APEC 2024 – Peru proposed a FCBDM agenda for finances more sustainable, digital, and resilient
APEC 2024 – Peru proposed a FCBDM agenda for finances more sustainable, digital, and resilient
After four days of intense technical meetings, on Saturday, February 24, the Meeting of Vice Ministers of Finance of APEC (Finance and Central Bank Deputies’ Meeting – FCBDM) and related workshops ended in the city of Arequipa.
The meeting brought together representatives of the Ministries of Finance of the 21 economies of the Asia-Pacific Economic Cooperation Forum (APEC), as well as representatives of the World Bank (WB), Asian Development Bank (ADB), Inter-American Development Bank (IDB), the International Monetary Fund (IMF), and the Organization for the Economic Cooperation and Development (OECD). They shared their experiences on growth prospects, international price trends, financial conditions, and the fiscal sustainability of the economies.
The meeting was chaired by Peru’s Vice Minister of Economy, Juan Pichihua, who presented the debate agenda that included the development of initiatives for financing focused on climate and sustainability effects, evaluating resource exchange tools for the creation of capacities to address financing issues in environmental sustainability.
During the days prior to the FCBDM (February 21 and 22), technical discussions were held on sustainable energy transition, carbon price measures and other related instruments, as well as the financing of hydrometeorological risks. This last issue being the first time it has been put on the agenda as part of the financial debate between the 21 APEC economies.
In this sense, the panelists gave an account of the main advantages and challenges they have faced in addressing public financial management of natural disasters. Also having a deep interest in the development of policies and programs that aim to reduce carbon consumption, mechanisms to achieve an energy transition, global trends that aim to achieve climate objectives, and technological solutions that lead to decarbonizing energy consumption.