G8 business groups promote innovation to fight global warming

Other News Materials 17 April 2008 16:45 (UTC +04:00)

(dpa) - Business groups from the Group of Eight (G8) member countries called Thursday on their governments to push for innovation to fuel the fight against climate change.

It is essential that the governments of the seven leading industrialized countries and Russia cooperate with business to promote research, development and investment in technologies that produce lower emissions of carbon dioxide, said a joint declaration issued at the end of a meeting of the G8 business groups in Tokyo.

Global warming, which is caused by emissions of carbon dioxide and other greenhouse gases, is one of the biggest challenges the world faces, it said.

The declaration also called on the G8 governments - the United States, Japan, Germany, Britain, France, Canada, Italy and Russia - to cooperate more closely to stabilize the global economy when they gather for their July summit in Japan.

An agreement on the Doha Round of World Trade Organization talks this year is also important and the promotion of innovation is critical in securing sustainable economic growth, said the business groups, which included the Japan Business Federation, Business Roundtable of the United States and Confederation of British Industry.

The meetings of the groups was begun last year by the Federation of German Industries ahead of the G8 summit in Germany.