Latest news 26 May 2010
The trade, technology and policies of the US and China are “inextricably interwoven” when it comes to clean energy, a recent report conducted by Bloomberg New Energy Finance has revealed.
According to the study, the two countries will need to co-operate if they want to meet their respective carbon reduction goals.
Michael Liebreich, chief executive of Bloomberg New Energy Finance, explained the close ties: “While China has made significant inroads into the US photovoltaic market, Chinese modules are often manufactured using machines designed by US firms.
“Similarly, US-made wind turbines almost always contain parts sourced from China. The two nations may be in competition, but the big win for both of them would be to drive the cost of a clean power generation below the cost of fossil fuels.”
While the two countries are playing a significant role in the development of clean and renewable energy, they are also the world’s top polluters.
China is responsible for 21.5 per cent of the world’s total carbon dioxide emissions, while the US is answerable for 20.2 per cent.
Posted by Mark Stephens
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