ASEAN to cut dependence on conventional fuels, boost biofuels
The Association of South-East Asian Nations (ASEAN), which unites ten rapidly growing economies, will be holding its 12th Summit in Cebu, Philippines next week, with leaders from 'dialogue partners' (China, India, Japan, South Korea, Australia and New Zealand) expected to attend as well in the context of the second East Asian Summit, which is taking place simultaneously.
According to details of a draft pact obtained by the media ahead of the summit, ASEAN countries will be cooperating to reduce their dependence on conventional fuels and explore stockpiling oil as part of a sweeping energy programme. The draft is to be signed by the 10 ASEAN leaders and their dialogue partners.
The leaders will pledge to work closely to limit dependence on "conventional fuels through intensified energy efficiency programs, expansion of renewable energy systems and biofuel production and utilization." ASEAN energy ministers earlier this year called for greater cooperation to boost renewable energy so as to minimise the impact of soaring oil prices which cast a shadow over one of the world's most dynamic regions.
The pact will also call for a greater effort to minimise greenhouse gas emissions from the region, and to "harmonize standards for biofuels", the draft says:
energy :: sustainability :: climate change :: energy security :: fossil fuels :: renewables :: bioenergy :: biofuels :: East Asia Summit :: ASEAN ::
Furthermore, the summit will call on oil-rich countries to use the dollars they earn from rising world oil prices for "equity investment and long-term, low interest loan facilities" for developing countries that import energy.
The inaugural East Asian summit held in Kuala Lumpur last year expressed "grave concern" over the negative impact of a prolonged increase in oil prices on the region's growth prospects.
At the Asia-Pacific Economic Cooperation summit, another regional initiative held recently in Vietnam, South-East and East Asian countries agreed to create a Biofuels Taskforce aimed at studying and implementing bioenergy projects across Asia (earlier post).
According to details of a draft pact obtained by the media ahead of the summit, ASEAN countries will be cooperating to reduce their dependence on conventional fuels and explore stockpiling oil as part of a sweeping energy programme. The draft is to be signed by the 10 ASEAN leaders and their dialogue partners.
The leaders will pledge to work closely to limit dependence on "conventional fuels through intensified energy efficiency programs, expansion of renewable energy systems and biofuel production and utilization." ASEAN energy ministers earlier this year called for greater cooperation to boost renewable energy so as to minimise the impact of soaring oil prices which cast a shadow over one of the world's most dynamic regions.
The pact will also call for a greater effort to minimise greenhouse gas emissions from the region, and to "harmonize standards for biofuels", the draft says:
energy :: sustainability :: climate change :: energy security :: fossil fuels :: renewables :: bioenergy :: biofuels :: East Asia Summit :: ASEAN ::
Furthermore, the summit will call on oil-rich countries to use the dollars they earn from rising world oil prices for "equity investment and long-term, low interest loan facilities" for developing countries that import energy.
The inaugural East Asian summit held in Kuala Lumpur last year expressed "grave concern" over the negative impact of a prolonged increase in oil prices on the region's growth prospects.
At the Asia-Pacific Economic Cooperation summit, another regional initiative held recently in Vietnam, South-East and East Asian countries agreed to create a Biofuels Taskforce aimed at studying and implementing bioenergy projects across Asia (earlier post).
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