Promoting Green Growth
We are committed to advancing our shared green growth objectives. We can and must address both the region’s economic and environmental challenges by speeding the transition toward a global low-carbon economy in a way that enhances energy security and creates new sources of economic growth and employment.
We have advanced these objectives significantly in 2011. In 2012, economies will work to develop an APEC list of environmental goods that directly and positively contribute to our green growth and sustainable development objectives, on which we are resolved to reduce by the end of 2015 our applied tariff rates to 5% or less, taking into account economies’ economic circumstances, without prejudice to APEC economies’ positions in the WTO. Economies will also eliminate non-tariff barriers, including local content requirements that distort environmental goods and services trade (see Annex C). Taking these concrete actions will help our businesses and citizens access important environmental technologies at lower costs, which in turn will facilitate their use, contributing significantly to APEC’s sustainable development goals.
We will also take the following steps to promote our green growth goals:
• Rationalize and phase out inefficient fossil-fuel subsidies that encourage wasteful consumption, while recognizing the importance of providing those in need with essential energy services, and set up a voluntary reporting mechanism on progress, which we will review annually;
• Aspire to reduce APEC's aggregate energy intensity by 45 percent by 2035;
• Promote energy efficiency by taking specific steps related to transport, buildings, power grids, jobs, knowledge sharing, and education in support of energy-smart low-carbon communities;
• Incorporate low-emissions development strategies into our economic growth plans and leverage APEC to push forward this agenda, including through the Low-Carbon Model Town and other projects; and
• Work to implement appropriate measures to prohibit trade in illegally harvested forest products and undertake additional activities in APEC to combat illegal logging and associated trade.
Regulatory Convergence and Cooperation
Regulatory reform, including eliminating unjustifiably burdensome and outdated regulations, can boost productivity and promote job creation, while also protecting the environment and public health, safety, and security. In addition, as trade and investment flows become more globalized, greater alignment in regulatory approaches, including to international standards, is necessary to prevent needless barriers to trade from stifling economic growth and employment.
This year, we have advanced these objectives by committing to take specific steps by 2013 to implement good regulatory practices in our economies, including by ensuring internal coordination of regulatory work; assessing regulatory impacts; and conducting public consultation (see Annex D).
We will also take the following steps to increase convergence and cooperation in our regulatory systems:
• Pursue common objectives to prevent technical barriers to trade related to emerging green technologies, including smart grid interoperability standards, green buildings, and solar technologies;
• Strengthen food safety systems and facilitate trade, including by supporting the Global Food Safety Fund – an innovative capacity-building partnership with the World Bank; and
• Ensure implementation of our APEC anti-corruption and open government commitments by 2014 through deeper cooperation in APEC.
Looking Forward
To promote strong, inclusive regional growth, we commit to take concrete actions to expand economic opportunities for women in APEC economies. We welcome the San Francisco Declaration on Women and the Economy and pledge to monitor its implementation.
We applaud the contributions of the APEC Business Advisory Council (ABAC) to our work. Recognizing that private enterprise is the engine of trade, investment, and innovation, we have committed ourselves to enhancing the role of the private sector in APEC, through greater input into APEC’s working groups and the establishment of new public-private Policy Partnerships. Expressing solidarity with the people affected by tragic natural disasters, we pledge to incorporate the private sector and civil society more substantively into our emergency preparedness efforts, as a critical piece of our efforts to build more resilient communities and businesses.
Recognizing the range of experiences and systems across APEC economies, we reaffirm the importance of supporting our ambitious vision for a seamless regional economy through our abiding commitment to delivering effective economic and technical cooperation.
Enormous progress has been made. But our work toward a truly seamless regional economy is only in the beginning stages. We instruct our ministers and officials to carry forward this work and to strengthen the economic foundation of our shared Asia-Pacific community. We look forward to reviewing further progress when we convene again during Russia’s hosting of APEC in 2012.
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