The country's commitment to reducing energy consumption and pollution was welcomed yesterday by world-renowned economists and leading business executives who said it would make  a positive contribution to cutting 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, "it will be a contribution to the world" as it would mean less emissions which are a direct cause of global-warming. 

 

"China's 11th Five-Year Guidelines seem 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 countries with rainforests who are curbing deforestation within an expanded Kyoto Protocol. Forests played an important role not only in cutting back on global warming but also in preserving bio-diversity.

 

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

 

Among the important areas in which the leadership required to take an interest, the Columbia University professor said, there was the need to help developing countries arrive at a common, positive platform on global warming.

 

Participants at the forum believed China's ‘green goals’ have the potential to 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 world mining giant.

 

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

 

(China Daily March 20, 2006)