G-8 Summit 2009

About G-8

The Group of Eight is a forum for governments of eight developed nations Canada, France, Germany, Italy, Japan, Russia, UK and USA. The Head of the states of the member countries meet annually in what is called the G8 summit. The responsibility of holding the G8 summit and the presidency of the group is on a rotational basis among the member states and this year it is with Italy.

About G-5

The 5 emerging economies include the Group of Five, Brazil, China, India, Mexico, South Africa. Several European countries are lobbying to include these in the G8 Summit. These countries currently participate as guests. The G14 is considered as G8+G5+Italy.

About G8 Summits

The G8 Summits generally talk and think about the current issues facing the world and what can be done about it like, the climate issues, world trade, terrorism etc. However, being an informal forum, it does not give out a well cut direction to solve the issues.

G-8 Summit 2009

The G-8 Summit 2009 is being held in Italy in L’aquila, the town recently hit by earthquake. The Summit is a 3 day long affair. The summit has suffered a setback as Chinese president Hu Jintao flew back to Beijing amid continuing unrest in the western region of Xinjiang as China is an important constituent of the discussions. The main topics discussed during the 3 days of Summit involved Climate changes, World Trade, global terrorism etc.

Discussions on Climate Change

G-8 has agreed to try to limit global warming to 2 degrees Celsius (3.6 Farenheit) above pre-industrial age levels (1900 levels) and pledged to cut their greenhouse gas emissions by 80 percent by 2050. But developing nations China and India have refused to reduce global greenhouse gas emissions by 50 per cent by 2050 unless they are given more financial assistance by G-8 countries. Also the developed countries have not given a clear cut path as to how they will be cutting down the emissions. The developing countries think that they have much low per capita emission than developed nations and their development should not be hampered by asking them to reduce their emissions.

What does India say on Climate change?

Indian negotiators said developing countries first wanted to see rich nation plans to provide financing to help them cope with ever more floods, heat waves, storms and rising sea levels. This has been a normal bone of contention between the developing and developed economies where developing economies say that why should they bear the brunt of what is an outcome of the doings of the industrialized nations as going for environmental friendly policies costs them more than the normal ones. The current state of climate change and greenhouse gas emissions is believed to be an outcome of the industrialization carried out in the developed economies that comprise the G-8 in the 50’s. The developed economies, on the other hand, say that, unless the merging economies too come together for bringing down their carbon gas emissions down, its not going to help the climate cause.

Obama on Climate change

US President Barack Obama said during the Summit that the world had made "important strides" towards arresting climate change by agreeing to limit warming, but UN chief Ban Ki-moon said it was simply not enough. Obama said that he understood China and India’s apprehensions in cutting their carbon footprint but also said that without measures taken by them the world climate target cannot be met.

Discussions on boosting food supplies

The G8 leaders have agreed to build new efforts to boost food supplies and have reportedly pledged $15 bn over three years for helping poor nations to develop their own agriculture. Out of this US will reportedly contribute $3.5 bn. However, various aid organizations have criticized the developed nations as they have not fulfilled their target of providing $25bn to Sub Saharan Africa by 2010.