G-8 eyes civil nuke power plan to curb global warming: draft

TOKYO, July 1 Kyodo - Group of Eight leaders will agree at their July 7-9 summit in Japan on a new initiative to expand the use of civil nuclear power to curb global warming with three principles of ensuring nonproliferation, safety and nuclear security,
according to a draft of a post-summit statement.

The G-8 leaders will also agree to set national goals and formulate action
plans to improve energy efficiency and promote clean energy such as solar
power, both followed by appropriate monitoring, says the draft statement, a
copy of which was obtained Monday by Kyodo News.

The undated draft has no reference to last year's proposal by Japan to halve
global greenhouse gas emissions by 2050, only saying the G-8 leaders
''reconfirm the significance of the Fourth Assessment Report of the
Intergovernmental Panel on Climate Change as providing the most comprehensive
scientific knowledge.''

The G-8 is considering a plan to invest in research and development of
innovative technologies for the environment, including carbon dioxide capture
and storage, with a G-8 target of at least $10 billion annually, the draft
shows. The amount, however, is in a bracket.

The group's nuclear power initiative comes as surging oil prices prompt
countries to diversify energy sources from fossil fuels on which they have
heavily depended. China, India and Russia are increasing their number of
nuclear power plants, but there are concerns over potential accidents and
diversion of nuclear technologies to military use.

''Recognizing that ensuring safeguards (nuclear nonproliferation), nuclear
safety and nuclear security (3S) forms a sound basis for international
transparency and confidence in the sustainable development of nuclear power, we
agree on a G-8 initiative to assist countries in ensuring 3S,'' the draft says,
calling on China and others to join the initiative.

''We affirm the role of the International Atomic Energy Agency in this
process,'' it says, suggesting that the G-8 will cooperate with the IAEA in
checking nuclear power plants, controlling nuclear materials, preventing
technology leaks and diversion to military use, as well as crafting an
international guideline for the peaceful use of nuclear energy.

The draft shows the G-8 leaders believe that ''enhanced commitments or actions
by all major economies are essential for tackling climate change,'' effectively
urging China, India and other major emerging economies to curb their rapidly
increasing emissions of CO2 and other greenhouse gases blamed for the warming
of the Earth.

Some data show that China has now overtaken the United States as the world's
biggest greenhouse gas emitter.

At stake at the upcoming summit is whether the leaders of Britain, Canada,
France, Germany, Italy, Japan, Russia and the United States will agree to the
2050 emissions reduction target to show their resolve to address climate
change. At last year's summit in Germany, the G-8 agreed to seriously consider
the target.

But the absence of the goal in the draft means that a final decision on the
mid-century target is likely to be left to the leaders when they meet at the
Lake Toya resort area in Hokkaido.

Japan and Europe want to formalize the target, but the United States has been
reluctant about setting such a target without the involvement of China, India
and other emerging economies.

The draft says a Japan-proposed sector-by-sector approach to slashing emissions
is ''a useful tool'' to fight global warming.

''Sectoral approaches are a useful tool to improve energy efficiency and reduce
GHG emissions through dissemination of existing and new technologies in a
manner compatible with economic growth,'' the draft says.

Using energy efficiency in each sector as a yardstick, the Japan-proposed
sectoral approach involves determining potential reduction volumes on an
industry-by-industry, area-by-area basis that would then be tallied for a
quantified national target. Areas include offices, households and
transportation.

The G-8 leaders will give a positive assessment of market-based mechanisms such
as emissions trading and carbon taxes in cutting emissions, saying such
measures ''can provide pricing signals and have the potential to develop and
deploy climate-friendly technologies in the private sector.''

The leaders will welcome the recent establishment of a new energy-saving
framework to curb global warming, called the International Partnership for
Energy Efficiency Cooperation, or IPEEC, and will invite all major economies to
join it, according to the draft.

Moreover, the leaders will welcome the planned launch on Tuesday of a new
multilateral funding scheme to back developing countries' efforts to reduce
emissions and adapt to the effects of climate change.

The Climate Investment Funds, led by Japan, Britain and the United States and
to be administered by the World Bank, are expected to become operational by the
end of the year after winning approval from the bank's board on Tuesday.

A senior U.S. Treasury official has said Japan, Britain and the United States
aim to raise $10 billion for the funds -- consisting of the Clean Technology
Fund and the Strategic Climate Fund -- over the next three years in partnership
with other donors. ==Kyodo