APEC Promises a Roar and Delivers a Whimper: The Sydney Declaration on Climate and Energy

Deep cuts in greenhouse gas (GHG) emissions will require a rapid uptake of low GIIG emission technologies itt both indusrialised and developing countries. This is only likely to occur with a massive increase in research and development (R&D), combined with regulation in the form of a carbon tax, emissions trading schemes and other measures to unlock private foreign direct investment. Both the APEC Sydncy Declaration on Climate and Energy and the Asia-Pacific Partnership (APP) have technology development and transfer as central elements. Yet, both initiatives rely on a voluntary ncn-legally binding approach with limited funding. The upshot is that neither initiative is likely to have a significant impact on climate change mitigation efforts. The UN negotiations will remain the key forum for negotiations. At the same time, with a crowded UN negotiating agenda, APEe and the APP could play a useful role in providing a supplementary forum for bringing together a number of the key players. The article makes some policy proposals, including the need for a mechanism to evaluate the effectiveness of APP projects, and a massive increase in public funding of R&D for low GHG emission technologies.