Eaton, AECOM, IBM, Beiqi Foton Motor, lithium ion battery manufacturer MGL, and electric motor provider Broad Ocean, have formed the New Energy Sustainable Transportation International Alliance (NESTIA) to accelerate the deployment of EVs in cities across China. NESTIA, a part of a global alliance between Eaton, AECOM and IBM to advance the adoption of EVs and plug-in vehicles across public and private transportation sectors in key markets worldwide, will design and deploy electric buses utilizing components from Eaton, Broad Ocean and MGL as its first project.

"The rapid development of the hydropower industry is of great significance to optimizing China's energy structure and reducing carbon emissions," said Sun Yucai, executive vice chairman of the China Electricity Council.

"The rapid development of the hydropower industry is of great significance to optimizing China's energy structure and reducing carbon emissions," Sun Yucai, executive vice chairman of the China Electricity Council, said at the ceremony. In an interview iwth Sina.com earlier this week, Zhang Goubao, director at National Energy Administration said China would expand its installed hydropower capacity to 300 million kilowatts by 2015 in an effort to cut carbon emissions.

The Asian Development Bank (ADB) plans to issue its inaugural Clean Energy Bond to support its clean energy projects in Asia and the Pacific. The Clean Energy Bond is expected to have four tranches, one each denominated in Australian dollars and Turkish lira and two tranches in Brazilian real. It will carry tenors of between 4 and 7 years and will be issued in September. ADB will provide assistance to clean energy projects in an amount at least equal to the amount raised by the Clean Energy Bond.The issuance, targeted at Japanese retail investors, will be arranged through HSBCSecurities (Japan) Ltd. and will be distributed nationwide by more than 20 securities firms.

The planned bond issue follows the successful sale in April of ADB’s inaugural Water Bond, which is supporting the ADB’s work in the water sector in Asia and the Pacific.Rapid economic expansion in the region has put immense pressure on resources and the environment. The use of coal and oil and other carbon-based fossil resources to meet the region’s growing energy needs has added to the release of greenhouse gases that contribute to global climate change.

China is planning to utilize more market-based means and will begin full scale domestic carbon trading programs as a part of the 12th Five-Year Plan, this in order help meet its 2020 carbon intensity target.The National Development and Reform Commission (NDRC), China's top economic planning body, said on Wednesday that it has selected a series of pilot carbon cities as a way of addressing the nation's carbon emissions issues.

"Setting up carbon exchange centers is the way we must go (in the future)," Xie Zhenhua, vice chairman of the commission added on Wednesday. The NDRC has selected five provinces, Guangdong, Hubei, Liaoning, Shaanxi and Yunnan, as well as eight cities, including Tianjin, Chongqing, Hangzhou, Xiamen, Shenzhen, Guiyang, Nanchang and Baoding, as the first batch of areas to develop green economies. Each area is required to draft its own plan to reduce carbon emissions and develop a green economy for the nation's 12th Five Year Plan (2011-2015).