“5. Global imbalances have been showing some signs of stabilisation more recently and deficits have been relatively easily financed. An orderly adjustment, which is in the interest of the world economy, will take time. We are committed to implementing domestic policies to promote this: …
… - Europe will continue its structural reform efforts guided by the Lisbon strategy to promote growth and employment.”
“… 86. In order to better support the development of sustainable livelihoods and positive
developmental impacts associated with artisanal and small-scale mineral production, we…
… - support a pilot study, in co-operation with the World Bank and its initiatives, concerning the feasibility of a designed certification system for selected raw materials. In taking this initiative we will focus on the artisanal and small scale mining sector and work in close partnership with governments from mineral resource rich developing countries as well as industry on the basis of their voluntary commitments…
… - support efforts to develop techniques to limit pollution associated with artisanal
mining, such as education and training to encourage the use for example of safer retorts for gold extraction.”
“10. We will work together to strengthen open and transparent investment regimes and to fight against tendencies to restrict them. Erecting barriers and supporting protectionism would result in a loss of prosperity. We therefore agree on the central role of free and open markets for the world economy, respecting sustainability concerns, and the need to maintain open markets to facilitate global capital movements. We reaffirm that freedom of investment is a crucial pillar of economic growth, prosperity and employment…
…11. Against this background we remain committed to minimize any national restrictions on foreign investment…
…17. We support the regional and multilateral development banks (MDBs), including the
International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), in addressing the problem of poor business environments in their borrowing members and urge them to integrate efforts to address these impediments to investment in their country strategies and budgets.
18. We support the initiative of G8 Finance Ministers to foster the development of deeper, more liquid local bond markets in emerging economies.
19. We support the OECD Policy Framework for Investment and UNCTAD Investment
Policy Reviews as valuable mechanisms in defining a shared understanding of healthy investment climates in emerging economies and developing countries…”
“68. Today there are 600 million motor vehicles around the globe, a figure which is projected to double by 2020. With this in mind, we will
- work to increase energy efficiency in the transport sector…
… - step up coordination on development of international biofuel quality standards from various feedstocks to achieve optimal interoperability and emission profiles,
- avoid possible negative side-effects in biofuel development, particularly in developing countries in order to prevent competition between different forms of land uses, and promote sustainability in biomass cultivation…
…- monitor the implementation of the necessary measures and discuss progress at two-year intervals during the Environmentally Friendly Vehicles Conference the results of which shall be reported to G8-leaders,
- introduce energy efficiency labels for new cars along the lines of those already on some white goods.”
“63. We recognise that enhanced international cooperation offers enormous opportunities. Against this background we are committed to further strengthening and increasing our efforts of co-operation, both at inter-state level as well as within the framework of the respective international fora and organisations. To this end, we will
- continue and further substantiate our energy-efficiency dialogue begun at Evian;
- move forward with implementing the Gleneagles and St. Petersburg Action Plans, thereby retaining and supporting the IEA’s close involvement;
- take forward the concrete recommendations on energy efficiency presented by the IEA and consider drawing on these when preparing national energy efficiency plans…
…- promote international research, encourage investment and development cooperation aimed at energy efficient technologies and other greenhouse gas mitigation options;
- report on progress in the policies and measures on energy efficiency outlined below at the G 8 summit in 2008…
…65. …we commit ourselves to a model of efficient energy systems …we will promote the appropriate policy approaches and instruments, including inter alia economic incentives and sound fiscal policies, minimum standards for energy efficiency, sound and ambitious energy performance labelling, information campaigns aimed at consumers and industry that enhance national awareness, sector-based voluntary commitments agreed with industry, investment in research and development and guidelines for public procurement. We will develop and implement national energy efficiency programmes and advance international cooperation on energy efficiency, notably on efficiency standards…
…66. We will furthermore work together with the major emerging economies towards a reduction in energy consumption in priority sectors.
67. The opportunities for making buildings more efficient are enormous… we will
- set up a "Sustainable Buildings Network", involving the G8 and open for participation of the major emerging economies…
- work to increase energy efficiency in the building sector, and to reach a considerable expansion of renewable energies in this area…We will actively support the energy efficient technologies and the use of renewable energies by employing market mechanisms, promotion instruments and framework legislation, as well as through public-private-partnership initiatives to move towards low or zero-energy buildings…
72. In recognition of the increasingly urgent needs to achieve longer term greenhouse gas abatement, we will work on accelerating development and deployment of carbon capture and storage (CCS), including by
- prioritising national and international research and development efforts and encouraging international research and technology cooperation, to minimise efficiency losses of the different carbon capture technologies and to clarify geotechnical conditions for secure CO2 storage,
- encourage research, development and deployment of clean coal technologies in both developed and emerging economies with the highest energy needs,
- supporting national and international geoscientific and political efforts in the field of CCS on ensuring security of storage and the provision of necessary legal frameworks to create a stable investment climate, thereby working in cooperation with industry as well as national and international research programmes,
- reinforcing our commitment made under the Gleneagles and St. Petersburg Plans of Action to support the initiatives taken by IEA and Carbon Sequestration Leadership Forum (CSLF),
- encouraging our governments to design mechanisms to stimulate the construction and operation of a growing number of large-scale demonstrations of sustainable fossil fuels technologies in commercial power generation.
- encouraging industry to consider the concept of capture ready when developing new fossil fuel power plant”
“70. Current innovations in power station design bear significant saving potential. Therefore, we will
- stimulate investments in high efficient power plants and grids and promote refurbishment
of existing ones by an appropriate national policy framework…
… - continue and expand national and international research and development efforts to further advance modern power station technologies, with the aim of achieving higher efficiency levels
… - adopt instruments and measures to significantly increase the share of combined
heat and power (CHP) in the generation of electricity.
71. The centre of gravity of global energy demand is continuously shifting towards the
emerging economies. We will
- enhance energy co-operation with those countries as a priority issue, including by actively supporting co-operative research, voluntary technology partnerships and private investment in clean technologies,
- work in close partnership with industry, science and with governments of other industrialised countries and, in particular, of major emerging economies in order to foster the diffusion and adoption of best practices along the entire fossil fuel process chain with a focus on fuel treatment as well as new and existing power plants. We particularly underline the need to promote capacity building and technology transfer on plant renovation and modernisation. To achieve these goals we will invite the IEA to take a central role in guiding our joint efforts.
73. We reaffirm our support of the efforts of the Global Gas Flaring Reduction Partnership
(GGFR) and we commit ourselves to reduce to minimal levels natural gas flaring, and to encourage all oil producing states and private sector stakeholders to do likewise.
74. Over the next 25 years, global energy consumption in the industrial sector is projected to increase significantly. There is a considerable potential for improving energy efficiency. Therefore, we will
- cooperate more closely with major emerging economies and leading industries on improving energy efficiency in energy intensive industries utilising on-going work of the IEA for developing sector energy efficiency indicators and combining good practices.
- encourage the introduction of cost-effective technology as well as promote research and development for further innovation for breakthrough of the technology in such areas as iron, steel and cement.
76. Underlining the importance of energy diversification, and recognising that G8 members will choose different ways to achieve their energy diversity goals, we
- will continue to develop and implement the policy frameworks needed to support our intensive commitment to the global use of all clean fuels, including clean coal, renewable energy sources (wind, solar, geothermal, bioenergy, hydro power). We will make efforts to integrate renewables into the power grid,
- reaffirm our pledge at former summits regarding the peaceful use of nuclear energy…
- … reaffirm our commitment to work towards the reduction or, where appropriate, the elimination of tariff and non-tariff barriers to environmental goods and services through the WTO Doha negotiations, which will also help us to address our shared energy security and climate goals…”
23. We also commit to promoting decent work and respect for the fundamental principles in the ILO Declaration in bilateral trade agreements and multilateral fora…
…38 b. In partnership with certain developing countries we agree to launch technical assistance pilot plans with a view to building the capacity necessary to combat trade in counterfeited and pirated goods to strengthen intellectual property enforcement. The progress on these pilot plans will be reviewed by the G8 in 2008…
…81. Free, transparent and open markets are fundamental to global growth, stability and
sustainable development. We therefore,
- will work to promote global applicability of and compliance with WTO rules, also with regard to trade in primary and secondary mineral raw materials.”
“42. We are committed to take strong leadership in combating climate change… We commit ourselves to implement approaches which optimally combine effective climate protection with energy security. To this end, we are committed to the further development of the international regime to combat climate change, especially in the run-up to the UN Climate Change Conference in Indonesia at the end of this year.
…49. We are therefore committed to taking strong and early action to tackle climate change in order to stabilize greenhouse gas concentrations at a level that would prevent dangerous anthropogenic interference with the climate system. Taking into account the scientific knowledge as represented in the recent IPCC reports, global greenhouse gas emissions must stop rising, followed by substantial global emission reductions. In setting a global goal for emissions reductions in the process we have agreed today involving all major emitters, we will consider seriously the decisions made by the European Union, Canada and Japan which include at least a halving of global emissions by 2050. We commit to achieving these goals and invite the major emerging economies to join us in this endeavour.
… 51. We stress that further action should be based on the UNFCCC principle of common but differentiated responsibilities and respective capabilities. We reaffirm, as G8 leaders, our responsibility to act…
… 52. We acknowledge that the UN climate process is the appropriate forum for negotiating future global action on climate change. We are committed to moving forward in that forum…”
“56. We are determined to assist in reducing emissions from deforestation, especially in developing countries…we will:
- encourage the establishment of a pilot project dedicated to building capacity, creating and testing performance-based instruments to reduce emissions from deforestation in developing countries, in support of and without prejudice to ongoing UN climate change discussions…
… - continue to support existing processes to combat illegal logging…
… - remain engaged in supporting developing countries to achieve their self commitments for halting forest loss and to implement sustainable forest management, as stated in various regional initiatives, i.e. the Congo Basin and the Asia Forest Partnerships.”
“58 We are committed to enhancing resiliency to climate variability and climate change in a way that fully supports our common goal of sustainable development…We reaffirm our commitment to assist with climate research and risk assessments including through helping developing countries benefit from satellite observation systems.
59. We will also endeavour under the Montreal Protocol to ensure the recovery of the ozone layer by accelerating the phase-out of HCFCs in a way that supports energy efficiency and climate change objectives…We will continue to exercise leadership in the development of the Global Earth Observation System of Systems (GEOSS).
60. We will report on the progress achieved in the areas mentioned above at the G8 Summit in 2008.”
“24 …we commit ourselves to promote actively internationally agreed corporate social responsibility and labour standards (such as the OECD Guidelines for Multinational Enterprises and the ILO Tripartite Declaration), high environmental standards and better governance through OECD Guidelines’ National Contact Points…
… 84 we:
- reaffirm our support of the OECD Guidelines for Multinational Enterprises as important international benchmark for corporate social responsibility,
- will promote wider understanding of and support for the following standards, tools and best practices for the mining sector: the OECD Risk Awareness Tool for Multinational Enterprises in Weak Governance Zones, the Voluntary Principles on Security and Human Rights and the International Finance Corporation (IFC) Performance Standards…
…87 we will continue to support good governance and anti-corruption initiatives, such as the Extractive Industry Transparency Initiative (EITI), and we
- commit to provide continuous assistance to strengthen EITI, as appropriate through financial, technical and political means. Equally, we invite all stakeholders to provide support for the implementation of the EITI…
…- initiate, within the framework of the 2007 global conference on transparency, a dialogue with the major emerging economies to enlist the governments and especially the state-owned companies domiciled in these countries as participants in EITI…
…88 We are committed to full implementation of their obligations under existing international agreements created to combat corruption, particularly those of the United Nations and the Organisation for Economic Cooperation and Development (OECD)…
…89. We will intensify their common efforts to effectively combat corruption worldwide. This includes:
- Supporting the ratification of the UN Convention against Corruption (UNCAC)
by all countries;
- Coordinating closely to promote effective implementation of the UNCAC, particularly related to developing effective review mechanisms, strengthening international measures on asset recovery, and encouraging provision of technical assistance;
- Supporting the work of the United Nations Office of Drugs and Crime (UNODC), Interpol, the OECD and other international bodies to coordinate the implementation of UNCAC;
- Ensuring that developing countries can access and develop technical expertise to help them recover illicitly-obtained assets;
- Reaffirming a shared commitment to effective monitoring through the implementation of a continuous, rigorous and permanent peer review mechanism under the OECD Anti Bribery Convention, and strategic advancement of the Convention through continued engagement with non-party emerging economies;
- Supporting International Financial Institutions´ efforts to combat corruption, including the implementation of the World Bank´s Governance and Anti-Corruption Strategy to increase assistance to countries to strengthen governance and reduce corruption;
- Denying safe havens through our national laws to individuals found guilty of corruption and the return of illicitly-acquired assets with high priority and developing additional measures to prevent such individuals from gaining access to the fruits of their criminal activities in our financial systems;
- Urging all financial centers to implement the highest international standards of transparency, exchange of information and the fight against money laundering;
- Supporting the efforts of the private sector in combating and preventing corruption, including through promoting greater accountability and transparency of payments in key sectors;
- Providing assistance to countries that show willingness and ability to use funds effectively…
…90. We will continue to develop concrete strategies and best practices regarding specific aspects of combating corruption; for example, this will include implementing regional G8 workshops on the recovery of illicitly-obtained assets. We will also provide developing countries with enhanced capacity building assistance.
…92 We will work actively to promote appropriate preventive measures, particularly in the government and administration, inter alia through transparent public procurement and will also provide support to other States in working up best practices in this area.”
“…30 We will undertake to bring forward an international economic and political environment that promotes and protects innovation…
…36. We commit to strengthen cooperation in this critical area among the G8 and other countries, particularly the major emerging economies, as well as competent international organizations, notably the World Intellectual Property Organization (WIPO), WTO, the World Customs Organization (WCO), Interpol, the World Health Organization (WHO), the OECD, APEC, and the Council of Europe…
…54 we will:
- stimulate global development, commercialisation, deployment and access to technologies,
- promote major emerging and developing economies’ participation in international technology partnerships and collaborations,
- scale up national, regional and international research and innovation activities and
- undertake strategic planning and develop technology roadmaps to strengthen the role of advanced technology in addressing climate change.”