Obama Urges APEC Economies to Support Businesses Undertaking Environment-friendly Measures

United States President Barack Obama has called on Asia-Pacific Economic Cooperation (APEC) member economies to be supportive of business innovations that promote a good environmental sense.

In his remarks at the APEC CEO Summit on Wednesday, President Obama stressed that there is “no contradiction between growth, development, and being good stewards of the planet.”

“We can transition to clean energy without squeezing businesses and consumers,” the American leader pointed out.

He cited as examples US-based companies Apple and Costco, which are among the largest companies that have invested in green technologies.

Just recently, Apple was lauded by Greenpeace as the world’s most environmentally big technology company, after committing to draw 100 percent of its energy needs from renewable sources over the long term.

This year, the company has begun work on two solar-powered data centers in Ireland and Denmark, and it is also constructing two major solar power projects in China’s Sichuan province.

According to President Obama, the US retail giant Walmart has been installing solar panels on its stores’ rooftops to improve its corporate image and control energy costs.

Walmart has even pledged to double its solar installations by 2020 and in the long term, it wants to get all of its electricity from renewables.

“Such companies have invested as much as USD 168 billion for their environment-friendly measures,” he said.

President Obama underscored that economies “must act now” to prevent the worst effects of climate change before it is too late.

“No nation is immune to the consequences of a changing climate,” he said.

President Obama said an ambitious agreement in Paris will prompt investors to invest in clean energy technologies.

He was referring to the 21st Session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP21), to be held in Paris this December.

Obama said the US has already built renewable energy plants last year while China pledged to reduce its global emissions.

The Philippines is even increasing its wind power, he said.

“We need clean and sustainable energy, good technologies,” said President Obama, noting that nations, including the Philippines, are now working towards addressing climate change. (PNA) LGI/PCOO-APEC COMMUNICATIONS TEAM/RSM