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Key to Asia-“sustainable Pacific’s future” is the “BCG” model: PBBM

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According to President Ferdinand R. Marcos Jr., the Asia Pacific Economic Cooperation (APEC) member economies’ adoption of Thailand’s “Bio-Circular-Green” (BCG) economy model will assist create a “sustainable future” in the Asia-Pacific region.

The BCG approach, according to Marcos, will ensure a “level playing field” for all APEC members and lessen their susceptibility to the coronavirus disease 2019 (Covid-19) pandemic. Marcos made this statement in front of his fellow Asia-Pacific leaders.

In his remarks during the Retreat Session of the 29th APEC Economic Leaders’ Meeting, he stated: “It is for these reasons that the Philippines welcomes and supports the adoption of the Bangkok Goals on the Bio-Circular-Green (BCG) Economy, which is a concrete initiative that will lead the Asia-Pacific region towards a sustainable future” (AELM).

The statement was made by Marcos, who bemoaned the “uneven” recovery of the nations affected by the epidemic due to a lack of complete support for the “green transition.”

“My dear friends, it is clear that recovery has been unequal as the world emerges from the downturn brought on by the pandemic. Even I might go so far as to say that it hasn’t been fair and hasn’t supported a green transition enough,” he remarked. “Economies must make use of this chance to reassess policy in order to support a green post-pandemic recovery.”

The 21 APEC member economies are expected to approve the final version of the economic model, known as the “Bangkok Goals on Bio-Circular-Green Economy,” during the 29th summit.

With a focus on four essential areas—climate change mitigation, sustainable trade and investment, environmental conservation, and waste management—the BCG economy model will serve as a path for APEC sustainability and equitable growth.

Marcos supported the BGC model, claiming it would lessen the “scarring and future” economic damage.

By ensuring “well-distributed” economic growth, the economic model, according to him, would also strengthen social cohesiveness.

According to Marcos, the BCG model will help make Philippine institutions “responsive to the challenges brought by the current economic problems” and will align with his administration’s objective to create green and quality jobs.

He cited the Philippines’ adoption of the Sustainable Finance Roadmap, which outlines a whole-of-government approach to promote sustainable finance and green policies, as evidence of the country’s exceptional chance to use sustainability tools to enhance the resilience of people and enterprises.

Marcos also stated that the immediate implementation of the Green Jobs Act, the establishment of the green jobs certification system and incentive schemes, the development of the green workforce, and the issuance of green bonds for its infrastructure program are the current socioeconomic priorities of his administration.

He added, “We actively advocate the deployment of creative and sustainable supply chain systems and circular economy models that can regularly collect non-biodegradable packaging and industrial, agricultural, and construction trash for recycling and upcycling.

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