China to reduce its energy intensity by 17-18 percent every five years.
May 6, 2010 – Chinese Premier Wen Jiabao
“We can never break our pledge, stagger our resolution, or weaken our efforts, no matter how difficult it is.”
Wen called for stricter control over high-energy-consuming and high-polluting sectors and for more action to reduce the use of outdated capacity as well as in curbing new projects in industries with overcapacity.
“Local officials and executives of enterprises will be taken to task if their specific energy-efficiency targets are not met.”
The statement also said that China would draft regulations to promote ecological compensation, a market-based mechanism to balance economic development with nature conservation.
Under the mechanism, regions and industries that benefit from the exploitation of natural resources should pay for the damage they cause to the environment and ecosystem.
“The regulations are expected to work out a clear set of methodologies for ecological compensation to answer the question of who should pay how much for what.”
If ‘ecological compensation’ catches on worldwide, gee whiz, as Raj Patel points out, the true price of a hamburger could leap to $200.