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Published:July 8th, 2008 07:15 EST
Greenhouse Agreement at G8

Greenhouse Agreement at G8

By SOP newswire


Leaders of the world`s eight major industrialized nations have set a goal of cutting worldwide emissions of greenhouse gases in half by 2050.

Japanese Prime Minister Yasuo Fukuda, who is hosting the Group of Eight summit at a resort on the northern island of Hokkaido, announced the deal Tuesday.  Mr. Fukuda says the accord allows each nation to set their own "aggressive" midterm goals towards reducing greenhouse gas emissions.

European Commission President Jose Manuel Barroso said the agreement keeps negotiations for a United Nations-led global climate deal by December 2009 "on track."

The Bush administration is also praising the deal. The White House`s top environmental advisor, Jim Connaughton, says it aligns with U.S. President George Bush`s demand that growing economies such as India and China agree to take part in the reductions.

The G8 leaders also issued a statement expressing their "strong concern" about the threat to the world economy from rising oil and food prices.

The leaders, from Britain, France, Italy, Russia, Canada, Germany, the United States and host Japan, are urging increased oil production, and have proposed hosting a forum to focus on energy efficiency and new technologies.

Leaders from China, India and other countries that are not members of the G8 are also scheduled to meet with the leaders Tuesday.

The three-day summit at the Toyako resort ends Wednesday with a larger gathering that includes Australia, Brazil, China, India, Indonesia, Mexico, South Korea and South Africa.

Some information for this report was provided by AFP, AP and Reuters.