Chile's move highlights urgency of action

In a surprise move, Chilean President Sebastian Pinera announced on Wednesday that his country would withdraw as the host of the Asia-Pacific Economic Cooperation meeting and the Cop 25 climate change conference scheduled for November and December.

He made the "painful" decision to cancel the key events after weeks of riots over inequality in Chile that have left at least 23 people dead. "I must always put the problems and interests of Chileans, their needs, their desires and their hopes first," he said.

This is a major setback for all APEC members, and the world at large given the issues to be discussed at the meeting and conference have global ramifications.