The Asia-Pacific Economic Cooperation (APEC) is setting the connectivity blueprint for energy access among its member states.
Alan Bollard, executive director of the APEC Secretariat, said that “APEC has a connectivity blueprint put in place, building infrastructure. Some of them drawing to different examples around the different APEC communities, with some big, some small, some developed and some developing.”
Bollard noted that is also considering to tap smart technologies and ways to bridge energy access to impoverished areas.
For his part, Joshua Frydenberg, Member of Parliament (MP) Minister for Resources, Energy and Northern Australia, pointed out that energy access is important, as more than a billion in the globe is still without electricity access.
He added the group is sharing best practices of regulatory frameworks to push the investments in energy infrastructures.
Zenaida Monsada, officer-in-charge of the Philippine Department of Energy (DOE), also said that ministers have adopted to improve energy trade and investment in the APEC community for energy infrastructure planning and development, including regional energy interconnectivity.
Monsada, who also served as the chair of the Energy Ministers Meeting, said the ministers also recognized the APEC Energy Working Group (EWG) recommendation to implement a cost-benefit analysis of available energy efficient technologies.
It will develop minimum energy performance standards and explore the potential adoption of fuel quality and vehicle efficiency standards, including the reduction of energy intensity by 45 percent by 2035.
Monsada added the ministers will explore strategies to catalyze green buildings and push energy eco-tourism development framework.
Aside from setting up an attractive climate for infrastructure, the ministers also agreed to secure both energy and water resources “as they are critically affecting one another.”
The group also agreed to increase investment in green economy through green energy finance. PNA