US President Barack Obama on Wednesday urged member-economies of the Asia-Pacific Economic Cooperation (APEC) to pour money into fostering climate change resilience.
In a keynote speech delivered before the APEC CEO Summit in Manila, Obama also pushed for the adoption of cleaner sources of power.
Noting that much had been discussed about trade during the annual APEC gathering, the US president said that he wanted to focus on the effects of climate change and how to address the problem.
“[T]he topic I want to focus on today would have a greater impact,” Obama said, stressing this by citing the Philippines’ experience when supertyphoon “Yolanda” devastated parts of the Eastern Visayas in 2013.
“No nation is immune to the consequences of a changing climate… We want to prevent the worst effects of climate change before it’s too late. We must act now,” he said.
Obama urged business people to consider fostering climate change resilience, saying this would be a viable investment.
“It could be an open generator of opportunities,” he said.
“APEC economies should be supportive of business innovations in efforts to have a good environmental sense,” Obama added.
He also pointed out that a transition to clean energy could be done without squeezing both businesses and consumers, with the government’s roles that of providing incentives.
He also urged APEC member-economies to continue supporting the 21st Conference of Parties or COP21, which will be held at the end of this month.
“In Paris, two weeks from now we will have an ambitious target to save the only planet that we have. An ambitious agreement in Paris will prompt investors to invest in clean energy technologies,” he said.