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Leading economies call for accelerating transition to global clean energy economy
SEOUL, May 13 (Yonhap) -- Policymakers from the world's leading economies that account for roughly 70 percent of all energy consumption on Tuesday called for accelerating the transition to a global clean energy economy that can help deal with climate change and energy security issues.
In a press conference held at the conclusion of the three-day 5th Clean Energy Ministerial (CEM) meeting in Seoul, Yoon Sang-jick, South Korea's minister of trade, industry and energy, said clean energy development depends of three key pillars based on finding good technology, investment and market creation.
Yoon, who hosted the gathering, said for such pillars to contribute to clean energy use, trust building among interested parties is essential.
"By building trust, market actors can reduce risks associated with developing new technologies," he said.
The minister also noted that participants of the latest CEM meeting agreed to discuss in detail issues raised by Seoul on the need to deal with different certifications, diverse regulations and government policies that favor national companies over foreign firms in the clean energy development field.
"After discussing the matter for one year, CEM will decide whether or not to adopt the issues as a formal initiative when it meets again in Mexico City for the sixth round of ministerial talks," he said.
"The focus on clean energy finance and close collaboration with the private sector is part of the broader theme where if we are going to have the kind of energy transformation that we want.