APEC's greener energy outlook

Abstract

The APEC member economies combined accounts for more than 50% of the world's GDP and consume almost 60% of the world's energy. Under the 2011 Honolulu Declaration, APEC Leaders have set an aspirational goal to reduce APEC's aggregate energy intensity by 45 percent by 2035, compared to 2005 levels. This article summarises the results from an APEC-wide study on APEC energy demand and supply outlook from 2010 to 2035. Our business-as-usual projections show that by 2035, APEC energy demand will have increased by 40% of 2010 levels. We also found that historical trends for declining energy intensity will continue and that APEC will likely achieve its aspirational intensity reduction goal. However, our results also suggest that CO2 emissions will continue to rise and energy security will become less assured. Recognizing these vulnerabilities, APEC has already initiated a broad range of activities to achieve its 'green growth' objectives. While these have been fairly successful in guiding APEC economies towards a path of more sustainable development, these efforts will need to be intensified further to avoid serious environmental degradation. © Published under licence by IOP Publishing Ltd.