all developed economies, in order for each G8 country to recognize its leadership role and to achieve absolute emissions reductions. The leaders agreed, at the same time, that in order to ensure an effective and ambitious global post-2012 climate regime, all major economies will need to commit to meaningful mitigation actions.

## (3) Relations with Developing Countries

The G8 leaders welcomed and supported the establishment, on July 1, of the Climate Investment Funds administered by the World Bank to support the efforts of developing countries to cut greenhouse gases and seek adaptation measures. Recognizing that poorer countries are among the most vulnerable to the adverse impacts of climate change, the leaders agreed to continue and enhance cooperation in

### Chart I-2. Results for the Environment and Climate Change

## G8 Heiligendamm Summit Outcomes

(a) Consider seriously at least a halving of global emissions of greenhouse gases by 2050

(b) Call for participation in COP13 to achieve a comprehensive post-2012 agreement that will include all major emitters.

(c) Welcome the proposal by the United States to host the major emitting countries meeting later in 2007

Main Results of G8 Hokkaido Toyako Summit on Climate Change

G8	MEM (Major Economies Meeting) (G8+China, India, South Africa, Brazil, Mexico, Indonesia, Australia, Republic of Korea)
Long-term goal	·Seek to share with all Parties to the UNFCCC the vision of, and consider and adopt in the UNFCCC negotiations the goal of achieving at least 50% reduction of global emissions by 2050.	·Support a shared vision for long-term cooperative action, including a long-term global goal for emission reductions.·Desirable for the Parties to adopt a long-term global goal, taking into account the principle of equity.
Mid-term goal	·Acknowledge G8's leadership role and implement ambitious economy-wide mid-term goals in order to achieve absolute emissions reductions.	·The developed major economies will implement economy-wide mid-term goals and take corresponding actions in order to achieve absolute emission reductions.·The developing major economies will pursue, in the context of sustainable development, nationally appropriate mitigation actions, supported and enabled by technology, financing and capacity-building, with a view to achieving a deviation from business as usual emissions.
Sectoral approaches	·Useful tools for achieving national emission reduction objectives.·Can be useful tools to improve energy efficiency and reduce GHG emissions.	·Promote the exchange of mitigation information and analysis on sectoral efficiency.·Consider the role of cooperative sectoral approaches and sector-specific actions, consistent with the Convention.
Others	·Establish an international initiative to develop roadmaps for innovative technologies.·Welcome and support the establishment of the Climate Investment Funds (CIF) (G8 members have thus far pledged approximately US$6 billion).	·Recognize that actions to increase removals by sinks in the land use, land use change and forestry sector can make a contribution to stabilizing GHG in the atmosphere.·Work together to strengthen the ability of developing countries to adapt to climate change.·Affirm the critical role of technology and the need for technological breakthroughs.