New Zealand pushing fuel subsidy reform as APEC meetings

New Zealand Transport and Energy and Resources Minister Simon Bridges will be pushing for an end to fossil fuel subsidies and promoting the country as a place for exploration at APEC meetings in the Philippines this week.

Bridges will attend the ninth Asia-Pacific Economic Cooperation (APEC) Transportation Ministerial Meeting on Oct. 8-10 and the 12th APEC Energy Ministerial Meeting on Oct. 12-14 in Cebu.

The minister said on Wednesday that he would promote New Zealand as an exploration destination that took a mixed and balanced approach to the world's energy future.

"New Zealand is pursuing opportunities in both renewable and non-renewable energy. We are a world-leader in renewable energy generation, and I will take every opportunity to promote our renewable advantage," Bridges said.

"In my bilateral meetings I will also be encouraging APEC members to join New Zealand in leading the way to fossil-fuel subsidy reform by endorsing the Fossil Fuel Subsidy Reform Communique that will be delivered to the Paris climate conference in December," he said.

Fossil fuel consumption subsidies in 37 countries cost an estimated 409 billion U.S. dollars in 2010 -- almost 110 billion U. S. dollars more than in 2009, according to New Zealand's Ministry of Foreign Affairs and Trade.

Research indicated that removing subsidies could reduce global carbon dioxide emissions by up to 10 percent by 2050, which would make a substantial contribution to keeping global warming below 2 degrees Celsius in 2050, said the ministry.

The Transportation Ministerial Meeting would include sessions on investment, resilience, intelligent transport systems and clean technology.

"These are all areas where we have a strong interest, and I plan to showcase New Zealand's adaptive approach to emerging trends in the global transportation sector," he said. Endi