SINGAPORE (July 17) — With energy security and climate change emerging as two very real challenges to economic growth, Japan has contributed JPY 120,000,000 (approximately USD 1.3 million) to promote energy efficiency activities throughout the APEC region.
According to the Japanese Senior APEC Official, Makoto Shiotoa, “This sum is specifically directed toward the development and implementation of energy efficiency policies, goals and action plans in APEC economies.”
Such activities could include but would not be limited to: research of policies, practices and potential for energy efficiency improvement in APEC; vehicles for disseminating project outcomes; and the APEC Peer Review on Energy Efficiency, whereby efficiency policies are reviewed and compiled as a means of information-sharing.
“This fund is a very practical way to assist members to meet their commitments and maximise efficiency,” explains APEC Executive Director, Michael Tay.
“The implementation of energy efficiency measures effectively pays for itself, through long-term reductions in energy costs. Many APEC economies would therefore benefit by developing clear goals and action plans toward optimum energy efficiency.”
While the existing global crisis underlines the urgency of addressing climate change, initiatives are the result of commitments made by APEC Leaders in 2007. The Sydney APEC Leaders’ Declaration on Climate Change, Energy Security and Clean Development states that “economic growth, energy security and climate change are fundamental and interlinked challenges” to the APEC region and emphasizes “the importance of improving energy efficiency by working towards achieving an APEC-wide regional aspirational goal of a reduction in energy intensity of at least 25 per cent by 2030 (with 2005 as the base year).”
Japan’s contribution will be distributed through the APEC Support Fund, designated to enhance capacity-building activities.