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| 30-03-2006 |
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G8 energy ministers support renewables |
MOSCOW, Russia, March 29, 2006 Wider use of renewable and alternative energies would “contribute substantially” to diversify the world’s energy portfolio, according to energy ministers of the G8 nations.
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“Diversification of the energy portfolio in terms of energy sources, suppliers and consumers, as well as delivery methods and routes, will reduce energy security risks not only for individual countries but for the entire international community,” states the final communique of the G8 Energy Ministerial summit in Moscow. “Joint efforts of the G8 and other countries aimed at wider use of renewable and alternative energies, development and implementation of innovative energy technologies and development of low-carbon energy would contribute substantially to the solution of this strategic task.”
“For those countries that wish, wide-scale development of safe and secure nuclear energy is crucial for long-term environmentally sustainable diversification of energy supply,” it adds.
“The reliable energy supply plays a key role in development of world’s economies bearing in mind that the well-being, way and quality of life of people directly depend on access to energy,” the document explain after the March 15-16 meeting. “The 21st century is sure to witness a significant increase of the global consumption of energy, primarily by dynamically developing economies.”
“Despite the increased presence of alternative sources in the energy mix, the fossil fuels will remain the basis of the world energy industry for at least the first half of the 21st century,” and ministers discussed the challenges to the global energy security and agreed that there must be “reliance on market-oriented approaches aimed at increasing energy supply and stemming growth in demand, while encouraging market-based pricing, competition, energy efficiency, and conservation.”
“A stable future of the international energy sector requires significant investment in the production, transportation and processing of energy resources,” it continues. “We recognize that to attract investment, it is essential for countries to have open and favourable investment regimes including stable and predictable regulations, clear tax laws, and efficient administrative procedures as well as fair and reciprocal access to markets along the energy value chain.”
The ministers reiterated support for the implementation of the action plan adopted last year by G8 leaders in Gleneagles, which includes measures to promote innovations, increase energy efficiency and enhance environmental protection. They agreed that continued international cooperation to develop low-carbon technologies of the future will be crucial, and “facilitating development and deployment of innovative energy technology solutions will have longer-term environmental, economic and energy security benefits and be key to a global sustainable energy future.”
The G8 Energy Ministerial meeting was attended by representatives of the World Bank, OPEC, International Energy Agency, International Energy Forum, International Atomic Energy Agency, as well as energy ministers from India, China, Brazil, Mexico, and South Africa. It was chaired by energy minister Viktor Khristenko of the Russian Federation.
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