East West’s Ng Promotes Sustainable Business – Los Angeles Business Journal

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A A day before the official Asia-Pacific Economic Cooperation Summit in San Francisco, East West Bank Inc Dominic Ng On November 14, a press conference involving the associate members of the APEC Trade Advisory Council took place in the center of Moscow.

The chairman of the APEC Business Advisory Council reviewed the wide-ranging report of recommendations he had compiled for world leaders gathered that week. President Joe Biden And President Xi Jinping.

“My wish and the wish of our ABAC members is that they look at these recommendations, start to adopt some of them and turn them into policies and action plans,” Ng said before directing questions to his council colleagues.

APEC accounts for two-thirds of GDP and operates on the basis of non-binding commitments made by member countries on a voluntary basis.

In recent years, amid U.S. tariffs and export controls on semiconductors, the summit has become a test of relations between the U.S. and China.

Many looks

Business Council Press Release 9-to-5 Pasadena-based chairman and CEO of EastWest Bank, chairman of APEC’s Business Advisory Council In addition to 9-to-5 to N.G. The year the United States hosted the conference.

The Monday before the press conference, he held an interesting summit with the mayor of San Francisco. A breed of London.

Ng was thrust into the geopolitical spotlight last year when President Biden appointed the bank’s executive chairman of the 21-nation Chamber of Commerce. The move drew the ire of some House Republicans, who called for an investigation into Ng, a native of Hong Kong. Security concerns.

Despite the political wind that prompted East and West to issue a statement condemning the charges, he spoke for 18 months as chairman of the Chamber of Commerce and prepared a 54-page report proposing political, economic and technological innovations to solve international crises. Concerns such as climate change and cyber security are on the rise.

The report was drawn up at four meetings of the Business Advisory Council, three appointed representatives from each country, hovering over priorities and economic policy to push some of the world’s most powerful trading powers. Together with NG, he is representing America. Laura LaneAn Executive Vice President and Chief Corporate Affairs Officer United Parcel Service Inc.And Ginger LewSenior policy advisor at an infrastructure private equity firm I square capital.

The ever-growing urgency of reducing global greenhouse gas emissions guided the Council’s publications and was a key line in press releases.

The Business Advisory Council has released an independent statement on the climate, saying that businesses do not need to meet policymakers’ requirements to adopt sustainable practices and calling for the elimination of “inefficient” fossil fuel subsidies.

“The global landscape is being disrupted to a great extent – it means standing still. We are going backwards,” he said in a statement. “It has never been more important to work towards building greater resilience for our businesses, better living standards for our communities and a more sustainable future.”

Ng’s comments echoed similar sentiments he expressed to the Business Journal in May, emphasizing a more seamless and inclusive business economy that balances security and innovation.

Following this year’s summit, Peru will reprise its role as co-chair of the Business Advisory Council when it hosts the APEC summit next year.

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