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Today's paper. Last Updated: 02/14/2012

G8 and G5 Sign Agreement on Environment

Bloomberg
Leaders of the world’s biggest developed and emerging nations agreed Thursday to pursue efforts to promote energy security and a greener economy.

China and the United States, the world’s largest consumers of coal, were among the countries that agreed on the need to make heavily polluting coal-fired power plants more efficient and environmentally acceptable, according to a statement from the Group of Eight and Group of Five nations.

The statement called for efforts to improve energy efficiency and invest in renewables to help reduce emissions of gases causing global warming. Existing coal power plants, which spew more carbon dioxide into the air than other fossil fuels, can be partly remedied by retrofitting, the statement said.

China, which consumes more than 40 percent of the world’s coal, is part of the G5 developing nations, along with Brazil, India, Mexico and South Africa.

The officials also agreed on the value of sharing best-practice information on energy efficiency in buildings, and that greater use of renewables is the best path toward a low-carbon economy.

Investment in renewable energy is “slowing down” because of the economic contraction and the countries “welcome the inclusion of renewable energy in economic stimulus plans.”





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