World Business Leaders Call For Climate Action At G8 Summit Blahblahblah - AFP

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The heads of more than 80 companies called Friday for the Group of Eight rich nations to set clear mid-term targets to cut greenhouse gas emissions, saying it would help them make business plans. Klaus Schwab, executive chairman of the World Economic Forum which holds an annual gathering of movers and shakers in Davos, Switzerland, presented the recommendations to Japanese Prime Minister Yasuo Fukuda, host of the upcoming summit.

Fukuda has already said he did not expect the July 7-9 G8 summit to set targets for the period immediately after 2012, when obligations under the landmark Kyoto Protocol expire.

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Companies endorsing the recommendations included US aluminium giant Alcoa, British Airways, Deutsche Bank, Anglo-Dutch oil giant Shell, Brazilian energy firm Petrobras and Tokyo Electric Power Co. The United States, butting heads with the Europeans, has opposed setting any definite commitments at the G8 summit for slashing carbon emissions.

Last year's summit of the G8 -- Britain, Canada, France, Germany, Italy, Japan, Russia and the United States -- pledged to "seriously consider" at least halving greenhouse gas emissions by 2050 but there was no firm commitment. Backing one US position, the CEOs said that action on global warming needs to include all major economies including the United States, China and India.

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http://www.terradaily.com/2007/080620111400.t59rr3qa.html