EU to boost funding on China energy, environment work

The European Union plans to provide another 40 million euro ($52 million) of funds to expand cooperation and research with China in energy and the environment. The funding will go mainly into projects that focus on climate change and the environment, the EU ambassador to China, Serge Abou, said at a briefing in Beijing today. The EU and China are already working on a 20 million euro energy and environment project, he said, without providing more details. China, the world’s biggest energy user after the US, wants to revise energy pricing policy to ensure consumption costs are high enough to encourage conservation and deter waste.
China aims to cut the amount of fuel used to produce each unit of gross domestic product by 20% in five years. It failed to meet the target set for last year. The projects “will touch on the three elements of technology transfer, people awareness and good regulations,’’ Abou said. For China “the long march was started by one step, one step was very important as in political decision. We see progress.’’ The EU also proposed setting up a European energy technology center in China to foster exchange of research and technologies including clean coal, energy savings and renewables, Abou said.

FinancialTimes