June 18, 2007: G8 Leaders Agree to Set New Global Greenhouse Gas Goals
The G8 agreement calls on all parties to actively and constructively participate in the United Nations' Climate Change Conference in Indonesia in December to develop a comprehensive agreement that includes all major greenhouse gas emitters and would take effect after 2012, when the Kyoto Protocol expires. It also calls for all major emitters to agree on a new global framework for greenhouse gas reductions by the end of 2008, which would lead to a global agreement under the United Nations Framework Convention for Climate Change (UNFCCC) by 2009. The plan was welcomed by the executive secretary of the UNFCCC and was endorsed by the Group of Five countries with emerging economies - Brazil, China, India, Mexico, and South Africa.
The agreement acknowledges the important role of clean energy technologies in achieving greenhouse gas reductions and endorses the use of market mechanisms to encourage the development and deployment of these technologies. It also includes an extensive list of international efforts to promote energy efficiency, including the establishment of a "Sustainable Buildings Network" and efforts to encourage energy efficiency in industry, power generation, and transportation.
Publication date: 06/18/2007