July 17, 2024

Expanding the products in the Asia-Pacific Economic Cooperation (APEC) List of Environmental Goods will greatly help the region cope with the environmental challenges while APEC economies consider the inclusion of adapted goods, according to an APEC Policy Support Unit article.

Carlos Kuriyama, a senior analyst at the APEC Policy Support Unit, cited climate change adaptation and mitigation among the environmental challenges that have entered the mainstream consciousness in recent years.

“Any discussion to expand the list should keep in mind certain considerations, such as how it would benefit APEC members economically, especially developing economies, which often bear the brunt of the ill effects of climate change,” he said.

Kuriyama said the products in the APEC list support several activities related to environmental protection and resource management.

He said one possible way is adding in the list less technology-intensive products which are already part of complex global value chains in environmental goods and are manufactured in developing economies.

APEC economies should also consider the inclusion of adapted goods, he said, adding these are goods that have been specifically modified to be more “environmentally friendly” or “cleaner” and whose use is therefore beneficial for environmental protection or resource management.

Kuriyama likewise highlighted the surge of trade in environmental goods which may be attributed to several reasons.

“Tariff reductions, to which APEC’s work has contributed, have made green technologies more affordable and available. Environmental awareness and activism have steadily grown in popularity, especially in recent years, and there is a general trend to develop and use fewer polluting technologies as well as more environmentally friendly products,” he said.

This has led to governments mandating more regulation to protect the environment, the implementation of which requires the use of environmental goods, he added. – Press release