SINGAPORE – President Gloria Macapagal-Arroyo and the 20 other leaders of the Asia-Pacific Economic Cooperation yesterday agreed to use more renewable energy and to phase out over the medium term fossil fuel subsidies as part of the region's strategy for sustainable development, a press release from Malacañang said.

“We recognize the role of renewable energy in reducing emissions and encourage its development in the APEC region,” APEC leaders said their joint declaration issued at the close of their two-day Leaders Summit this afternoon at the Istana government palace here.

APEC leaders, however, said global action to reduce greenhouse gas emissions will need to be accompanied by financial assistance and technology transfer to help developing economies adapt to the adverse impact of climate change.

APEC leaders said they will include the increase of forest cover by at least 20 million hectares by 2020 among the goals set two years ago during their Sydney Declaration on Climate Change, Energy Security and Clean Development. In the 2007 declaration, APEC aimed to reduce carbon emissions by at least 25 percent by 2030.

“Responding to climate change through transition to green economies also offers opportunities. We will ensure that efforts to address climate change are consistent with our international trade obligations,” the Singapore declaration stated.

The APEC leaders also vowed to share best practices in energy efficiency with a view to deploying cleaner and more efficient technologies.

“We will review progress on this at our meeting in 2010. We will also take steps to facilitate the diffusion of climate-friendly technologies, including through economic and technical cooperation and capacity building activities,” APEC leaders said.

The United Nations Framework Convention on Climate Change UNFCCC, the UN body that leads the negotiations for a new global climate change treaty, recently lauded Arroyo's efforts in putting climate change on top of her agenda.

“You have also enhanced your greenhouse gas reduction efforts and expanded your national climate change program. These initiatives are clearly forward-looking and hugely commendable,” said UNFCCC executive secretary Yvo de Boer, who met with the President in Manila last September to seek support for the 15th Conference of Parties in Copenhagen next month.

Arroyo is expected to attend COP-15 where world leaders will vote for the new climate change treaty, the press release said.*

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