Business, investment focus at renewable-energy meeting

( dpa )- Investment in renewable energy technologies has skyrocketed in recent years, and bolstering the rapidly expanding business sector - widely considered a key to tackling climate change - is the focus of a major international conference this week.

The United States is hosting government ministers from more than 80 countries as well as green-technology companies and non- governmental organizations focused on energy and the environment, who will all have a chance to showcase their talents from Tuesday to Friday at the Washington International Renewable Energy Conference.

It is the third such gathering after similar meetings in 2004 in Bonn and a 2005 follow-up in Beijing. Bonn participants for the first time agreed to an international "action plan" to foster renewables - a series of non-binding commitments put forward by participating countries and businesses.

While Bonn set the stage, the US State Department says this week's gathering "heralds a maturing phase in which scaling-up of renewable energy deployment is the challenge."

The Intergovernmental Panel on Climate Change warned in a series of reports last year that governments have about seven years to begin reversing the trend of rising greenhouse-gas emissions, which are blamed for global warming. Many countries are also attracted to renewable energies by the prospect of becoming "energy independent" through homegrown alternatives.

Investment in alternative energy has seen a massive uptick over the last two years. About 71 billion dollars were invested in new renewable capacity in 2007 worldwide, compared to 40 billion dollars in 2005, according to a report by the Renewable Energy Network for the 21st Century, which was created in 2004 to follow up on the Bonn conference's commitments.

US President George W Bush will address the conference Wednesday, and ministers hope to come up with an updated action plan by Thursday, complete with a new set of national pledges.

So far, those pledges have been hard to come by - only Denmark has unveiled a more robust set of clean-energy targets - and organizers are considering a one-month delay in the plan's release to encourage more participants to come forward.

Environmental groups are holding out little hope for concrete results while the Bush administration remains in power. Chris Miller, leader of Greenpeace's US global-warming campaign, said cautioned against expectations of any "meaningful outcomes, given that the host has been at best not helpful" in promoting action against climate change.

It is no surprise that conference organizers "have not made their objectives clear," he said.

US officials say the Washington conference will both be a showcase of progress in renewable-energy technology and a chance for governments to renew their commitments to developing renewables and cutting back on the fossil fuels that produce climate-changing carbon emissions.

The most important part of the conference may not be the ministers' gathering at all. On the sidelines of the government meeting will be a business conference and trade show for companies from around the world to forge connections and promote their own innovations in the field.

"They are kind of the new and innovative and creative infusion in what otherwise could have been a traditional, boring energy conference," said Athena Ballesteros, Asian climate campaigner for Greenpeace International.

Automaker Volvo Group on Wednesday plans to demonstrate a renewable-fuel truck that has no carbon-dioxide emissions, as part of more than 75 side events hosted by businesses and environmental and energy groups.

London-based oil company BP Inc, which pours a higher percentage of its budget into renewables than any of its major competitors - though still only about 1 per cent of capital expenditure - plans to host debates with other business leaders and hold its own side event. BP chief executive Tony Hayward will be the first business leader to address the gathering.

"This (conference) provides just a fantastic opportunity to bring different sectors together," said BP spokeswoman Sarah Howell.

Subscribe to Trend in Google News! Subscribe
Russia’s new daily coronavirus cases below 32,000 for first time since October 14
Russia’s new daily coronavirus cases below 32,000 for first time since October 14
Bodies of 13 miners discovered at site of Kuzbass mine tragedy
Bodies of 13 miners discovered at site of Kuzbass mine tragedy
EAEU countries to reduce carbon emissions from rail transport
EAEU countries to reduce carbon emissions from rail transport
Loading Bars
Azerbaijan’s Central Bank talks dev’t strategy for securities market until 2023
Pfizer Shot Provides Partial Omicron Shield in Early Study
Australia joins diplomatic boycott of Beijing Winter Games
704 new COVID-19 cases reported in Kazakhstan
France reports record daily COVID-19 count
U.S. Senate backs $650 million missile sale to Saudi Arabia
Mandatory vaccination should be a last resort, says WHO Europe chief
Bolsonaro dismisses vaccination requirement for entry into Brazil
Israel announces completion of high-tech barrier around Gaza
Northern Ireland reports first Omicron cases
Police officer killed in NW Pakistan's firing
Sweden to reintroduce many COVID-19 measures as cases rise
Armenia has no choice but to open Zangazur corridor - experts
Turkey, Qatar strengthen bilateral ties with 15 new deals
Georgian parliamentary delegation visits Washington
Chinese company plans to build a technopark and solar power plant in Uzbekistan
WHO donates 260k packs of intravenous solutions to Iran
Cost of cargo transported via trains up in Azerbaijan
International Court of Justice grants Azerbaijan's request for temporary measures against Armenia
Western media shows neutral approach to Azerbaijan’s Zangazur corridor - Head of Trend News Agency’s Foreign Projects Directorate
Azerbaijan donates 100,000 doses of Sinovac vaccine against COVID-19 to Burkina Faso (PHOTO)
Information spread in Armenian media about killing of illegal militant on territory of Azerbaijan is baseless – MoD
Azerbaijani MFA comments on statement of Armenian foreign ministry
International Court of Justice urges Armenia to take urgent measures against groups and individuals making violent calls on ethnic grounds
International Court of Justice refused to secure Armenia's claim for immediate return of so-called POWs
Azerbaijan completes over half of construction of Barda-Aghdam highway
Azerbaijan building new high-speed road in Shusha city
Azerbaijan-Iran plan to build new bridge to increase traffic
Iran Securities and Exchange Organization focusing on strengthening Capital Market Stabilization Fund
Iran looks to expand agricultural ties with Romania
EIB, EBRD touch on Georgia’s economic growth
Price indexes of industrial, trade sectors at Uzbek stock exchange fall
Georgia shortens terms of COVID-19 booster vaccination
Azerbaijan shares data on 10M2021 oil exports to Vietnam
Uzbekistan shares stats on export of textile products for 10M2021
Kazakhstan's KMG talks project of new gas processing plant in Mangistau
Iran's Bahar Azadi gold coin price increases
Azerbaijan sees decrease in import of vehicles, spare parts over 10M2021
Volume of loaded/unloaded cargo in Iran’s Qeshm port up
Value of Azerbaijan's export to Turkmenistan up for 10M2021
Azerbaijan’s energy ministry opens tender to buy technical support services
Azerbaijan-Iran to take steps to increase trade turnover – Iranian ambassador
Shootout occurs on border between Azerbaijan and Iran - offender neutralized
Baku Int'l Sea Trade Port reveals details of dev’t strategy until 2035
First harvest gathered in mushroom greenhouse in Turkmenistan’s Mary region
Azerbaijan-Iran implementing agreements on joint cooperation – ambassador
Germany's next finance minister stresses price stability
SOFAZ shares estimates of budget revenues for 2022
Iran opens office for cargo barter with Pakistan
Number of legal entities restoring activity in Azerbaijan slightly increases in 11M2021
President Ilham Aliyev receives President for Exploration and Production of TotalEnergies (VIDEO)
Indian embassy in Baku holds webinar on electronic and computer hardware/software products (PHOTO)
Sport in Azerbaijan - integral part of state policy, deputy minister says
Bank of Israel bought $4 bln of FX in Nov, hits $34 bln in 2021
India's Rajnath Singh attends maiden 2+2 Dialogue with Russia
Less urgent need to rebuild stocks to weigh on coal demand
Omicron poses a major risk to global oil demand
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 1,530 more COVID-19 cases, 1,864 recoveries
Azerbaijan, Russia’s Astrakhan sign action program to develop co-op (PHOTO)
Georgia shares data on cigarettes turnover in 10M2021
President Ilham Aliyev signs order appointing new chairman of State Insurance Commerce Company
Georgia’s imports of fuel and lubricants from Kazakhstan plummet
EU health bodies recommend mix-and-match of COVID-19 vaccines
Georgian apple exports on rise
Number of taxpayers increases in Azerbaijan over 11M2021
Kazakhstan increases volume of production of crude oil and oil products
Kazakhstan shares data on coal production
Turkmenistan becomes top oil exporter to Georgia
Armenia should fulfill requirements of documents signed after Second Karabakh War – Turkish official
Google Pay begins operating in Israel
Volume of electricity production in Uzbekistan for 10M2021 unveiled
Azerbaijan records growth in cost of air cargo transport for 10M2021
Iran reveals COVID-19 data for December 7
Central Bank of Azerbaijan reveals amount of foreign currency sold via auction
Non-oil exports in Azerbaijan to reach record high – minister
Opening of Azerbaijan’s Zangazur corridor may reduce transportation time from China to Europe
Azerbaijan to auction several mineral deposits
Epsilon obtains industrial gas inflow from new well at field in Uzbekistan
bp to develop best barrels, make portfolio higher value, says CEO
Azerbaijani State Tourism Agency talks about prices for air tickets (Exclusive)
Iran’s IMPASCO aims to transfer shares of some mining complexes to private sector
bp going to invest 10 times more in low carbon by 2030 - Bernard Looney
What does gas swap deal between Azerbaijan, Turkmenistan and Iran promise?
Baku Stock Exchange talks priorities in trade turnover until 2023
Turkey, Iran trade turnover grows in October 2021
Georgia shares top importers of its hazelnuts
bp achieves increase in productivity in Azerbaijan with new agile organizational structure
Russia’s new daily coronavirus cases below 32,000 for first time since October 14
Iran pins big hopes on gas swap contract, aims for European exports in near future, says ambassador (Exclusive)
Turkmen agriculture ministry opens tender for purchase of veterinary vaccines
Iran eyes increase in flights via Rasht International Airport
Kazakh oilfield construction company opens tender to buy pipes
Kazakhstan eyes diversifying trade flows with ECO countries
Azerbaijan’s Baku Int’l Sea Trade Port expects increase in flow of goods
Georgia’s spice exports to Central Asia down
Uzbekistan reveals volume of exports and imports for 10M2021
Volume of foreign trade turnover increases in Uzbekistan
Kazakhstan sees multifold decrease in trade with South Korea
Eurostat discloses Azerbaijan’s petroleum exports to Italy
All news