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G8 Report Transcription (Page 8)

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We reaffirm our support of the efforts of the Global Gas Flaring Reduction Partnership (GGFR) and we commit ourselves to reduce to minimal levels natural gas flaring, and to encourage all oil producing states and private sector stakeholders to do likewise.

Industry

Over the next 25 years, global energy consumption in the industrial sector is projected to increase significantly. There is a considerable potential for improving energy efficiency. Therefore, we will

• ·cooperate more closely with major emerging economies and leading industries on improving energy efficiency in energy intensive industries utilising on-going work of the IEA for developing sector energy efficiency indicators and combining good practices.
• ·encourage the introduction of cost-effective technology as well as promote research and development for further innovation for breakthrough of the technology in such areas as iron, steel and cement.

Energy Diversification

Diversification of energy sources, markets, transportation routes and means of transport and types of energy is essential to energy security and to a low-carbon energy path. Increasing and varying our sources of energy helps to defuse the risks of disruption from any one source. Increasing the use of alternative sources of energy can over time greatly relieve pressure on markets for conventional fossil fuels and reduce the adverse environmental impacts of energy use.

Underlining the importance of energy diversification, and recognising that G8 members will choose different ways to achieve their energy diversity goals, we

• ·will continue to develop and implement the policy frameworks needed to support our intensive commitment to the global use of all clean fuels, including clean coal, renewable energy sources (wind, solar, geothermal, bioenergy, hydro power). We will make efforts to integrate renewables into the power grid,
• ·reaffirm our pledge at former summits regarding the peaceful use of nuclear energy. Those of us who have or are considering plans relating to the use and/or development of safe and secure nuclear energy believe that its development will contribute to global energy security, while simultaneously reducing harmful air pollution and addressing the climate change challenge.
• ·reaffirm our commitment to work towards the reduction or, where appropriate, the elimination of tariff and non-tariff barriers to environmental goods and services through the WTO Doha negotiations, which will also help us to address our shared energy security and climate goals,
• ·welcome concerted global action to promote renewable energy and the support of interested parties for initiatives and partnerships such as the Renewable Energy Policy Network for the 21st Century (REN21), the Renewable Energy and Energy Efficiency Program (REEEP), the Global Bio-Energy Partnership (GBEP) and the Mediterranean Renewable Energy Partnership (MEDREP),
• ·take note of national and international initiatives to go along with the further development of a peaceful use of nuclear energy including the GlobalNuclear Energy Partnership (GNEP), the Russian initiative on multinational centres to provide nuclear fuel cycle services, the Six party proposal of a standing mechanism for reliable access to nuclear Fuel, the Japanese initiative on IAEA standby arrangements system for the assurance of nuclear fuel supply, and the German initiative for an enrichment centre under the exclusive control of the IAEA as well as ongoing debate on other multilateral approaches to a nuclear fuel cycle for a reliable fuel supply program, the work of the International Project on Innovative Nuclear Reactors and Fuel Cycles (INPRO), and advanced nuclear energy research under the Generation IV International Forum (GIF). (continued on next page)

Photo Credit: German Federal Government/Gebhardt