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The country's commitment to reduce energy consumption and pollutant emissions was lauded yesterday by world-renowned economists and leading business executives, who said it would be a positive contribution to cut down global warming.
 
They also called for China's global leadership in tackling climate change and other environmental woes as the country pursues sustainable development in the newly-approved 11th Five-Year Guidelines (2006-10).

Referring to China's 2010 goal of cutting energy consumption per unit of GDP by a fifth from the 2005 figure, Nobel Laureate in Economics Joseph E. Stiglitz said that "it will be a contribution to the world" as it means less global-warming emissions.

"China's 11th Five-Year Guidelines seems to have taken this message to heart," Stiglitz told China Daily during an interview on the sidelines of a high-level forum on China's harmonious development organized by the China Development Research Foundation.

Stating that the scientific evidence on the threat of global warming and the link with greenhouse gas emissions is overwhelming, Stiglitz said China's commitment to increasing energy efficiency is "particularly commendable."

"But China should do more in terms of its new role of global leadership," said Stiglitz.

For example, he said, China could support the initiative of rainforest countries to curb deforestation within an expanded Kyoto Protocol as forests play an important role not only in avoiding global warming but also in preserving bio-diversity.

"China's plan to conserve resources will reduce timber imports; and it also can play a bigger role in helping developing countries with reforestation," said Stiglitz.

Among the important areas where that leadership needs to be exercised, the Columbia University professor said, is helping developing countries arrive at a common constructive platform on global warming.

Participants at the forum believe China's green goals provide business opportunities.

For instance, the government recently listed China's top 1,000 State-owned enterprises, which consume the lion's share of the energy used by industry, for potential savings.

"These goals mean business opportunities," said Mark Moody Stuart, chairman of Anglo American, a global mining giant.

The company is using new technology in Shaanxi Province which can slash carbon emissions by turning coal into gas and liquid fuel.

(China Daily March 20, 2006)