The two sides agreed that the transition to a green and low-carbon economy is essential and that the clean energy industry will provide vast opportunities for citizens of both countries in the years ahead and welcomed significant steps forward to advance policy dialogue and practical cooperation on climate change, energy and the environment, building on the China-U.S. Memorandum of Understanding to Enhance Cooperation on Climate Change, Energy and Environment announced at the first round of China-U.S. Strategic and Economic Dialogues this July and formally signed during the Presidential visit.
The two sides recognized the importance of the Ten Year Framework on Energy and Environment Cooperation (TYF) and committed to strengthen cooperation in promoting clean air, water, transportation, electricity, and resource conservation. Through a new China-U.S. Energy Efficiency Action Plan under the TYF, China and the United States will work together to achieve cost-effective energy efficiency improvements in industry, buildings and consumer products through technical cooperation, demonstration and policy exchanges. Noting both countries significant investments in energy efficiency, the two Presidents underscored the enormous opportunities to create jobs and enhance economic growth through energy savings.
The two sides welcomed the signing of the Protocol Between the Ministry of Science and Technology, National Energy Administration of the People's Republic of China and the Department of Energy of the United States of America on a Clean Energy Research Center. The Center will facilitate joint research and development on clean energy by teams of scientists and engineers from both countries, as well as serve as clearing house to help researchers in each country,with public and private funding of at least $150 million over five years split evenly between the two countries. The Center will have one headquarters in each country. Priority topics to be addressed will include energy efficiency in buildings, clean coal (including carbon capture and sequestration), and clean vehicles.
The two sides welcomed the launch of China-U.S. Electric Vehicles Initiative designed to put millions of electric vehicles on the roads of both countries in the years ahead. Building on significant investments in electric vehicles in both the United States and China, the two governments announced a program of joint demonstration projects in more than a dozen cities, along with work to develop common technical standards to facilitate rapid scale-up of the industry. The two sides agreed that their countries share a strong common interest in the rapid deployment of clean vehicles.
The two sides strongly welcomed work in both countries to promote 21st century coal technologies. They agreed to promote cooperation on large-scale carbon capture and sequestration (CCS) demonstrations projects and begin work immediately on the development, deployment, diffusion and transfer of CCS technology. The two sides welcomed recent agreements between Chinese and U.S. companies, universities and research institutions to cooperate on CCS and more efficient coal technologies.
The two sides welcomed the signing of the Memorandum of Cooperation between the National Development and Reform Commission of China and Environmental Protection Agency of the United States to Build Capacity to Address Climate Change.
The two sides welcomed the launch of a China-U.S. Renewable Energy Partnership. Through this Partnership, the two countries will chart a pathway to wide-scale deployment of wind, solar, advanced bio-fuels and a modern electric power grid in both countries and cooperate in designing and implementing the policy and technical tools necessary to make that vision possible. Given the combined market size of the two countries, accelerated deployment of renewable energy in China and the United States can significantly reduce the cost of these technologies globally.