Asian Leaders Sign Energy & Climate Agreement - No Targets Or Timetables - Reuters

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CEBU, Philippines (Reuters) - Asian leaders signed an energy security pact on Monday that seeks to reduce oil dependency and greenhouse gas emissions in some of the most polluted countries on the planet, but offers no concrete targets.

Southeast Asian leaders along with the heads of China, Japan, South Korea, India, Australia and New Zealand held their second East Asia summit in a more constructive atmosphere than last year as Beijing and Tokyo used the meeting to further mend ties.

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While Northeast Asian diplomacy was a feature of the summit, the meeting's legacy is an energy security pact that seeks to reduce the region's dependence on costly crude oil and help stave off climate change.

Unlike the European Union, however, which last week unveiled ambitious energy proposals to cut greenhouse gas emissions by at least 20 percent, the leaders offered no concrete targets. The pact calls for encouraging the use of biofuels, hydropower, or nuclear power to reduce dependence on conventional fuels and seeks private sector investment in energy infrastructure.

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