25 May 2010: The Strategic Track under the framework of the Second Round of the US-China Strategic and Economic Dialogue addressed, inter alia, energy security and climate change, and produced 26 specific outcomes.
One of the outcomes is the issuance of a Joint Statement on Energy Security Cooperation, according to which the two countries agree to strengthen cooperation in stabilizing international energy markets, and ensuring diversified energy supply as well as a rational and efficient use of energy. In the Statement, they reaffirm the G-20 commitment to rationalize and phase-out over the medium term inefficient fossil fuel subsidies that encourage wasteful consumption, stimulate investment in clean energy, renewables and energy efficiency, and provide financial and technical support for such projects in developing countries. Based on the principle of “joint research, risk sharing, and enjoying achievements together,” they commit to continue to conduct pragmatic cooperation in joint investment, research and development, production and promotion in the areas of clean coal, safety and operation of nuclear power (advanced nuclear energy), renewable energy, smart grid, shale gas, advanced biofuels and electric vehicles.
In the Joint Statement, the US and China further recognize that energy conservation and increasing energy efficiency are essential to achieve sustainable development and can greatly contribute to solving the challenges of energy security, climate change and environmental protection. They commit to promote cooperation in areas of auditing and benchmarking of industrial energy efficiency, construction specifications, signs and evaluation system, test and signs of end-use energy products, personnel training, demo projects, and promotion of trade and investment.
Another outcome of the Strategic Track is the welcoming by the two sides of the progress made in implementing the Ten-Year Framework on Energy and Environment Cooperation, and underscoring that they are to continue their efforts to carry out specific cooperation in six priority areas: clean water, clean air, clean and efficient electricity, clean and efficient transportation, nature reserves and wetlands protection, and energy efficiency.
The two countries also agree to hold: the first US-China Renewable Energy Forum and Advanced Biofuels Forum on 26-27 May 2010; the Electric Vehicles Forum; the Fifth US-China Energy Policy Dialogue; and the Tenth US-China Oil and Gas Industry Forum in the second half of 2010.
The final outcome of the Strategic Track is the reaffirmation by the two countries of their support for the Copenhagen Accord and of their commitment to the November 2009 Memorandum of Cooperation to Build Capacity to Address Climate Change. They also express their intend to meet within a month to begin implementation. [US Press Release] [Joint Statement]