China to become 'global leader in green tech'

"For China, I am absolutely convinced that it will become the world leader in green tech," Tim Flannery, chairman of the Copenhagen Climate Council, told a business forum on the sidelines of an Asia-Pacific summit.

"I think that China is in a position where, as manufacturer to the world, if it goes down that green energy route, it will open up enormous new markets," he said.

The Copenhagen Climate Council is a global collaboration between businesses and scientists which promotes solutions to climate change that are acceptable to governments and companies alike.

In addition to improving the environment, Flannery said that investing in green energy would be profitable for any country.

"The opportunities for businesses in addressing climate change are simply enormous," he said, adding, "Whoever does reform developing renewable energy... will reap enormous benefits."

Flannery, regarded as one of the world's most influential explorers and conservationists, said China's green energy industry would become "critically important" for domestic security.

"It will also secure its own internal stability, because the environment problems in China today threaten to overwhelm parts of the country," he said.

Dorjee Sun, chief executive officer of the Carbon Credit Trading Group, said the "Green Wall of China" project could boost the country's chances to become the top green technology player.

The project could spur massive reforestation, energy efficiency and renewable energy development in China, he said.

Carbon credits are derived from the amount of carbon dioxide emissions prevented through environmentally-friendly practices, such as the preservation of forests.

Sun's group serves as a broker between landowners and businesses that want to invest in sustainable development.

The Green Wall of China is the communist state's effort to hold back creeping desertification from the Gobi Desert by planting forest strips along the borders. It will stretch 2,800 miles when completed in 2074.

China in May announced it was planning a stimulus package worth 440 billion dollars to expand its renewable energy use as it aims to rely more on cleaner ways to power its growth.

The country has also set a goal to cut energy consumption per unit of gross domestic product by 20 percent, and pollution by 10 percent, by 2010 from 2005 levels.

(c) 2009 AFP