Advancing Clean Energy Transition and Energy Security at APEC 2024 in Lima, Peru
Key Ideas
  • Clean energy transition, including wind and solar power, is at the forefront of discussions at the ongoing APEC Leaders Meeting in Lima, Peru.
  • APEC member economies are urged to deepen cooperation to accelerate the transition to clean energy and ensure energy security amidst global energy trade disruptions.
  • Peru, as the rotating chair of APEC in 2024, focuses on promoting low-emission hydrogen and green hydrogen to foster development and energy diversification.
  • Cross-border investment and cooperation, as well as technological advancements in the green energy sector, are essential for stable and sustainable energy supply across APEC economies.
The APEC 2024 Leaders Meeting in Lima, Peru, emphasizes the importance of clean energy transition and energy security in the face of global challenges. With China leading in clean energy development, the APEC economies are exploring ways to deepen cooperation to accelerate the shift towards clean energy sources. The meeting prioritizes sustainable growth for resilient development, focusing on energy transition, decarbonization, and food security. Energy trade dynamics among APEC members vary, with some economies heavily reliant on fossil fuel imports. To address energy security risks, diversification of energy sources and stable trade relations are crucial. Renewable energy, particularly wind and solar power, plays a significant role in advancing clean energy goals. APEC economies, including China, are encouraged to enhance cooperation in these sectors through trade facilitation and investment attraction. Measures such as reducing tariffs and signing free trade agreements are proposed to stimulate clean energy development. Moreover, the promotion of green hydrogen as a key energy source is highlighted, with Peru championing its use and advocating for cooperation in the sector. As APEC economies embrace cleaner energy sources, the need for robust energy infrastructure and cross-border investment in smart grid projects becomes imperative to ensure stability and security. The market potential for clean energy presents opportunities for member economies to collaborate and drive the transition towards sustainable energy practices. By prioritizing green energy solutions and promoting technological advancements, APEC aims to secure a stable and sustainable energy future for all member economies.
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