G8 Urges Economic Stability Measures, Fails to Pass Climate Bill
Today in L’Aquila, Italy, the Group of 8 (G8) Summit failed to pass unanimously a climate bill which would have mandated halving of global CO2 emissions by 2050 as part of the Group’s larger economic-stabilization plan. The Group – consisting of the United States, Japan, Germany, France, Great Britain, Italy, Canada, and Russia – believed passage of the bill would likely have broken the deadlock over sharing of the burden of cutting greenhouse gasses. The bill’s passage also would have laid the groundwork for an expected future U.N. climate pact in Copenhagen in December.