The APEC Business Advisory Council (ABAC) said Thursday that business in the Asia-Pacific region has a great sense of urgency on climate change and it will show the view to the APEC economic leaders at their meeting on Saturday.
"Business, along with consumers, must change methods and habits to adopt more energy efficient practices," said Mark Johnson, Chairman of ABAC 2007. "Business must accelerate innovation, research and development and investment in new technologies to reduce the carbon footprint."
He said clear market based policies are required for business so that business can make judgments about where to invest.
The policies are also needed for consumers to change their behavior in response to the costs of climate change, he said.
"Government incentives and policies to encourage innovation and investment in energy efficiency and low emissions technology should also be transparent and consistent," said the chairman of the council.
He said that APEC accounts for more than 60 percent of global emissions, and it has well established mechanisms for sharing and disseminating knowledge and progress between its economies.
APEC Collective Action Plans can be effective in fostering cooperation between APEC economies to promote new approaches to technology and clean energy, Johnson noted.
He suggested APEC operate on a voluntary and consensus basis, so principles and policies can be openly discussed and applied by economies as appropriate to their individual circumstances.
Founded in 1989, APEC has become a formidable regional forum acting as the primary regional vehicle for promoting open trade and practical economic and technical cooperation in the Asia- Pacific region. It currently has 21 members.