G8 Leaders Agree to Climate Change Goal

At Summit in Italy, World Leaders Call for Keeping Temperatures from Rising More Than 2 Degrees Celsuis

(CBS/ AP)  Updated 3:21 p.m. ET

President Barack Obama joined other leaders of the industrialized world Wednesday in backing new targets for battling global warming. But the wealthy nations were unable to persuade leaders of developing countries to commit to reductions of their own, and their cooperation is critical to avoiding the worst effects of climate change.

White House officials confirmed that Obama agreed to language supporting a goal of keeping the world's average temperature from rising more than 2 degrees Celsius (3.6 degrees Fahrenheit).

The agreement by the Group of Eight industrialized nations, meeting in Italy, marks a significant step in efforts to limit greenhouse gases blamed for the world's rising temperature. The G-8 previously had not been able to agree on that temperature limit as a political goal.

British Prime Minister Gordon Brown called it a "historic agreement" and German Chancellor Angela Merkel said it was "a clear step forward."

"After a long struggle, all of the G-8 nations have finally accepted the 2 degree goal. From the United States of America to Japan and Europe, everyone will work on this goal," Merkel told reporters.

It remains only a target, however, and it is far from clear that it will be met, especially as China, India and other rapidly industrializing nations generate and consume more energy from coal and other sources.

Climate change experts say the 2-degree threshold wouldn't eliminate the risk of runaway climate change but would reduce it. Even a slight increase in average temperatures could wreak havoc on farmers around the globe, as seasons shift, crops fail and storms and droughts ravage fields, scientists say.

The G-8 leaders also agreed to a goal of having industrialized nations reduce their greenhouse gas emissions by 80 percent by 2050. It would be part of a worldwide goal of a 50 percent cut in such gases from all nations, rich and poor.

James Connaughton, the chair of the White House Council on Environmental Quality under President George W. Bush, said the G8 agreement goes a step further than a deal struck at a meeting last year in Japan by assigning a specific goal to industrialized nations. Developing countries back then balked at agreeing to a 50 percent worldwide reduction come 2050.

"This would appear to be a good-faith attempt to assure the developing countries that the developed countries will bear a greater proportion of the task," Connaughton said in an interview with The Associated Press.

White House adviser Mike Froman said the administration supports the new nonbinding goals. He said the starting point for the targeted reduction could be as early as 1990.

However, the two goals will not be included in a declaration from a broader group that includes poor and developing nations that are wary about the potential impact of such reductions on emerging economies, Froman said. Administration officials said they were hopeful of bringing along the developing nations in coming months.

Opponents say such sharp reductions in carbon emissions would hamper businesses and industries.

The Department of Energy in 2008 completed a study for the Bush White House in 2008 that showed if industrialized countries slashed their emissions by 80 percent, that would require developing countries to cut their future emissions by 65 percent to meet the worldwide target.

G-8 leaders also agreed that the global economy is too shaky to begin rolling back massive fiscal stimulus plans right now, according to a statement obtained by The Associated Press. (Read more on the economic statements from the summit)

The leaders said in the draft that they "note some signs of stabilization" but continued to stress the difficult outlook instead of concerns over debt and high spending.

"The economic situation remains uncertain and significant risks remain to economic and financial stability," the draft read. "We will take, individually and collectively, the necessary steps to return the global economy to a strong, stable and sustainable growth path."

The leaders did commit to prepare exit strategies from the "unprecedented and concerted action" that has been taken to boost growth through government spending, low interest rates, and expansive monetary policy. Germany, worried about running up crippling debt, has pressed for spending restraint, while other major economies like Britain, Japan and the United States can't rule out the need to pump in more money.

The measures include continuing the countries' stimulus packages while keeping inflation under control, a particular German concern, while also ensuring that banks have enough cash to keep lending.

In the meantime, the nations will prepare exit strategies, with the help of the International Monetary Fund, which will vary from country to country as the measures themselves have, the draft said.

The summit is being held in the central Italian city L'Aquila after a devastating earthquake in April killed almost 300 people and drove thousands from their homes. Berlusconi moved the summit in a show of support, reports CBS News senior White House correspondent Bill Plante. There are still regular aftershocks - and with the leaders of almost 40 nations staying, there's an emergency plan to airlift them out in case there's another serious quake.

Over dinner, they planned to turn their attention to world security issues ranging from Iran to North Korea.

Italian host Premier Silvio Berlusconi, welcomed the leaders, many of whom arrived at the summit in electric cars bearing their nation's flag. Mr. Obama strolled into the summit site for the first G-8 meeting of his presidency.

The abrupt return home of Chinese President Hu Jintao after ethnic tensions soared in China's western Xingjiang territory could weaken trust-building discussions on making further progress on climate change.

China is among five developing market economies - along with Brazil, India, Mexico and South Africa - who are participating in the summit for the fifth straight year, joining the talks on Thursday to discuss bringing them on board, aid and development. Also joining are nine African nations and a forum on climate change.

The summit also will include a discussion on ways to expand the Group of Eight even further amid growing sentiment that world's most-industrialized nations can no longer claim leadership on the global political and economic agenda.

Mr. Obama signed an $787 billion economic stimulus bill in February, but experts say only about 15 percent of that has made its way into the economy so far - creating a debate between the wait-and-see camp and economists who urge another stimulus, arguing the recession proved to be deeper and more devastating than originally believed.

The document also calls for a rapid conclusion to the stalled Doha trade round, but failed to set a deadline. G-8 leaders will discuss this with other leaders tomorrow, the statement said.

The G8 draft statement on the economy calls for an "enhanced global framework for financial regulation" and to address flaws in the current system to help prevent future economic crises, but fails to make any concrete proposals. Leaders say they will address issues such as executive pay, definition of capital, risk management and the regulation of hedge funds and credit rating agencies.

[Joe_NY_15]

If you think about it, Man is naturally occurring on earth, so anything we do, could be considered "natural".

When Bears tear down a tree, it's considered "natural" even though destruction of a tree is occurring.....the same could be considered of man....for some reason, Man has been considered an Alien on our own planet.....just something to ponder

[nazdackster]

2°C, that much? WOW!

Thank GOODNESS, now we don?t need to do anything about CO2. I was really worried about Cap & Trade, but I guess I was getting all worked up over nothing. Seems like every recent paper I?ve read about feedback puts climate sensitivity at between 0.4°C and 0.6°C now that the majority of water vapor feedback has been shown to be absent, and now that we have reasonably good measures of negative feedbacks from clouds. So we should be able to double CO2 4 times. What a relief. I?m not looking forward to using a machete to get to my SUV every morning though, but I think I can "hack it".

Now can we get them to set the lower limit to -2°C? This would be most helpful as it?s July and I still haven?t put my long johns away. I?m sure ±2°C is most acceptable to all of us voters out here, so let?s just do that OK? I didn?t realize it was all going to be this easy! THANKS!

[whitemale08]

This Global Warmer garbage is the biggest scam since the Y-2K tech bubble of the 1990's and the worthless derivatives and credit-default swaps bubble of the 2000's.

The BIG FAILED ZOMBIE BANKS cannot make money off our consumption anymore so they want to change our everyday civil behaviour into luxury.

That's the bottom-line folks, it's a sham for Goldman Sucks and JP Morgan.

[Joe_NY_15]

Cap and Trade = new Tax Revenue-Stream Scheme

[horse3farm]

Just look at that picture of all the leaders. Hussein Obama is such an actor, he's waving to the air. He's a dismal leader and smiling all the way on his journey to take us to hell.

[debinok1]

If Humans are responsible for Global Warming by way of the CO2 we release, then why in the 3 days following 9/11(nofly zone) did the temperature go up 1C, but CO2 dropped. If we take what we already know, CO2 went down, temperature went up. Then it stands to reason that if we take more CO2 out of the atmosphere the temperature will continue to increase. Since we already now that it made a difference in 3 days, this could be easily proven at length by grounding all planes for 1 month. If it follows the course of 9/11 and temperature goes up as CO2 levels fall, GW caused by CO2 is disproven. If it does not follow the 9/11 course and temperatures fall as CO2 falls then GW caused by CO2 is proven correct. This is a simple way to prove/disprove GW caused by CO2, based of previous findings. So why wont these scientists do the actual study? Because their models are more reliable and their science is "proven".

[ubrew12]

It dropped? How much?

[debinok1]

The articles are almost impossible to find now, but if I remember correctly it was 3 to 5% depending on the reading station.

[speakinup22]

"Just about everybody, Liberal and Conservative, accepts the science of AGW. - ubrew12 July 8, 2009 12:11 PM PDT

Un-huh, and most realize that it has happened off and on since around the time dinosaurs roamed the earth.

I'm all for keeping the air clean, but I don't buy Mr Gore's BS for one second, nor does the scientific community.

AND - even if we did decide we wanted to stop the earth from warming - there is no way to do that.

[ubrew12]

speakinup22 said: "I don't buy Mr Gore's BS for one second, nor does the scientific community. "
As I said, the majority of climate scientists support the reasoning and urgency of AGW. And that is why 70% of the American people, both liberal and Conservative, ALSO support that reasoning. You may not buy Gores BS, but your swallowing Exxons BS every day.

[ludvig1-2009]

The earth is a beaker, the oceans the water, the ice cubes the polar ice caps, the sun the bunsen burner. Recall High School Chemistry and how rapidly the water heats up when the ice is all gone. 2 degrees Celsius might be too much.

[ubrew12]

All I remember is Mrs. Burris slapping me with a ruler.

[geminispyder-2009]

"White House officials confirmed that Obama agreed to language supporting a goal of keeping the world's average temperature from rising more than 2 degrees Celsius (3.6 degrees Fahrenheit)."

How does Obama plan to do that?

Open up the fists of mother nature?

[beaumuff]

O the potus, I would but you and the rest of the receiving end have already broke the benches down!

[beaumuff]

Why not, I won't charge you a dime to tell the temp in the Mid Alatantic is way below normal this year.Up North it is cold. Seems ole Al BS you again.But just grin and bare it when the bills come due.

[scottyusa]

Regardless of which party you are in or if you are a liberal or conservative there are believers and non believers in all. I for one am a non believer. I prefer to listen to the scientists that are contradicting climate change. For instance, the one that works for the EPA that studied the subject and has determined that the climate has actually been cooling over the last decade. That report was supressed by the believers which just makes me believe it that much more. There is a lot of money to be made and power to be gained by this and Obama's"cap and trade" power grab will be the crowning jewel. Just wait until you cannot sell your home until it is inspected by the government and brought up to California standards. That would be windows, energy use type, six inch studs in the outer walls to provide for more insulation. Half the homes in the U.S. or more will become "unsellable" because it would cost a fortune to bring it up to the standards of the nuts and fruits in California. What a hoax! I am aghast that there are so many lemmings in the world. It takes quite a bit of lunacy to think our climate can be controlled.

[beaumuff]

Well you did not read the artical Monday, when Obama and family paid for vacation rolled into the Kremlin "the clouds parted and gave way to brilliant sunshine". If he can part the clouds like they said he can add a few more degrees.

[scottyusa]

o_the_potus why don't you have another koolaid, it will help keep you awake yuk yuk

[beaumuff]

Thats the problem already, we have to many useless laws and not good laws for what should be fixed. Like crime,dope runners, illegals, this should not be a priorty of the so called G8 until they can fix the economy.

[beaumuff]

Sorry my friend, you still have the same bunch of idiots in congress since 2007,you know about when all of this started. Queen Pelosi and King Reid.

[darthcheney345]

you still have the same bunch of idiots in congress since 2007
----------------
2007 - isn't that the year the Dow reached its all time high of 14,000?

Ever since "the most ethical government ever" took over, it's been going down, down, down.

The Dow closed below 8200 today. That's lower than it opened on Jan 20.

OBAMA = One Big A** Mistake, America.