considerations,' he said.
BOTTOM LINE: Step in the green direction, but members hold Copenhagen cards close to their chest.
JESSICA CHEAM
Economy down, green investments up?
Business Times 13 Nov 09;
GLOBAL economies may have taken a beating in the past 12 months, but the crisis could have the unintended outcome of prolonging the life of Mother Earth, a new survey shows.
According to a study commissioned by German technology conglomerate Siemens, investments in more environmentally friendly technologies are set to increase as green shoots of growth emerge after a year-long recession.
The study polled 270 industry specialists from the government and private sectors, including more than 200 based in the Asia-Pacific region.
Some 86 per cent of respondents said that they believe the economic crisis will stimulate investment in greener technologies in the near future.
About 75 per cent of them also said that the events of the past year will create new models for managing the environment and economy.
The survey findings were released at the ongoing Apec Summit in Singapore.
For example, a new approach mooted by respondents is to consider the 'triple bottomline' impact of economic development, the report said.
This means that beyond social and financial benefits, the environmental impact of policies and business decisions should also be taken into consideration.
Nine out of 10 survey respondents also said that they think the stimulus programmes put in place by governments worldwide will be directed at activities that will pave the way for a greener future.
Emerging regional economies, in particular, have the opportunity to 'leapfrog' their developed counterparts by diving straight into eco-friendly technologies and policies, said Siemen's board member and chief sustainability officer Barbara Kux. She was speaking to reporters on the sidelines of the Apec Summit.
'We don't just face a financial crisis. We face a sustainability crisis,' she said.
