The deals, designed to increase cooperation in the sector, cover areas such as aviation biofuel, distributed energy systems using natural gas as fuel, smart meters and cellulosic ethanol, the China Daily reported. A number of Chinese and U.S. companies would be involved in the eight deals.

The report quoted analysts that the agreements between the world’s two largest energy users would encourage global collaboration in increasing energy efficiency and protecting the environment.

The agreements came at the conclusion of the two-day China-U.S. Strategic and Economic Dialogues in Beijing.

Zhang Guobo, head of the National Energy Administration, also noted bilateral collaboration in renewable energy development, adding: “The United States has advanced technology, and China has a huge market,” the China Daily reported.

U.S. Ambassador to China Jon Huntsman was quoted as saying the two countries will “take every angle” to ensure their cooperation in energy and environment.

Zhang said renewable energy development is important for China to achieve goals of increasing the use of non-fossil energy to 15 percent of primary energy use by 2020, and reducing carbon intensity by 40 percent to 45 percent in 2020 from 2005 levels, China Daily reported.

He said China will continue to focus on the development of hydro, wind, solar, and biomass energy in the renewable sector.

Earlier, U.S. Energy Secretary Steven Chu was quoted as saying improving energy efficiency would both reduce greenhouse gas emissions and boost economic growth.
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“Energy and climate are extremely important to these people,” Gates told Friday a TED Conference audience packed with influential figures including the founders of Google and climate champion Al Gore.

Click here to view his speech

“The climate getting worse means many years that crops won’t grow from too much rain or not enough, leading to starvation and certainly unrest.”

Gates said he is backing development of “terrapower” reactors that could be fueled by nuclear waste from disposal facilities or generated by today’s power plants.

He broke down variables in a carbon-dioxide-culprit formula, homing in on a conclusion that the answer to the problem is a source of energy that produces no carbon.

“The formula is a very straight forward one,” Gates said. “More carbon dioxide equals temperature increase equals negative effects like collapsed ecosystems. We have to get to zero.”

To dramatize his point, Gates pulled out a large jar of fireflies in playful flashback to when he unleashed mosquitoes on a TED audience a year earlier while discussing battling malaria.

“They won’t bite,” Gates joked of the fireflies. “As a matter of fact, they might not even leave this jar.”

Gates touted terrapower as more reliable than wind or solar, cleaner than burning coal or natural gas, and safer than current nuclear plants.

“With the right materials approach it could work,” Gates said. “Because you burn 99 percent of the waste, it is kind of like a candle.”

Nuclear waste fed into a terrapower reactor would potentially burn for decades before being exhausted.

“Today we are always refueling the reactor so lot of controls and lots of things that can go wrong,” Gates said. “That is not good. With this, you have a piece of fuel, think of it like a log, that burns for 60 years and it is done.”

Researching and testing terrapower will cost hundreds of millions of dollars, with the building of a test reactor likely to cost in the billions.

Once the technology is proven, market forces will drive down costs, Gates predicted.

Work on terrapower hos been done in France and Japan, and there has been interest in India, Russia, China and the United States, according to the famed philanthropist.

Gates said that if he were allowed a single wish in the coming 50 years, it would be a global “zero carbon” culture.

“If I could pick a president or a vaccine, which I love, this is the wish I would pick,” he said.

“We need energy miracles. The microprocessor and Internet are miracles.

This is a case where we have to drive and get the miracle in a short time-line.”

Gates dismissed climate change skeptics, saying terrapower would render arguments moot because the energy produced would be cheaper than pollution-spewing methods used today.

“The skeptics will accept it because it is cheaper,” Gates said. “The might wish it did put out CO2, but they will take it.”

The world is at “an extraordinary moment” in the struggle to save the climate balance, according to former US vice president Gore.

A vital step will be to put a price on carbon dioxide emissions so the cost of polluting the air gets factored into the global economy.

Legislation to do that has cleared the US House of Representatives and must fight its way through the Senate, where it needs only a few more supporters to send the law on to the willing pen of President Barack Obama, Gore said.

“A price on carbon dioxide emissions can help us make the right decision, not only on nuclear, solar, and wind but on the gamut of energy alternatives available to us,” Gore said.

Gore’s Alliance for Climate Protection has organized groups in 22 US states with “swing senators” in the hope getting the legislation passed “before the political season gets completely wild.”

“These next few months represent the last feasible political window for quite some time to get this done,” Gore said. “So much is at stake we have to double down.”

This article is reproduced with kind permission of Agence France-Presse (AFP) For more news and articles visit the AFP website.

This work results from an 18-month combined effort with CEOs and experts, and dialogues with over 200 companies and external stakeholders in some 20 countries.

The report presents new opportunities for business in a broad range of business segments with the foresight to lead their societies on a sustainable business development agenda. Entitled Vision 2050: The new agenda for business, the report “lays out the challenges, pathway and options that business can use to create an opportunity-rich strategy, both regionally and globally, that will lead to a sustainable world,” said Dr. Mohammad A. Zaidi, Executive Vice President and Chief Technology Officer of Alcoa, who led the project as one of four co-chairs.

“The world already has the knowledge, science, technologies, skills and financial resources needed to achieve Vision 2050. However, concerted global action in the next decade will be required to bring these capabilities and resources together, putting the world on the path to sustainability,” explained WBCSD President Bjorn Stigson.

The publication outlines a future in which 9 billion people live well, enjoying health, food, shelter, energy, mobility, education and other basics of life. Syngenta CEO, Michael Mack added that “humanity has largely had an exploitative relationship with our planet; we can, and should, aim to make this a symbiotic one.” In the Vision 2050scenario, global society attains this standard of living at a sustainable rate, without further harm to biodiversity, climate and ecosystem services.

The report states that the world already has the resources to achieve Vision 2050,but there is a catch: “The radical changes highlighted in Vision 2050 demand a different perspective from business leaders, requiring them to rethink how they operate to stay on-track for a sustainable future,” added Samuel A. DiPiazza Jr., former CEO and Chairman of PricewaterhouseCoopers. This includes a radical transformation of global markets, governance and infrastructure, and a re-thinking of our ideas of growth and progress.

Vision 2050 spells out the “must haves” – the things that must happen over the coming decade to make a sustainable planetary society possible. These include incorporating the costs of externalities, starting with carbon, ecosystem services and water, into the structure of the marketplace; doubling agricultural output without increasing the amount of land or water used; halting deforestation and increasing yields from planted forests: halving carbon emissions worldwide (based on 2005 levels) by 2050 through a shift to low-carbon energy systems and improved demand-side energy efficiency, and providing universal access to low-carbon mobility.

As part of this transformation, Vision 2050 calls for a new agenda for business: to work with government and society worldwide to transform markets and competition. “Sustainability will become a key driver for all our investment decisions,” added Idar Kreutzer, CEO of Storebrand and another project co-chair. New rules for markets will reframe environmental challenges as economic challenges, driving innovation and competition in the direction of sustainability and away from resource- and energy-intensive production. Rationalizing prices to include such externalities as climate and biodiversity impacts will make corporate environmental efficiency a true competitive advantage across all industries and regions.

Business will lead market change by doing what business does best: forming partnerships, creating efficiencies and competitive advantage, seizing opportunities and meeting customer needs. At the same time, a shift toward sustainability will trigger trillions of dollars in new investments in infrastructure, technology and human services, creating new opportunities for business to thrive and grow. A recent study commissioned for this project with PricewaterhouseCoopers and released today indicates that this investment could reach US$ 3-10 trillion per annum in 2050.

Vision 2050, with its best-case scenario for sustainability and pathways for reaching it, is a tool for thought leadership, a platform for beginning the dialogue that must take place to navigate the challenging years to come. “It is hoped that the Vision 2050 work will be used for many years to come. It is designed to be a platform for companies when deliberating strategies and for dialogue with governments and society about how to realize the sustainable future,” concluded Per Sandberg, Project Director for Vision 2050.

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• Vision 2050: The new agenda for business – full report ( 2.6 MB)
• Vision 2050: The new agenda for business – summary report ( 2.4 MB)