Experts suggest annual BRIC summit and democratisation of IMF-Part IV

May 15th, 2009 - 6:47 pm ICT by ANI  

Energy and Climate Change

24. Energy Security and climate change are two sides of the same coin. BRIC should coordinate their position at the forthcoming Copenhagen climate change negotiations and propose constructive approaches to international cooperation which address the needs and interests of all countries based on the agreed principle of “shared but differentiated responsibility”.

25. BRIC should reject any suggestion that makes ‘Green’ the new label for discriminatory protectionist practices

26. Even as the current downturn has de-stabilized financial markets and is threatening investments in energy and infrastructure which are going to be critical for future growth, it also presents an opportunity for a fresh dialogue on the principles of mutual energy interdependence which can protect the interests of both producers and consumers against unpredictable and dangerous volatility.

27. As some of the world’s largest producers as well as consumers of energy, BRIC countries can work toward developing the future architecture of world energy commerce. The need is to promote possibilities of finance and cross investments in energy infrastructure on a mutually beneficial basis.

28. BRIC countries should consult and cooperate to achieve a progressive diversification of energy sources to an appropriate fuel mix that includes fossil fuels, renewables and nuclear energy drawing upon on the resource and technology strengths of each nation

29. Reducing the energy intensity of their growth trajectory BRIC nations can collaborate to promote greater efficiency in the production, distribution and use of energy as possibilities for the biggest reductions in emissions are predicated on the achievement of these efficiencies.

30. Recognizing the inherent strengths of each of the four countries a mechanism for exchange and collaboration between Government’s and Institutions needs to be put in place that can help understand, and enable each country to adapt and apply successful practices of different countries and their systems of technology and policy innovation.
31. Institutions from these countries can come together to build a shared energy and technology database to further collaborative research on energy and climate change that can better help and understand the impact of energy production, and patterns of its use and consumption for mitigation and adaptation issues that affect these nations. (Contd.)

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