G-8 Leaders Express ‘Grave’ Concern on Global Climate Efforts

The Group of Eight nations comment on global efforts to protect the climate and cut emissions in the aviation industry, according to a statement published yesterday after a summit in Lough Erne, Northern Ireland.

On progress in United Nations-overseen climate talks:

“In the UN Framework Convention on Climate Change we will work to ensure that a new protocol, another legal instrument or an agreed outcome with legal force under the convention applicable to all parties is adopted by 2015, to come into effect and be implemented from 2020.

‘‘We also note with grave concern the gap between current country pledges and what is needed and will work towards increasing mitigation ambition in the period to 2020.’’

On climate-finance commitment:

‘‘We reiterate our commitment to the developed countries’ goal of mobilizing jointly $100 billion of climate finance per year by 2020 from a wide variety of sources in the context of meaningful mitigation actions and transparency on implementation and are advancing our efforts to continue to improve the transparency of international climate finance flows.’’

On the need to curb greenhouse gases from aviation:

The nations called on the International Civil Aviation Organization to agree in September ‘‘an ambitious package related to both market-based and non-market based measures to address rising aviation emissions.’’

Before it's here, it's on the Bloomberg Terminal.