According to the Earth Times, the G-8 has moved past an impasse to reach an agreement on greenhouse gas reductions.
Leaders of the world's key industrialized nations agreed a breakthrough deal on combating climate change, including a pledge to slash global greenhouse gas emissions by 50 per cent by 2050. "We have a great success ... a major step forward," German Chancellor Angela Merkel said after leaders at a Group of Eight (G8) summit in the Baltic resort of Heiligendamm gave their go-ahead to the climate change deal. "I can very well live with this compromise," said Merkel. But she added that "none of these documents are binding."The German leader, who is hosting the G8 meeting, said negotiations among G8 participants had been especially difficult on setting a precise 50-per-cent target for cutting greenhouse gas emissions. She said it was significant that future climate change discussions would continue within the United Nations. The G8 statement on climate change referred to the need for a UN "agreement" on climate change - rather than a "framework" - following the 2012 expiry of the current Kyoto Protocol on global warming, said Merkel.