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G8 passes on Climate Change

The communique issued by the G8 finance ministers meeting yesterday in London makes some mention of addressing climate change by referring the matter to the World Bank as follows:

'To help meet the challenge of climate change, we urge the World Bank and other multilateral development banks to increase dialogue with major borrowers on energy issues and put forward specific proposals at their Annual Meetings that encourage cost effective investments in lower carbon energy infrastructure.'

These words come after the main initial emphasis of the communique on pumping out as much oil as possible. The G8 is Germany, Canada, United States, France, Italy, Japan, United Kingdom, Russia and the European Union (yes that's right it is really G9 now!). You can read the full text of the communique at http://www.g8.utoronto.ca/finance/fm050611.htm

Posted Sunday, 12 June 2005

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