MANILA, Philippines — Businesses across the Asia-Pacific region are urged to take part in a newly launched initiative that aims to have the private sector take a lead role in promoting green practices for a sustainable economy.
In a statement, the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) said the Asia-Pacific Green Deal for Business Declaration, which advocates for companies to take a leading role in the region’s green transformation towards a low carbon, climate-resilient and sustainable new economy, was launched at the Asia-Pacific Business Forum (APBF) co-hosted with the ESCAP Sustainable Business Network (ESBN) last Aug.26.
“I urge businesses to wholeheartedly adopt and implement the new Asia-Pacific Green Deal for Business through taking specific actions towards achieving the 2030 Agenda for Sustainable Development,” George Lam, ESBN chair and president of the Hong Kong-ASEAN Economic Cooperation Foundation said.
Under the Green Deal for Business, companies are encouraged to take part in leading the green transformation through advancing a zero carbon, affordable and resilient energy system; building smart, low carbon, water-secure and climate-resilient cities and infrastructure; mobilizing investment for green transformation in energy, infrastructure and logistics; accelerating and scaling up new technologies and applications to improve efficiency and reduce environmental impact; and implementing changes to promote a more circular economy and minimize waste.
Given the impact of the pandemic, Lam said there is a need to build back better and invest in smarter and greener solutions to further develop the green economy.
For her part, Armida Salsiah Alisjahbana, UN undersecretary-general and ESCAP executive secretary said the government and the private sector would need to coordinate efforts to regain the momentum to achieve the Sustainable Development Goals (SDGs).
Adopted by the UN General Assembly, the SDGs are global goals representing a universal call to action to end poverty, protect the planet, and ensure that all people enjoy peace and prosperity by 2030.
“The crisis has shown that the region needs to invest in its health infrastructure, address the digital divide and improve trade, transport and energy connectivity,” Alisjahbana said.
She said it is important to take action as inflationary pressures and a surge in prices of agricultural commodities and energy are posing a challenge to post-pandemic recovery efforts.
In developing countries in particular, she said high food and energy prices could push more people into poverty.
Held annually since 2004, the APBF brings together governments, businesses, civil society and academics from all over the region to discuss innovative solutions and recommendations in order for the private sector to contribute more to greener and more sustainable development.