Today in L’Aquila, Italy, the Group of 8 (G8) Summit failed to pass unanimously a climate bill which would have mandated halving of global CO2 emissions by 2050 as part of the Group’s larger economic-stabilization plan. The Group – consisting of the United States, Japan, Germany, France, Great Britain, Italy, Canada, and Russia – believed passage of the bill would likely have broken the deadlock over sharing of the burden of cutting greenhouse gasses. The bill’s passage also would have laid the groundwork for an expected future U.N. climate pact in Copenhagen in December.
Today in L’Aquila, Italy, the Group of 8 (G8) Summit failed to pass unanimously a climate bill which would have mandated halving of global CO2 emissions by 2050 as part of the Group’s larger economic-stabilization plan. The Group – consisting of the United States, Japan, Germany, France, Great Britain, Italy, Canada, and Russia – believed passage of the bill would likely have broken the deadlock over sharing of the burden of cutting greenhouse gasses. The bill’s passage also would have laid the groundwork for an expected future U.N. climate pact in Copenhagen in December.
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The Group encountered resistance to the bill primarily from leaders of India and China, who-- like many developing countries--desired more financial support from richer countries before agreeing to the emissions goal.
In compromise, the Group agreed to cut emissions by 80 percent and limit global warming to 2 degrees Celsius per year.
Article continues: http://www.triplepundit.com/pages/2-g8-urges-economic-stability-measures-f.php
