Even under ‘business-as-usual’ assumptions, Asia Pacific Economic Cooperation (APEC) member economies which account for about 60 per cent of world energy demand will likely meet their target of a 45 per cent improvement in efficiency by 2035. But there is still further work to be done to ensure greater environmental sustainability in the region.
This is the conclusion of a report on the outlook for APEC’s energy demand and supply that was released on Thursday. The report was conducted by Asia Pacific Energy Research Center, in coordination with the APEC Energy Working Group, and provides detailed projections of APEC’s energy demand, supply and greenhouse gas emissions.
“APEC’s energy efficiency surge over the last three decades is expected to continue at a modestly accelerated rate and could result in an improvement of about 53 per cent by 2035,” said Dr Phyllis Genther Yoshida, Lead Shepherd of the APEC Energy Working Group. “This trend is being driven by the adoption of new technologies within the sector and more robust energy efficiency policies among APEC economies.”
Primary energy consumption is expected to grow by only 53 per cent during the same period. Without reductions in energy intensity, APEC energy demand would grow at the same rate as the region’s gross domestic product which is projected to jump about 225 per cent by 2035.
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