The G-8 remain strongly committed to addressing the urgent need to reduce greenhouse gas emissions significantly by 2020 and to pursue their low carbon path afterwards, with a view to doing our part to limit effectively the increase in global temperature below 2ºC above pre-industrial levels, consistent with science. In the UNFCCC, the G-8 will work to ensure that a new protocol, another legal instrument or an agreed outcome with legal force under the Convention applicable to all parties is adopted by 2015, to come into effect and be implemented from 2020. They also note with grave concern the gap between current country pledges and what is needed, and will work towards increasing mitigation ambition in the period to 2020. The G-8 reiterate their commitment to the developed countries’ goal of mobilising jointly $100 billion of climate finance per year by 2020 from a wide variety of sources in the context of meaningful mitigation actions and transparency on implementation and are advancing our efforts to continue to improve the transparency of international climate finance flows. They welcome the efforts of the Secretary-General of the United Nations to mobilise political will through 2014 towards a successful global agreement in 2015 during the Conference of the Parties.
No new targets.
Not a new commitment