Asia-pacific leaders adopt Bangkok goals for sustainability

BANGKOK: Asia-pacific Economic Cooperation (Apec) leaders have adopted the Bangkok Goals for sustainability at their meeting, after a push by Thai Prime Minister Prayuth Chan-ocha to place a green economic model as a strategy for growth.

Thailand, as the host, had put sustainability at the front and centre of discussions that also included hot-button issues such as inflation, food and energy security and Russia’s war in Ukraine.

Even before Apec, Prayuth had promoted the bio-circular-green, or BCG, economic model as a national agenda, citing the need to revamp Thailand’s economic and social development strategies to get the country out of the middle-income trap.

“The bio-circulargreen economy model will be a key engine that drives tangible outcomes.” Prayuth Chan-ocha

The model advocates steps to strengthen sustainable growth built on green economy where wastage is minimised, according to officials.

“The BCG economy model will be a key engine that drives tangible outcomes,” Prayuth said in his closing remarks at the summit.

“This will lay the foundation to drive the economic growth of the Asia-pacific region in an inclusive, sustainable, environment-friendly and systematic manner.”

The Bangkok Goals outlines a set of targets on environment, trade and investment, and waste management.

It also emphasises climate change and commitments to member economies’ net-zero and carbon neutrality goals.

Apec economies represent more than 60% of world’s economic output.