§ Lord Kennet
asked Her Majesty's Government:
Whether the G8 countries have discussed the implications of increased climate change for the world economy. [HL3167]
§ Lord Whitty
The G8 countries have discussed the implications of climate change on a number of occasions. In particular, the G8 Environment Ministers considered climate change when they met at Leeds Castle in April 1998, during the UK Presidency. A number of issues with major economic implications were discussed, including: the importance of domestic action; co-operation on the development of rules on the Kyoto mechanisms and compliance; provision of financial assistance and technology transfer to developing countries; climate change in relation to World Bank and other international financial institutions' policies; and the engagement of developing countries. The importance of tackling climate change was further endorsed at the G8 Environment Ministers' meeting at Schwerin earlier this year and, more recently, at the G8 Heads Summit in Cologne.