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G8 Report Transcription (Page 3)

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emerging economies could take several forms, such as sustainable development policies and measures, an improved and strengthened clean development mechanism, the setting up of plans for the sectors that generate most pollution so as to reduce their greenhouse gas emissions compared with a business as usual scenario.

We acknowledge that the UN climate process is the appropriate forum for negotiating future global action on climate change. We are committed to moving forward in that forum and call on all parties to actively and constructively participate in the UN Climate Change Conference in Indonesia in December 2007 with a view to achieving a comprehensive post 2012-agreement (post Kyoto-agreement) that should include all major emitters.

To address the urgent challenge of climate change, it is vital that major economies that use the most energy and generate the majority of greenhouse gas emissions agree on a detailed contribution for a new global framework by the end of 2008 which would contribute to a global agreement under the UNFCCC by 2009.

We therefore reiterate the need to engage major emitting economies on how best to address the challenge of climate change. We embrace efforts to work with these countries on long term strategies. To this end, our representatives have already met with the representatives of Brazil, China, India, Mexico and South Africa in Berlin on 4 May 2007. We will continue to meet with high representatives of these and other major energy consuming and greenhouse gas emitting countries to consider the necessary components for successfully combating climate change. We welcome the offer of the United States to host such a meeting later this year. This major emitters' process should include, inter alia, national, regional and international policies, targets and plans, in line with national circumstances, an ambitious work program within the UNFCCC, and the development and deployment of climate-friendly technology. This dialogue will support the UN climate process and report back to the UNFCCC.

Technology

Technology is a key to mastering climate change as well as enhancing energy security. We have urgently to develop, deploy and foster the use of sustainable, less carbon intensive, clean energy and climate-friendly technologies in all areas of energy production and use. We have to develop and create supportive market conditions for accelerating commercialisation of new less carbon intensive, clean-energy and climate-friendly technologies. Furthermore, to ensure sustainable investment decisions worldwide, we need an expanded approach to collaboratively accelerate the widespread adoption of clean-energy and climate-friendly technologies in emerging and developing economies. Therefore, we will

• ·stimulate global development, commercialisation, deployment and access to technologies,
• ·promote major emerging and developing economies' participation in international technology partnerships and collaborations,
• ·scale up national, regional and international research and innovation activities and
• ·undertake strategic planning and develop technology roadmaps to strengthen the role of advanced technology in addressing climate change.

Market Mechanisms

Private sector investment is and will remain the primary means of technology deployment and diffusion. Strong economies and a wide range of policy instruments are required to develop, deploy and foster climate-friendly technologies. Market mechanisms, such as emissions trading within and between countries, tax incentives, performance-based regulation, fees or taxes, and consumer labeling can provide pricing signals and have the potential to deliver economic incentives to the private sector. Fostering the use of clean technologies, setting up emissions-trading systems and, as many of us are doing, linking them are complementary and mutually reinforcing approaches. Therefore, we will share experience on the effectiveness of the different policy instruments in order to (continued on next page)

Photo Credit: German Federal Government/Gebhardt