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G8 reaches tentative climate change deal-sources
(Agencies)
Updated: 2008-07-08 10:08 He urged the G8 to send a strong political signal by setting a long-term goal of halving greenhouse gas emissions by 2050, backed by intermediate targets that would set market forces in train to reduce energy consumption. The G8 will set out its positions on climate change, aid to Africa, rising food prices and the global economy in a raft of statements due to be issued later on Tuesday. Japan's Yomiuri newspaper said on Monday that the leaders' communique would highlight downside risks to the world economy and label rising food and oil prices a "serious threat". The higher price of oil, which hit a record high of $145.85 a barrel last week, is taking a particularly heavy toll on the world's poor. A World Bank study issued last week said up to 105 million people could drop below the poverty line due to the leap in food prices, including 30 million in Africa. "How we respond to this double jeopardy of soaring food and oil prices is a test of the global system's commitment to help the most vulnerable," World Bank President Robert Zoellick said. "It is a test we cannot afford to fail," he told reporters. To help cushion the blow, officials said the G8 would unveil a series of measures to help Africa, especially its farmers, and would affirm its commitment to double aid to give $50 billion extra in aid by 2010, with half to go to the world's poorest continent. |
