Washington, D.C., December 1st, 2009 – Marking a first-of-its kind innovative initiative and significant efforts by the Government of China, for systemic cooperation between China and the U.S. on sustainable low carbon development, the National Center For Sustainable Development (“NCSD”) today announced a groundbreaking commitment to launch the China-U.S. Low Carbon Development Cooperation Program – exemplifying its expanded mission statement and its next generation of innovative and sustainable low carbon development initiatives.
As a first step in demonstrating the commitment of both parties to the Program, on November 10, 2009 the Board of Trustees of the NCSD welcomed Mr. Chen Huan, Deputy Director General of the China CDM Fund Management Center, Ministry of Finance (MOF) of China (“CDMF”) and Dr. Wen Gang, Deputy Director of Research and Development Department of the CDMF, to join in guiding and managing the Program. Their involvement shows the close cooperation between the CDMF and the NCSD.
The launch and implementation of the Program is in keeping with the NCSD’s heritage and mission as a U.S. not-for-profit organization in fostering sustainable development through the promotion of pollution abatement demonstration projects that lead to recognition of methods and practices that can be adopted as a matter of public and commercial practice and which will lead to reductions in the emissions of carbon dioxide and other greenhouse gases.
The objectives to be demonstrated are to improve communities globally with examples of sustainable low carbon development through the sponsorship of relevant comparative studies on policy, demonstration and scale-up of investment projects with market-based mechanisms and financial instruments, the purpose of which is to promote economic and low carbon development by financing projects in the U.S. and China that avoid, reduce, or sequester anthropogenic emissions of greenhouse gases and that employ existing, improved and new technologies in service in the marketplace related to energy savings, energy efficiency, renewable energy and other kinds of climate-friendly actions.
One of the first public-private initiatives of its type and scope to be undertaken between China and the U.S. ever, and in particular to address the daunting challenges faced by all in the new and unfolding paradigms being brought on by global climate change, this commitment will accelerate catalytic change in a host of necessary, innovative and sustainable measures at the policy, regulatory and business and investment levels, and create significant positive impact for the creation of a clear road map to foster technology-share and encourage investment for the business and investment communities in both countries. As a cornerstone to the announcement, the organization is preparing to launch the first-of-its-kind series of studies on comparative China-U.S. policies, as well as comparative financial market mechanisms and instruments to examine the overall cost effectiveness of meeting the enormous investment demand that will be required to approach and achieve sustainable investment in and progress for low carbon development.
“A collaboration between the world’s big producers of carbon emissions, China and the U.S., will create an environment where low carbon, clean-energy technologies and investments can thrive,” commented Damian Omar Valdez, President of Evolution Capital Management, Inc., one of the founding partners of the China-U.S. Low Carbon Development Cooperation Program in association with the CDMF, and a Trustee of the NCSD. “While the Chinese and US governments, along with private investors, are pursuing all sorts of low carbon, clean-energy technologies, and financial market mechanisms, they cannot achieve separately what they could jointly…and whether collaborating formally or informally, China and the U.S. working as a group, dedicated to climate change would boost the development and use of low carbon, clean-energy technologies and innovative approaches to green finance, and deliver benefits that would accrue to all nations,” added Valdez.
“The time for this work has never been more urgent,” said Mitchell Stanley, President of the NCSD. “The NCSD works at the intersection of today’s global climate change crisis, our nations’ economic and job related challenges and the rising tide of environmental responsibility. Not only can we succeed with this mission, we must succeed. For governments, business, investors and individuals around the world, now is the time for thoughtful and bold solutions and real progress.”
“The foundation of our collaboration with the Chinese institutions was laid more than 8 years ago. In recent years we began to focus on the emerging market for renewable energy and environment finance in China…and came to the surface of the global stage. The Chinese government established the China CDM Fund. We realize it is a very good partner to work with” said Eric Fang, CEO of Sinoaccess Investments, Inc. another of the founding partners of the China-U.S. Low Carbon Development Cooperation Program in association with the CDMF, and a Trustee of the NCSD. “We approached the CDMF very early on in their development and found that we shared a similar vision,” added Fang.
“We now have the platform through the NCSD and its cooperation with the CDMF to demonstrate and we are now positioned to take the initiative to the next level. By fostering substantive bi-lateral cooperation between China and the U.S., and bringing more innovative and responsive financial market mechanisms and instruments to our partners in China, we are pushing forward systemic change in environmental and carbon finance in that country, and establishing a sustainable foundation for technology sharing and investment for our country,” added Valdez.
“China CDM Fund was created by Government of China and will act as an innovative financial and action mechanism for addressing climate change. It is an unprecedented case in the world and shows great importance to international cooperation on climate change. Working with global partners, the China CDM Fund Management Center will promote Chinese policies and actions on climate change in the world, and meanwhile, introduce advanced development concepts, approaches and technologies into China for its better and faster development. Jointly establishing the China-U.S. Low Carbon Development Cooperation Program will serve this purpose, said Mr. Chen Huan, Deputy Director General, CDMF.
“To guide the China-U.S. Low Carbon Development Cooperation Program making progress in the agreed direction, joint management of the Program is necessary.” said Dr. Wen Gang, Deputy Director of Research and Development Department of CDMF.
To ensure a lasting, scalable future for this trailblazing initiative, the NCSD is initially developing three main demonstration projects that will set the foundation for the China-U.S. Low Carbon Development Cooperation Program. These include a series of studies on comparative China-U.S. policies, as well as comparative financial market mechanisms and instruments, evaluation for the design and adoption of a national low carbon sustainability protocol for project performance audits, as well as a low carbon sustainability asset management and policy proposal for both countries, and the sponsoring of a proposed China U.S. High-level Forum on Low Carbon Development, to be hosted in Beijing, China in late 2010. This unique combination of cutting-edge research, broad-based knowledge sharing and on-the-ground demonstration investment programs will set a new paradigm and standard for NGOs involved in global climate change and low carbon development.