25 June 2012: Energy ministers from the 21 countries in the Asia Pacific Economic Cooperation (APEC) group have announced a range of initiatives to improve energy security in the region, including developing renewable energy sources and boosting energy end-use efficiency.

The initiatives were announced at the close of the APEC Energy Ministerial Meeting held in St Petersburg, Russian Federation, from 24-25 June 2012. Ministers also affirmed a goal of reducing energy intensity by 45% from 2005 levels by 2035, asking members to share results of domestic research and analysis towards this goal. They also called on members to continue reporting on progress regarding fossil fuel subsidy reform.

The group’s cooperation partners include various multilateral fora and organizations, including the International Energy Agency (IEA), the International Energy Forum (IEF), the Association of Southeast Asian Nations (ASEAN) Centre for Energy (ACE), the Economic Research Institute for ASEAN and East Asia (ERIA), and the International Renewable Energy Agency (IRENA). [Ministerial Statement] [About APEC]