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G8 Report Transcription (Page 7)

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• ·monitor the implementation of the necessary measures and discuss progress at two-year intervals during the Environmentally Friendly Vehicles Conference the results of which shall be reported to G8-leaders,
• ·introduce energy efficiency labels for new cars along the lines of those already on some white goods.

Power Generation

Over the next 25 years, fossil fuels will remain the world's dominant source of energy. Making power generation more efficient, climate friendly and sustainable is therefore crucial.

Current innovations in power station design bear significant saving potential. Therefore, we will

• ·stimulate investments in high efficient power plants and grids and promote refurbishment of existing ones by an appropriate national policy framework. By this we aim to increase average power plant efficiencies in each of our countries.
• ·continue and expand national and international research and development efforts to further advance modern power station technologies, with the aim of achieving higher efficiency levels
• ·adopt instruments and measures to significantly increase the share of combined heat and power (CHP) in the generation of electricity.

The centre of gravity of global energy demand is continuously shifting towards the emerging economies. We will

• ·enhance energy co-operation with those countries as a priority issue, including by actively supporting co-operative research, voluntary technology partnerships and private investment in clean technologies,
• ·work in close partnership with industry, science and with governments of other industrialised countries and, in particular, of major emerging economies in order to foster the diffusion and adoption of best practices along the entire fossil fuel process chain with a focus on fuel treatment as well as new and existing power plants. We particularly underline the need to promote capacity building and technology transfer on plant renovation and modernisation. To achieve these goals we will invite the IEA to take a central role in guiding our joint efforts.

In recognition of the increasingly urgent needs to achieve longer term greenhouse gas abatement, we will work on accelerating development and deployment of carbon capture and storage (CCS), including by

• ·prioritising national and international research and development efforts and encouraging international research and technology cooperation, to minimise efficiency losses of the different carbon capture technologies and to clarify geotechnical conditions for secure CO2 storage,
• ·encourage research, development and deployment of clean coal technologies in both developed and emerging economies with the highest energy needs,
• ·supporting national and international geoscientific and political efforts in the field of CCS on ensuring security of storage and the provision of necessary legal frameworks to create a stable investment climate, thereby working in cooperation with industry as well as national and international research programmes,
• ·reinforcing our commitment made under the Gleneagles and St. Petersburg Plans of Action to support the initiatives taken by IEA and Carbon Sequestration Leadership Forum (CSLF),
• ·encouraging our governments to design mechanisms to stimulate the construction and operation of a growing number of large-scale demonstrations of sustainable fossil fuels technologies in commercial power generation.
• ·encouraging industry to consider the concept of capture ready when developing new fossil fuel power plant (continued on next page)

Photo Credit: German Federal Government/Gebhardt