The Ministry of Finance said that Beijing plans to invest RMB170 billion (US$27 billion) this year on projects to promote energy conservation, reduce emissions and boost renewable energy, Reuters reported. A statement on the ministry’s website pledged to promote energy-saving products and low-emission power sources like solar and wind energy. The International Energy Agency said separately on Thursday that carbon dioxide emissions from China, the world’s largest emitter, rose 9.3% last year, more than offsetting declines in the US and Europe, and helping to push the total global emissions figure up by 3.2%. However, the IEA also noted that China’s carbon intensity, or emissions per unit of GDP, fell by around 15% in 2011 from 2005 levels. Negotiators from 180 countries are currently working on a new global climate change pact in Bonn, Germany.
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