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FACTBOX-G8 agreement on tackling climate change

07 Jun 2007 15:52:46 GMT
Source: Reuters

June 7 (Reuters) - Leaders of the Group of Eight industrialised nations meeting in Germany have agreed to pursue "substantial" cuts in the greenhouse gases that cause global warming.

Here are the details of what they agreed.

- leaders acknowledged that "resolute and concerted international action" was urgently needed to reduce emissions and increase energy security.

- rises in greenhouse gases must halt and be reversed, the G8 said.

- the leaders agreed to work towards a global framework for a new deal on cutting greenhouse gases by the end of next year, which would be finalised by the United Nations in 2009.

- the group did not commit directly to a target for reducing emissions but in considering a goal in the future it said it would be mindful of the EU, Canada and Japan's target of halving global emissions by 2050. The statement did not make clear what the starting point for the cuts would be, an important point since emissions have increased dramatically in recent years.

- developed economies have to take the lead, the G8 said, but less developed countries must participate. The G8 called on emerging economies to reduce the carbon intensity of their economic development to address the increase in their emissions. The United States has insisted that big, poorer polluters like China and India, who have no obligations under the Kyoto treaty currently, must start to share the burden of emissions cuts.

- the G8 welcomed a U.S. offer to host a meeting this year with major emitters.

- While offering "strong leadership" the group noted different approaches to tackling climate change existed. But it backed the United Nations Climate Change conference in Bali, Indonesia in December and said the U.S. efforts to involve emerging economies would feed into the U.N.-led process of finding a successor to Kyoto. There were concerns that U.S.-led initiatives would undermine United Nations efforts.

- promoting the diversification of energy supplies, increasing energy efficiency, tackling deforestation and setting up emissions-trading systems were all useful means of mitigating climate change, the G8 said.

- the G8 said even with vigorous action climate change would have an impact, especially in developing countries. It offered support for such countries to become more resilient to change.

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Last updated:Thu Jun 7 15:53:54 2007