The Impact of Growth

Economic activity at a mass scale has improved the lives of billions of people over the decades, but has put pressures on the biosphere, and a strain on raw materials, food resources, land and oceans. if trade and investment are to achieve their full potential for enhancing well-being, it must be aligned with priorities that go beyond simply increasing flows of goods, services and funds. To this end, preservation of the environment that underlies our economy and future development is crucial for APEC to achieve long term well-being or sustainable development.

The Rewards of Sustainability

The sustainable management of resources is not only essential to minimizing the negative impacts of human industry on the environment, it will also to create economic value.

Sustainability will become an integral discussion for APEC 2020 and Malaysia will focus on optimal resource management to minimize the adverse impacts on the environment, and on identifying innovative practices that can complement the existing practices.

Beyond the Roadmap Towards 2020

The APEC Food Security Roadmap Towards 2020 set a long-term goal for the attainment of a regional food system structure by 2020. In 2019, APEC Ministers called for a review of the Roadmap to identify ongoing priorities and future opportunities to enhance food security in the region beyond 2020.

Malaysia will undertake a review and will identify the opportunities for advancement of this Roadmap. Correspondingly, recommendations will be identified by taking into consideration the changing nature of technology and its challenges and opportunities for human capital.

Renewable energy X 2

As the world’s largest producers and consumers of energy collectively, APEC economies account for 55% of global energy production and 60% of total energy consumption . By 2050, energy demand is expected to be 21% above 2016 levels. Thus, APEC economies have to prioritize cooperation on energy transition efforts if the region is serious about transitioning to a low-carbon economy.

In 2014, APEC Leaders endorsed a new aspirational goal to double the share of renewable energy in APEC’s overall energy mix by 2030, compared to the 2010 levels. It has become ever more important to engage in cross-border cooperation and share and discuss best practices with other economies in the region with increased renewable applications. Building on existing work programs, Malaysia will work towards ensuring a more affordable, reliable, sustainable and modern energy for all APEC citizens.

Rising population and urbanization

The APEC region was inhabited by 2.9 billion people in 2017, accounting for 38% of the world’s population. With rapid population growth and urbanization, APEC economies face the challenge of massive volumes of waste, not just from household and municipal waste but also food waste. Roughly one-third of the edible parts of food produced for human consumption gets lost or wasted globally, which is about 1.3 billion tons per year.

This scenario brings with it resource stress that if not managed well will cause unsustainable development leading to negative impacts to the planet.

The Circular Economy

APEC economies have put efforts towards waste management, but, are challenged by constraints on technology, infrastructure, financing, policy, and stakeholder participation. These challenges can turn into opportunities, if APEC member economies shift the waste into an economic resource.

Through science, technology and innovation, waste produced can be collected and recycled to create new economic opportunities in the form of waste-to-wealth generation. Not only this can contribute towards creating sustainable income to families and facilitate opportunities for entrepreneurship development, but also limit the environmental impacts of the population’s use of resources.