ISLAMABAD : The Asian Parliamentary Assembly (APA) Standing Committee Economic Affairs and Sustainable Development is all set to approve the establishment of an ” Asian Energy Market” in its meeting to be held on December 8-9, 2024, in Manama (Bahrain).
The Members of the Asian Parliamentary Assembly, will recalling the United Nations’ 17 sustainable development goals (SDGs) adopted by world leaders in September 2015 for a more prosperous future, and that is through the promotion of prosperity, increase of social welfare, and protection of the planet.
NewzShewz has learnt that APA Standing Committee, its Resolution will call upon Asian parliaments to fulfill their respective commitments on reducing the adverse effects of climate change taking into account the principles of equity, common but differentiated responsibilities and respective capabilities in the light of different national circumstances, to adopt effective policies to improve the use of natural resources in Asia and to promote economic growth.
APA Standing Committee on Economic Affairs and Sustainable Development will suggesting the establishment of clean energy markets that will enable Asian countries make optimal utilization of their natural resources and export the surplus to other Asian countries.
It will stressing on the importance of protecting and developing this important sector which plays an integral role in the prosperity of Asian societies.
The APA Standing Committee on Economic Affairs and Sustainable Development will adopt a resolution saying that an Asian Energy Market will contribute in creating energy production projects, in particular renewable energy projects, which will provide for investment partnership opportunities for the establishment of alternative energy projects between the public and private sector, and among countries of the Asian continent.
APA will support the efforts to reduce the use of fossil fuels gradually in a way that does not harm their economic growth as they produce greenhouse emissions, and the creation of competitive markets for sustainable and low-emission energy according to national circumstances, needs and priorities.
Realizing that the outbreak of the Covid-19 pandemic has impeded local efforts in many countries of the continent to fulfill previously made climate commitments, such as postponing important climate initiatives, suspending programs to “reduce carbon emissions”, and extending deadlines granted to companies to meet environmental standards. APA will stress the importance of joint efforts by Asian countries to provide energy at reasonable prices for the Asian energy market.
The Members of APA Standing Committee on Economic Affairs and Sustainable Development call for the liberalization of production and service in the energy sector in Asia, in order to support the international measures for combating climate change, and to move forward in achieving the Sustainable Development Goals (SDGs) of the United Nations for the year 2030.
APA will encourage cooperation among Asian countries to achieve the SDG’s by establishing a competitive Energy Market, and coordinate between the government and private sectors in a bid to create partnerships that supports the promotion of economic prosperity in Asia. It will support the sustainable development, in a comprehensive manner and promote the investment in infrastructure and the use of technology that helps in improving alternative energy resources and address climate change. It will call also for emphasizing the importance of renewable and low-emission energy and energy efficiency in achieving sustainable development and the protection of environment by the use of environment-friendly substances for future generations.
APA Standing Committee on Economic Affairs and Sustainable Development will urge member parliaments on the importance of legislation and enactment of laws of renewable energy to activate the role of Asian parliaments in the future of renewable energy.
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