· Engagement: Through the previous APEC project of APEC SME Innovation Center, ‘Green Initiative Study and Workshop’, a preliminary stocktaking of projects relevant to green growth has been conducted and the result indicates that work of EWG, TELWG, ISTWG and SCSC could be particularly relevant. Therefore, the project outcomes will be shared with relevant APEC organizations to maximize benefits of the project and help other fora avoid duplication in their future projects.
· Previous Work: The importance of green growth has been continuously recognized in APEC fora. In 2011 APEC Leaders’ meeting, leaders declared: We are committed to advancing our shared green growth objectives. We can and must address both the region’s economic and environmental challenges by speeding the transition toward a global low-carbon economy in a way that enhances energy security and creates new sources of economic growth and employment. Also in the 23rd APEC Ministers meeting in Hawaii, Ministers stressed green growth stating the Green Initiative as a way of promoting SMEs’ engagement: We welcomed work in 2011, including the Green Initiative to promote engagement of small and medium-sized enterprises in green growth sectors, and instructed officials to continue these efforts in 2012 by sharing best practices and undertaking additional related activities.
The Green Initiative, including the project, is based on these recognitions of the importance of green growth. Continuous research lead to the development of the Green Initiative framework, which was shared at the APEC SME Innovation Conference−held in April 2011, Korea−and received feedback from member economies. An interim report and a template of the Green Initiative have been distributed to member economies, based on which member economies can write GAPs and best practices. The compiled reports, in turn, will be presented and shared in the Green Initiative Workshop Ⅰ to be held in December 2011, in Thailand.
As an extension of a series of these activities, the project is a crucial step in completing the Green Initiative. It addresses GAPs and best practices of member economies in Areas C and D, which is distinct from previous activities. To minimize duplication, the Green Initiative Study was preceded. The outcome is as follows.
The preliminary of APEC projects indicates that work of EWG, which focus on energy efficiency, is particularly relevant to the green growth initiative. Review of EWG and work of other relevant forums will be conducted in an early phase of the research. Preliminary research results will be shared with relevant forums to minimize duplication in the final research report. A review of OECD’s recent report on green growth will also be conducted to minimize duplication and build on the findings of previous studies.
· APEC’s comparative advantage: APEC is the largest group of economies, accounting for almost half of global production output and trade. Therefore, the impact of lessons shared and improved energy efficiency entail multiple effects. APEC is also an organization with member economies of wide ranging economic status with strong economic and business oriented objectives including a focus on trade liberalization, business facilitation, economic and technical cooperation.
Therefore, it stands a greater chance of demonstrating the economic and trade benefits of green growth compared to the European Union and OECD which often focus on improved the sustainability of advanced nations. With many developing member economies on board that aim to reach a higher level of economic development, its research and workshop results on green growth stand a better chance of being adopted as many member economies are not ‘locked into’ particular technologies, unlike more developed economies.