BCG and the path to green energy in APEC
From the theme of "Open. Connect. Balance." chosen to frame Thailand’s hosting of APEC 2022, the thrust of "Balance in All Aspects" has been given importance as a pathway beyond recovering from the COVID-19 pandemic to long- term and sustainable prosperity.
Pointing out that "sustainability starts with how the region fuels its growth" under the topic of balance, APEC host Thailand indicates that while APEC is on the right track, having set energy intensity reduction and renewable energy- doubling goals, it needs to "accelerate energy transition efforts."
Stating "APEC should explore how advanced technology can be utilized to produce clean and renewable energy," Thailand has been emphasizing the application of the circular economy, in which value is created at all levels of production and consumption, throughout the past year.
The emphasis has included Thailand's proposing the "Bangkok Goals on BCG Economy" as a key deliverable.
First introduced at the Informal Senior Officials’ Meeting (ISOM) in late 2021 and discussed extensively at both the second and third Senior Officials' Meetings, the document seeks to "advance APEC’s sustainability agenda in a more holistic and integrated manner by emphasizing the whole-of-society and whole-of-APEC-system approach to achieve four goals."
The four goals are: climate action, including net zero greenhouse gas emissions; sustainable trade and investment; sustainable management of resources and conservation of the environment and biodiversity; and resource efficiency and sustainable waste management.
Energy production and consumption are relevant to three of these goals, with Thailand working to lead APEC towards power that does not generate greenhouse gas emissions, is environmentally sustainable and is produced through the efficient use of resources, resulting in minimal waste.
The BCG Economy concept, placed at the center of the Bangkok Goals, or Bio-Circular-Green Economy Model, complements circular economy concepts with the bio and green approaches to provide a path to transforming current aspects of the economy into sustainable, environmentally-friendly forms.
Through the application of BCG in Thailand and the economies of APEC, the entire region is moving to realize the aspiration of "advance the transition to clean and renewable energy."
