The findings from the Asia-Pacific Energy Research Centre’s
latest APEC Energy Demand and Supply Outlook prompted energy officials
from APEC economies convening in Canberra
over the last week to take further steps to boost sustainability within the
sector needed to strengthen their energy security and fight climate change.
They also set the tone for a meeting of APEC Trade Ministers in Arequipa, Peru on 17-18
May to launch complementary actions for building green growth. But 80 percent of demand will still be met by fossil fuels, led by coal, based on current trends.
Under this scenario, more than ten
per cent of energy reserves within the 21 APEC economies, the world’s largest
energy producers and consumers, will need to be imported from outside APEC by
2040—even with the development of unconventional gas resources. It would also
increase the region’s carbon emissions by about a quarter.
“APEC economies are
aggressively working to transform the region’s energy paradigm by facilitating
greater diversification of their energy mix and higher efficiency standards,”
explained Dr Phyllis Yoshida, Chair of the APEC Energy Working Group, which
administers regional policy and research collaboration within the sector.
“We aim to double renewable energy in
the energy mix in APEC economies by 2030 and reduce their energy intensity 45
per cent by 2035, and are laying a policy foundation to achieve these ambitious
goals,” noted Dr Yoshida, who is also a senior official with the United States
Energy Department. “The growth and sustainability of our diverse economies will
greatly depend on the success of this effort.”
Doubling renewable energy in APEC will
require 1,692 gigawatts of additional renewable generation capacity or an
average of 100 gigawatts annually, the report estimates.
Lower barriers to innovation within the sector are needed to accelerate the
establishment of secure and environmentally friendly energy systems that can
help to deliver, it adds.
Towards these ends, officials have
introduced a new network for city executives to share intelligence on
efficiency and renewable energy policy development and adoption, drawing on
pilot measures being pursued in a growing number of APEC Low Carbon Model Towns. A parallel
service network of companies and research bodies within the sector has also
been created to provide implementation support for city-level energy
sustainability initiatives.
“A cross-section of cities in the
region are serving as a testing ground for green development, guided by
industry reform and urban planning recommendations from APEC experts, Dr
Yoshida concluded. “Early analyses reveal that inroads are being made but must
be sustained and built upon if energy security and deep cuts in emissions are
to be realized in the Asia-Pacific in the years ahead.”
Click here to view the APEC Energy Demand
and Supply Outlook 6th Edition
For more:
Read how APEC is working to bridge
action on climate change and the promotion of trade and economic growth, and
demonstrate their potential to become mutually reinforcing here.
APEC’s endorsement of a global target
for deploying 10 billion high-efficiency lighting products to boost trade and
the fight against climate change is detailed here.
Details on how APEC economies are
taking advantage of low oil prices to promote fossil fuel subsidy reform and
reduce emissions can be found here.
More information on APEC member
energy initiatives can be found at www.ewg.apec.org as well as at
this link.
