G8 leaders commit to promote renewables

ST PETERSBURG, Russia, July 26, 2006 (Refocus Weekly) Leaders of the world's industrialized countries have expressed support for open and transparent energy markets, and promise to take measures to “promote wider use of renewable and alternative energy sources.”

Leaders of the United States, Russia, Japan, Germany, France, England, Italy and Canada adopted a statement on global energy security at the end of a two-day meeting of the G8, in which they recognize the “shared interest of energy producing and consuming countries” and committed to open, transparent and competitive energy markets as key to global energy security.

During the summit, oil prices rose to US$78 a barrel and the final statement notes that more efforts are needed to reduce consumption in the transportation sector, which is responsible for two-thirds of the world's oil use. The summit agreed on a seven-point Plan of Action which includes improving the investment climate in the energy sector, enhancing energy efficiency and energy saving, diversifying the energy mix, and addressing climate change and sustainable development.

“We consider it important to facilitate capital flows into power generation, including to build new, more efficient power plants, upgrading existing plants to include wider use of renewables, and to construct transmission lines, develop interregional energy infrastructure and facilitate exchange of electrical power, including trans-border and transit arrangements,” it states. “Diversification of the energy mix reduces global energy security risks; we will work to develop low-carbon and alternative energy, to make wider use of renewables and to develop and introduce innovative technologies throughout the entire energy sector.”

“A large-scale use of renewable energy will make a significant contribution to long-term energy supply without adverse impact on climate,” explains the section on renewables in the 55-point communique. “The renewable solar, wind, hydro, biomass, and geothermal energy resources are becoming increasingly cost competitive with conventional fuels, and a wide variety of current applications are already cost-effective. Therefore, we reaffirm our commitment to implement measures set out in the Gleneagles Plan of Action.”

“We welcome the work of interested parties in international mechanisms and programs dealing with renewable energy, including the Renewable Energy & Energy Efficiency Program, the Renewable Energy Policy Network for the 21st Century, and the Mediterranean Renewable Energy Partnership,” it says. “We welcome the establishment of the Global Bio-Energy Partnership; we will work in partnership with developing countries to foster the use of renewable energy.”

“We will continue enhancing international cooperation in using the potential of biomass, and advanced sustainable forest management practices,” it says. “Both help to diversify local energy consumption and make an important contribution to carbon sequestration, as well as furthering a wide range of economic and environmental benefits.”

“We will facilitate development of local energy resources, including those based on core generation technologies and on renewable energy, such as hydropower, wind power, geothermal power, biomass, and the effective use of solar energy, to contribute to poverty reduction and long-term energy sustainability in developing countries,” it continues. “These measures include developing energy infrastructure capable, inter alia, of reducing vulnerability to energy shocks.”

“We instructed our experts to work together with other countries, international and regional financial institutions (World Bank, Regional Development Banks, UN agencies, etc), the private sector and other stakeholders to facilitate technology transfer in the areas of energy efficiency, energy saving, renewable energy and decentralized local sources to reduce energy poverty thereby improving energy access and enhancing energy efficiency in developing countries,” it concludes. Concerted efforts may improve energy efficiency and promote energy conservation in developing countries by promoting renewable energies.

“We welcome the progress made by the World Bank and the IEA on developing a framework for clean energy and sustainable development and on identifying alternative energy scenarios and strategies to support and implement elements of the Gleneagles Plan of Action,” it states.


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