I. The creation of a World Energy Modernization Fund using the revenues from a tax on international currency transactions or other comparable revenue sources to finance the development and transfer of climate-friendly (renewable, high-efficiency and low-carbon) technologies to developing nations.
II.The elimination of national subsidies for fossil fuels and the provision of subsidies for developing and deploying renewable and highly efficient energy technologies and job retraining for displaced workers in the fossil fuel industries.
III. The adoption of progressively more stringent Fossil Fuel Efficiency and Renewable Content Standards within the U.S. as a complement to the emissions "cap-and-trade" system embodied in the Kyoto Protocol. This strategy could be of use to other nations as well.
IV: The elimination of regulatory barriers which impede competition and support wasteful, inefficient high-carbon technologies in order to create freer competition in energy according to the criteria of cost, efficiency and low-carbon content.
V: The creation of a new agency or the authorization of an existing agency under the Kyoto Protocol to facilitate a rapid transition to climate- friendly (renewable, high-efficiency and low carbon) energy facilities worldwide through transfer of technologies and expertise according to principles of equity, sustainability and competitive energy markets.