APEC Ministers Discuss Environmental Goods and Services, Energy Security

11 November 2010: The 22nd Asia-Pacific Economic Cooperation (APEC) Ministerial Meeting, held from 10-11 November 2010, in Yokohama, Japan, adopted a joint statement addressing, among other things, environmental goods and services (EGS), sustainable growth and energy security.

According to the joint statement, APEC ministers: reaffirm that EGS have a key role to play in fostering sustainable growth, advancing efforts to combat climate change and to protect the environment; reiterate support for increasing the use and dissemination of EGS, reducing barriers to trade and investment in EGS, and enhancing the capabilities of economies to develop their EGS sectors; support progress on the EGS negotiations in the World Trade Organization (WTO); and welcome the ongoing work on facilitating trade in remanufactured products, which saves natural resources and contributes to green growth, and instructed officials to take further steps in this regard in 2011. They recognize that joint research, development, deployment and transfer of technologies will be crucial in their shared efforts to address climate change.

Ministers commit to continue to make efforts to enhance regional energy security by strengthening cooperation toward stable supply and development of energy with due observance of international rules. They also reaffirm their commitment to the 2009 Leaders' Declaration to rationalize and phase out over the medium term inefficient fossil fuel subsidies that encourage wasteful consumption, while recognizing the importance of providing those in need with essential energy services. APEC members include Papua New Guinea and Singapore. [The Joint Statement]