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ABOUT CLIMATE CHANGE

Climate Change, Energy Efficiency and Energy Security: Combating climate change is one of the major challenges for mankind and it has the potential to seriously damageour natural environment and the global economy. We noted with concern the recent IPCC report and its findings. We are convinced that urgent and
concerted action isneeded and accept our responsibility to show leadership in tackling
climate change. In setting a global goal for emissions reductions in the process we have
agreed in Heiligendamm 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 have agreed 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 and call on all parties to actively and constructively participate in the UN Climate
Change Conference in Indonesia in December 2007 with a view to achieving a
comprehensive post 2012-agreement (post Kyoto-agreement) that should include all
major emitters. To address the urgent challenge of climate change, it is vital that the major emitting countries agree on a detailed contribution for a new global framework by
the end of 2008 which would contribute to a global agreement under the UNFCCC by
2009. We reiterate the need to engage major emitting economies on how best to
address the challenge of climate change. We stress that further action should be based
on the UNFCCC principle of common but differentiated responsibilities and capabilities.
Technology, energy efficiency and market mechanisms, including emission trading
systems or tax incentives, are key to mastering climate change as well as enhancing energy security. We reaffirmed the energy security principles we agreed at St.Petersburg. In our discussion with the emerging economies we agreed that energyefficiency and technology cooperation will be crucial elements of our
follow-up dialogue.