Sydney—Asia-Pacific finance ministers Aug. 3 urged cooperation on the task of developing economic policies capable of helping the region meet the challenge of climate change while satisfying its huge demand for energy. Ministers representing the 21 member economies of the Asia-Pacific Economic Cooperation (APEC) forum, including the United States and China, met in Coolum, Australia, in the lead-up to a meeting of APEC leaders to be held in Sydney in September. A joint ministerial statement issued at the close of the finance meeting urged "practical cooperation . . . especially in the development and transfer of cleaner and more efficient technology and the strengthening of domestic carbon accounting and reporting frameworks." The statement described climate change as a major international challenge, "with implications for both the environment and the global economy." Finance ministers would play a key role "in developing and linking market-based economic policy responses" to provide greater energy security for the region while minimizing the environmental impact of energy use, it said.
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