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Symposium 2009

Solution for The Energy Crisis and Climate Change

The Challenge

The future global economy is likely to consume ever more energy, especially with the rising energy demand of developing countries such as China and India. At the same time, the tremendous risk of cl ...

The future global economy is likely to consume ever more energy, especially with the rising energy demand of developing countries such as China and India. At the same time, the tremendous risk of climate change associated with the use of fossil fuels makes supplying this energy increasingly difficult.

Pursue international cooperation to promote investment in new energy technologies, together with the associated training, in developing regions.

A key to worldwide reduction of carbon emissions is improved energy infrastructure in developing regions. It is necessary to remove institutional hindrances for the installation of new energy technologies in those areas as muchas possible. Policy-makers need to set up clear political and financial frameworks to facilitate investment in new energy technologies, both domestically and across borders.

Moreover, training and participation of the local population in the installation and application of new energy technologies can promote their understanding of the technologies and can fit the technologies to the local conditions.

The development, diffusion, and application of new energy solutions may be fostered through all channels of international cooperation. The main actors would be multinational companies and investors. For example, they might invest in large-scale solar energy projects in African deserts, in large-scale offshore wind parks in Europe, or in CCS-equipped power plants in China.

Policy-makers should set a sound legal framework to give the right incentives to business initiatives, possibly by specifying energy efficiency standards on products. Where an efficient allocation fails, scientific advisers should identify policy strategies to promote international private investment and technology diffusion, for example, by sorting out institutional barriers in implementing energy-saving technologies.

They should also provide guidance on effective public investment in R&D and foreign aid. Given the increasing demand for energy in developing countries, a particular focus should fall on efforts to transfer technologies to these countries.

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