Asia-Pacific Partnership Launches Clean Energy Fund

Australia and the US have earmarked $127 million to launch the fund.

Published: 20-Jan-2006

The inaugural meeting of the Asia-Pacific Partnership on Clean Development and Climate held last week in Australia has led to the launch of a new R&D fund for clean energy technologies, reports SciDev.Net. 

The partnership consists of Australia, China, India, Japan, South Korea and the US - six of the top greenhouse gas emitters in the world – none of whom has agreed to cut carbon emissions under the Kyoto protocol on climate change with the exception of Japan.

In contrast to the restrictions imposed by Kyoto, the Asia-Pacific pact sets no limits on members’ greenhouse gas emissions or their reliance on fossil fuel to meet growing energy demands. Instead the pact will focus on research and the use of new technologies to limit the release of greenhouse gases, According to a report by the Australian Bureau of Agricultural and Resource Economics, the pact could lead to a 30 per cent reduction in members’ emissions by 2050 compared to business as usual.

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