The APEC 2012 Leaders’ Declaration acknowledged “the need for joint actions to prevent the negative influence on the world’s economy from carbon emissions” and committed to “strengthen APEC energy security […], to promote energy efficiency and develop cleaner energy sources for sustainable development”.
Annex B (Strengthening APEC Energy Security) of the Leaders’ Declaration acknowledged that “global financial uncertainties, political developments in the Middle East and North Africa and carbon emissions from fossil fuel consumption can negatively influence the world’s economy and pose new challenges to the secure and sustainable growth of global and regional energy markets.” Therefore, while they recognize the “major role fossil fuels will continue to play meeting the growing energy demand in the Asia-Pacific energy mix,” they will at the same time “further promote energy efficiency and cleaner energy supplies as a priority to boost both sustainable development and energy security, and reduce carbon emissions.”
To that end, the leaders agreed to a list of measures, including reviewing the energy markets of the APEC region “with a view to increasing the share of natural gas in the energy mix as one of the most widespread and cleanest burning fossil fuels in the region”, the promotion of “steady investment in energy infrastructure”, and the promotion of “the safe and secure use of nuclear energy”.
They also included measures such as the promotion of “technology development and deployment of a low-emission energy supply including carbon capture, storage and use, and renewable energy sources such as bioenergy from sustainable biomass sources”, the promotion of “energy efficient and sustainable transport systems development”, the phasing-out of “inefficient fossil fuel subsidies that encourage wasteful consumption”, and the development of “an Action Plan in order to achieve the aspirational goal to reduce APEC’s aggregate energy intensity by 45 per cent by 2035 while noting that individual economies’ rates of improvement may differ due to varying domestic circumstances.”
Russian President Vladimir Putin said that Russia would be a stable energy supplier and a gateway to Europe for Asian countries. Chinese President Hu Jintao said that his country would play a role in helping deepen cooperation between the 21 members of APEC by rebalancing its economy to improve the chances of a global economic recovery. Hu also announced a US$157 billion government spending drive to boost infrastructure in agriculture, energy, railways and roads as well as pledging his country’s support for greater trade liberalization.
Declaration: “2012 Leaders’ Declaration” [APEC September 2012]
Document: “Annex B – Strengthening APEC Energy Security” [APEC September 2012]
Article: “China, Russia sound alarm on world economy at APEC summit” [Asia One, 9 September 2012]
Article: “China sounds alarm on global economy at APEC summit” [Today Online, 8 September 2012]