The computer software giants plan to do so by making the world‘s computers and servers more efficient.

Known as The Climate Savers Computing Initiative, the coalition which also includes Microsoft Corp., Dell Inc., Hewlett Packard Co., IBM, Lenovo Group Ltd., intends to increase efficiency of computing gear over the next four years and have set ambitious targets to achieve the same.

The companies aim to cut down on electricity consumption by PCs to half by 2010 using existing power-saving technologies. Presently, the average PC wastes about half of the power it consumes. According to estimates, the average server wastes about one-third of total energy consumption.

More efficient computing could bring down electricity consumption currently being wasted as heat. Large server centers infact require more power for air conditioning.

"Let‘s create a more efficient IT industry by driving up the efficiency of computers," said Intel‘s Digital Enterprise Group senior vice president Pat Gelsinger. "We think we can have huge savings in terms of carbon footprint and energy costs."

According to officials, the initiative is expected to save more than $5.5 billion in electricity costs by 2010 and reduce greenhouse gas emissions that contribute to climate change by 54 million tonnes annually.

Computer prices could get hiked by about $20 and server prices by $30 but they would be equipped with energy efficient technology. Consumers are expected to recoup the costs through lower electricity bills and rebates from utilities.