ID :
9993
Sat, 06/14/2008 - 19:56
Auther :
Shortlink :
https://oananews.org//node/9993
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G-8 pledges to assist developing nations in tackling climate change
OSAKA, June 14 (Kyodo) - Finance ministers from the Group of Eight major nations pledged Saturday to help developing countries tackle climate change by providing financial and technological support.
''Climate change is one of the most urgent issues for the world to tackle,'' the G-8 financial chiefs said in an action plan on climate change following their two-day meeting in Osaka.
''We are convinced that urgent and concerted action is needed and accept our responsibility to show leadership in tackling climate change,'' the ministers said.
The G-8 finance ministers said, ''Developing countries will both influence the scale of climate change and will be affected by it'' and ''the poorest countries tend to have the least resilience to climate variability and change.''
The financial chiefs from Britain, Canada, France, Germany, Italy, Japan, Russia and the United States agreed that private sector engagement is essential in addressing climate change, including investment by industries in clean technology, research and development, and improved energy efficiency.
In a separate statement released after the Osaka gathering, they also said ''substantial investment will be needed'' to provide developing countries with access to clean energy and prevent deforestation.
But the public sector should also encourage private sector engagement by ensuring stable and consistent legal and regulatory frameworks, the G-8 ministers said.
The G-8 finance ministers also stressed the importance of market mechanisms in tackling global warming.
''Market mechanisms, including emission trading, tax incentives,
performance-based regulation, fees or taxes, and consumer labeling are key to addressing climate change, as well as enhancing energy security and efficiency,'' the action plan said.
The ministers also said they ''welcome and support'' the launch of the Climate Investment Funds aimed at helping developing countries fight global warming.
Setting up the multilateral funds, to be administered by the World Bank, has been proposed by Japan, Britain and the United States.
Climate change will likely be one of the key agenda items at the G-8 summit meeting to be held in the Lake Toya hot-spring resort area in Hokkaido on July
7-9.
''Climate change is one of the most urgent issues for the world to tackle,'' the G-8 financial chiefs said in an action plan on climate change following their two-day meeting in Osaka.
''We are convinced that urgent and concerted action is needed and accept our responsibility to show leadership in tackling climate change,'' the ministers said.
The G-8 finance ministers said, ''Developing countries will both influence the scale of climate change and will be affected by it'' and ''the poorest countries tend to have the least resilience to climate variability and change.''
The financial chiefs from Britain, Canada, France, Germany, Italy, Japan, Russia and the United States agreed that private sector engagement is essential in addressing climate change, including investment by industries in clean technology, research and development, and improved energy efficiency.
In a separate statement released after the Osaka gathering, they also said ''substantial investment will be needed'' to provide developing countries with access to clean energy and prevent deforestation.
But the public sector should also encourage private sector engagement by ensuring stable and consistent legal and regulatory frameworks, the G-8 ministers said.
The G-8 finance ministers also stressed the importance of market mechanisms in tackling global warming.
''Market mechanisms, including emission trading, tax incentives,
performance-based regulation, fees or taxes, and consumer labeling are key to addressing climate change, as well as enhancing energy security and efficiency,'' the action plan said.
The ministers also said they ''welcome and support'' the launch of the Climate Investment Funds aimed at helping developing countries fight global warming.
Setting up the multilateral funds, to be administered by the World Bank, has been proposed by Japan, Britain and the United States.
Climate change will likely be one of the key agenda items at the G-8 summit meeting to be held in the Lake Toya hot-spring resort area in Hokkaido on July
7-9.
