- CNTV English - CCTV News

G20 gov'ts urged to support private sector in renewable technologies

11-11-2010 17:21 BJT Special Report:5th G20 Summit in Seoul |

SEOUL, Nov. 11 (Xinhua) -- The on-going G20 Business Summit recommends the governments of the world's major advanced and developing countries to take actions in supporting the private sector in clean energy technologies.

Global heads of business gather for a group photo at the G20 Business summit in
Seoul, capital of South Korea on November 11, 2010.(Xinhua Photo)

The private sector plays an important role in addressing energy issues and promoting sustainable economic growth. But the renewable technologies face cost and competitiveness challenges, said the participants at a round-table session of the G20 Business Summit, held here Thursday.

The development of such technologies is still at its early stage and the prices of some materials needed for the technologies are very high, which makes most renewable energy sources uncompetitive on price with existing fossil fuels.

The participants, all CEOs of the world's leading technology companies, said one effective way of closing the cost gap between fossil-generated energy and the renewable sources-produced energy is to phase out fossil fuel subsidies encouraging wasteful consumption as soon as possible.

The G20 countries should also take the lead in pricing carbon emissions within the context of their own national circumstances, they said.

The governments are advised to strengthen public-private partnerships to help develop energy sources and hold regular meetings of energy-related ministers.

"Energy-related ministers should discuss regulatory issues, including international standards for renewable and low-carbon technologies, tariffs and trade barriers, protection of intellectual property rights," said the participants' discussion report for the round table session.

The Seoul G20 Business Summit brings together G20 heads of state and approximately 120 top business leaders from the G20 countries and some non-G20 countries to jointly address "the Role of Business for Sustainable and Balanced Growth."

Editor:Du Xiaodan |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program