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G8 talks for developing nations G8 hails broad accord on climate
(about 6 hours later)
Leaders from the biggest industrialised nations are meeting their counterparts from the developing world, on the final day of the G8 summit in Japan. Leaders from the world's developed nations and rising economic powers have agreed a "shared vision" on climate change at the G8 summit in Japan.
The Group of Eight has already been criticised by five emerging nations for not doing enough on climate change. But no specific agreements have been announced, and India and China have reportedly dismissed the rich nations' target of halving emissions by 2050.
The so-called G5 - India, China, South Africa, Mexico and Brazil - will now meet G8 leaders face-to-face. Leaders from eight emerging economies held talks with the Group of Eight rich nations on the final day of the summit.
India's Prime Minister Manmohan Singh said he was "very pleased" with US relations after meeting President Bush. A US official said the broad agreement represented progress.
It is thought the two were planning to discuss a stalled nuclear deal. Jim Connaughton, chairman of President Bush's Council of Environmental Quality, told the Associated Press that the agreement "will give us greater confidence and commitments as we go to next year".
We, the leaders of the world's major economies, both developed and developing, commit to combat climate change in accordance with our common but differentiated responsibilities G8 statement on climate C02 emmissions by country
The statement approved in Japan by the 16 nations said they recognised the need for "deep cuts" in global greenhouse gas emissions to fight global warming.
But it stopped short of urging numerical targets for those reductions.
The document describes climate change as "one of the great global challenges of our time".
It adds that "leaders of the world's major economies, both developed and developing, commit to combat climate change in accordance with our common but differentiated responsibilities and respective capabilities".
Global problems
On Tuesday the G8 group - which includes the UK, US, Canada, France, Germany, Italy, Japan and Russia - agreed to halve harmful emissions by 2050.
But emerging countries and environmentalists were scathing of the announcement.
And China's President Hu Jintao used his speech at the summit to urge all countries - particularly developed countries - to slash farm subsidies and trade barriers to calm soaring food prices.
Mr Hu was at the meeting as part of an "outreach" group of the world's fastest-growing economic powers.
China along with Brazil, Mexico, India and South Africa negotiated with the G8 countries for most of the morning.
They were joined by the leaders of Indonesia, South Korea and Australia for the discussion on climate change.
The BBC's diplomatic correspondent, Bridget Kendall, said the inclusion of eight emerging nations is an admission that G8 decisions on their own are no longer enough - global problems need global solutions.
Varied discussions
On the sidelines, Indian Prime Minister Manmohan Singh and US President George W Bush discussed a nuclear deal which has been stalled for the past three years.
The US agreed to help India with its civil nuclear programme more than three years ago, but Mr Singh has faced fierce opposition from left-wing parties in his governing coalition.The US agreed to help India with its civil nuclear programme more than three years ago, but Mr Singh has faced fierce opposition from left-wing parties in his governing coalition.
Analysts say he is keen to announce some progress on the deal at the summit. No announcement was made on the nuclear deal but Mr Singh said he was "very pleased" with US relations.
Undervalued currencies
Wednesday's talks are expected to focus on economic issues.
The G8 - Britain, Canada, France, Germany, Italy, Japan, Russia and the US - has already called for developing countries with large trade surpluses to ditch currency controls.
The BBC's Andrew Walker says industrialised nations believe less developed countries should allow their currencies to rise in value in order to reduce the surpluses.
It is thought the G8 leaders were speaking with China in mind - a country long accused of undervaluing its currency to fuel its export-led manufacturing industry.
Observers say the rising price of oil is also likely to feature in the talks.
The G8 leaders have already mentioned measures to curb the growth of demand for oil.
Our correspondent says some advisers believe developing countries should tackle rising prices by cutting fuel subsidies and allowing the prices paid by consumers to rise.
Sticky issue
On Tuesday delegates from the five leading emerging economies caused a stir by issuing a statement criticising the G8's pledge to reduce greenhouse emissions by 50% by 2050.
The G5 called for a reduction of 80%, saying it was "essential that developed countries take the lead in achieving ambitious and absolute greenhouse gas emission reductions".
The summit, in Toyako, northern Japan, has seen G8 leaders voicing concern about soaring oil and food prices, the situation in Zimbabwe, and the pace of aid being sent to Africa.The summit, in Toyako, northern Japan, has seen G8 leaders voicing concern about soaring oil and food prices, the situation in Zimbabwe, and the pace of aid being sent to Africa.
But climate change has been one of the stickiest issues - with the G8's position receiving a volley of criticism from both environmentalists and developing nations.But climate change has been one of the stickiest issues - with the G8's position receiving a volley of criticism from both environmentalists and developing nations.