The Week in Green: What we need from the G8 - BusinessGreen Blog

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The Week in Green: What we need from the G8

The G8 meets in Japan next week with three inter-related issues set to not just dominate the agenda, but tear it up, stamp on the pieces and tell all the other issues to dissappear off from whence they came.

Climate change, energy prices and food shortages will be the only topics in town and, to be honest, you can understand why.

The concern is that a focus on the two shorter term concerns - spiralling energy prices and worsening food shortages - could dampen appetites for action on climate change. But now, more than ever this cannot be allowed to happen.

These issues are so closely intertwined that you cannot address one area without tackling all three.

Food shortages will only get worse if climate change is not addressed, just as in the long term peak oil means rising fuel prices can only be brought under control by a shift towards alternative energy sources.

In this light, an agreement on climate change has to come first and if that means the short term pain presented by high oil prices continues then so be it - it's not nice but it is necessary to force people to make the transition towards greener alternatives.

But what do we want from such an agreement?

Green business experts the world over have gone blue in the face requesting binding emission targets, a working price on carbon, a greater focus on energy efficiency and fresh efforts to tackle deforestation. PwC was the latest to have a go this week, insisting that such a strategy would be technically feasible and economically affordable.

But sadly the G8 is unlikely to deliver on this wish list next week - not least because negotiators have it in their mind that Copenhagen in December 2009 is the key date for reaching such a deal and they don't want to get ahead of themselves.

However, that does not mean the G8 cannot deliver real progress.

What businesses want to see is real leadership and a clear signal that an agreement next year is now inevitable. Ever since the UN's Bali conference delivered some sort of breakthrough fears have continued that some countries are looking to delay the process and water down the final agreement. If the G8 unequivocally declares that this will not be allowed to happen then firms can start planning investments safer in the knowledge that a meaningful post Kyoto deal will be delivered.

Get that sorted and then not only will we be in a better position to address food shortages and rising energy costs, but perhaps we would also be able to find the time to return to all those other concerns that will necessarily have to take a back seat during next week's talks..

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