ABAC REGIONAL EFFORTS AND EFFECTS. New Zealand Prime Minister Chris Hipkins (fourth from left) graced the ABAC meeting and stressed the important role of the business community in tackling shared challenges. In photo (from left) ABAC PH Member and Lead Staffer Patrick Chua, ABAC International Secretariat Director Tony Basilio, Liveable Cities Challenge Chairman and ABAC PH member Guillermo Luz, New Zealand Prime Minister Chris Hipkins, Aboitiz Group Chief Reputation and Sustainability Officer Ginggay Hontiveros, DFA Assistant Secretary Gina Jamoraline, and Harrison Profiles International Managing Director Cory Luz.

Aboitiz presents sustainable growth work plan for ABAC

February 18, 2023 People's Journal 225 views

ASIA-Pacific business leaders of the APEC Business Advisory Council (ABAC) recently inaugurated their year-long journey of constructive collaboration to support a rapidly advancing and connected region.

Held in Auckland, New Zealand, ABAC I was the first of four official ABAC meetings that will take place in 2023. The meetings will culminate in the commission of reports and the development of recommendations to be shared in a dialogue with APEC leaders and policymakers. This will ultimately lead to collective leadership and decisive action that will advance common goals for regional sustainability and economic inclusion.

Aboitiz Group President and Chief Executive Officer (CEO) and ABAC PH member Sabin Aboitiz holds the distinction of 2023 ABAC Sustainable Growth Working Group Vice Chair.

For ABAC I, Aboitiz presented on important sustainability topics, including decarbonization efforts with nuclear energy and the democratization of climate risk information. This kickstarted insightful and productive discussions amongst regional business leaders to develop comprehensive work plans for sustainable growth.

Aboitiz Group First Vice President and Chief Reputation & Sustainability Officer Ginggay Hontiveros delivered the presentations.

The presentation on nuclear energy tackles the issue of energy transformation for equity and security, looking at nuclear energy and small modular reactors (SMRs) as viable zero-carbon energy sources. Beyond its decarbonization role, the ABAC Sustainable Growth Working Group recognizes nuclear energy’s viability to fuel the energy transformation of society given its high energy return on investment (EROI) and its weather independence.

Aboitiz’s presentation provides insight into those opportunities and potential challenges. Research and technical development with key stakeholder groups and subject matter experts are paramount to the success of energy transformation.

The presentation on a climate risk information platform tackles the current gaps in information on climate risk scenarios between economies. ABAC recognizes the need to democratize this information. The climate threat is a shared risk and responsibility. A unified platform for free data on climate risk scenarios that helps one economy would help all.

Additionally, following the 2021 ABAC proposition to adopt and develop indicators to measure the social and economic progress achieved by APEC economies, ABAC is considering the ABAC PH proposal on the adoption of a living wage as an indicator. This would address structural inequalities within APEC economies.

Under the 2023 ABAC theme “Equity. Sustainability. Opportunity.”, these presentations lay the groundwork for ABAC as they plan further measures that will advance regional goals.

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