Tuesday January 17, 2006

World's big polluters to fund clean energy projects

news.yahoo.com :

Six of the world's biggest polluters, the United States, Australia, Japan, China, South Korea and India, will create a multi-million dollar fund to encourage mining and power industries to develop and use cleaner energy technologies to combat climate change. Combined, the six countries account for half the world's greenhouse gases from burning fossil fuels such as coal and oil and their Sydney meeting is the first for their clean-energy partnership. But the six nations did not reveal how much funding would be made available for new energy technology development.

Green groups said the two-day talks in Sydney were a facade and were aimed at subverting the Kyoto Protocol, which the United States and Australia refuse to sign claiming its mandatory greenhouse gas cuts would threaten economic growth. They said that without binding targets, which the Sydney climate pact will not propose, then it was doomed to fail. "Talk is cheap and the price of inaction is expensive," Greenpeace spokeswoman Catherine Fitzpatrick said. "The dirty, black fingerprints of the coal industry are all over this pact."

(2006-01-17 00:28:05 SGT) [Env] Permalink

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