Apec session to focus on carbon credits, tax

Apec session to focus on carbon credits, tax

The meetings are expected to focus on sustainability. (Photo: Reuters)
The meetings are expected to focus on sustainability. (Photo: Reuters)

The carbon tax and carbon credit markets will be major topics of discussion at the finance ministers' meeting at the Asia-Pacific Economic Cooperation (Apec) summit in Thailand this year, says Fiscal Policy Office adviser Warotai Kosolpisitkul.

The Apec finance ministers' meeting is scheduled before the leaders' meeting. The two themes of the finance ministers' meeting are sustainable finance and the digital economy, Mr Warotai said.

Sustainable finance focuses on the use of fiscal tools to create sustainability, such as green bonds and a carbon tax to combat climate change.

A meeting of finance ministry deputy permanent secretaries and deputy central bank governors of Apec nations is scheduled for March 16-17 to set the meeting agenda.

A subsequent meeting is planned for ministries' director-generals during June 24-25 to wrap up all details.

The 2022 Apec summit in Thailand is geared towards business sustainability, which should become more important once the pandemic is controlled.

As host, Thailand wants to chart a future for the region after Covid-19 is under control. Apec nations want to promote long-term growth that is resilient, inclusive, balanced and sustainable.

The theme for Apec 2022 is "Open. Connect. Balance."

The 21 member economies of Apec account for 38% of the world's population and around 59% of its GDP.

The Thai business sector is expected to introduce the bio-, circular and green economic model for discussion, and propose capital funding to help businesses in the 21 economies during the Apec Business Advisory Council meetings, aimed at providing advice to leaders.

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