Bloomberg BNA -- The Global Reporting Initiative, the organization that develops the most widely used sustainability reporting framework in the world, released an updated version of the guidelines May 22.
Blackouts have occurred in some Chinese provinces as local governments try to meet energy efficiency targets by the end of the year, according to the National Reform and Development Commission of China .
China must meet its energy intensity reduction target for the five years ending 2010, Xie Zhenhua, vice chairman of the National Development and Reform Commission, said in a statement on the government agency’s website today. The Chinese government will face “enormous pressure” at the Mexico climate talks at the end of this year if the goal isn’t achieved, Xie said in the statement, without elaborating.
Asia-Pacific nations pledged to establish a list of so-called green goods that will be subject to a maximum 5 percent tariff and agreed to reduce energy intensity to help overcome economic and environmental challenges in the region.
For much of 2006 and into 2007, Environmental Defense Fund had been battling to stop TXU Corp., Texas’s largest power producer, from building 11 coal-fired plants. The barrage of lawsuits, town-hall meetings and online community groups was also becoming a major headache for KKR & Co. , TPG Capital and Goldman Sachs Group Inc.’s private-equity arm, which were planning the world’s biggest leveraged buyout of the utility company.
China, seeking to cut energy intensity by 20 percent, said Aluminum Corp. of China Ltd. , Hebei Iron & Steel Group and more than 2,000 companies must shut outdated plants by September or lose financial support.