page 1
page 2
page 3
page 4
page 5
page 6
page 7
page 8
page 9
page 10
page 11
page 12
page 13
page 14
page 15
page 16
page 17
page 18
page 19
page 20
page 21
page 22
page 23
page 24
page 25
page 26
page 27
page 28
page 29
page 30
page 31
page 32
page 33
page 34
page 35
page 36
page 37
page 38
page 39
page 40
page 41
page 42
page 43
page 44
page 45
page 46
page 47
page 48
page 49
page 50
page 51
page 52
page 53
page 54
page 55
page 56
page 57
page 58
page 59
page 60
page 61
page 62
page 63
page 64
page 65
page 66
page 67
page 68
page 69
page 70
page 71
page 72
page 73
page 74
page 75
page 76
page 77
page 78
page 79
page 80
page 81
page 82
page 83
page 84
page 85
page 86
page 87
page 88
page 89
page 90
page 91
page 92
page 93
page 94
page 95
page 96
page 97
page 98
page 99
page 100
page 101
page 102
page 103
page 104
page 105
page 106
page 107
page 108
page 109
page 110
page 111
page 112
page 113
page 114
page 115
page 116
page 117
page 118
page 119
page 120
page 121
page 122
page 123
page 124

THE NEW ECONOMY011rational systems of measurement, and here the G8could make a real difference. All governments face amajor responsibility in getting rid of perversesubsidies, determining the right incentives anddisincentives, and of course, working as far as possiblein a coordinated global framework.The G8 meeting will be followed by a meeting of theG20. In some ways the formation of the G20 reflectsthe widening of economic power and politicalinfluence in the world today. Whatever the G8 will do atHuntsville will affect the work of the G20. According to an article in the magazine 'Nature' of 8April, the G20 now account for two-thirds of the worldpopulation, 90 per cent of global economic activity,and at least 75 per cent of global greenhouse gasemissions. The G20 has already discussed proposalsfor a Global Green New Deal, originally put forward bythe United Nations Environment Programme. Thisbrings out many of the practical implications of pointson the G8 agenda. We would be wise to go for pluralityof agreements on this as on other occasions.The next step will be Cancun or COP 16 in November.At present, expectations for a comprehensive globalagreement on climate change are low. Excessiveoptimism at Copenhagen should not be matched byexcessive pessimism at Cancun. Perhaps we will beagreeably surprised. In all respects the contributions of the G8 and then theG20 will be critical to the success of Cancun, and thesuccessive meetings which will surely follow. The world is ours for the making and mending, and wecannot afford to fail. nBIOGRAPHYSir Crispin Tickell is a leading internationalenvironmentalist and independent environmentaladvisor to successive British Prime Ministers. SirCrispin spent most of his life in the DiplomaticService: as Chef de Cabinet to the President of theEuropean Commission (1977-80), Ambassador toMexico (1981-83), Permanent Secretary of theOverseas Development Administration (1984-87),and British Permanent Representative to the UnitedNations (1987-90). His book 'Climate Change AndWorld Affairs', first published in 1977, was amongthe first to establish the connection between climatechange and politics.Sir Crispin is also a contributor to many publicationson world-wide environmental issues. FormerChancellor of University of Kent and Warden ofGreen College, Oxford, he is presently Director of thePolicy Foresight Programme at the James MartinSchool for the 21st Century at Oxford University.agreements which may be made. Some people thinkthat a comprehensive agreement would be a kind ofmiracle in international affairs. Certainly it would be astep in a new direction.Climate change touches on almost everything. Amongthe related subjects the G8 may wish to discuss, thereare obvious priorities, well brought out in the list ofthose contributing to this publication. The sub-title ofthis edition -'The New Economy' -is particularlyimportant. We have to rethink a lot of economics; howwe measure the health, wealth and welfare of thehuman condition. At present we fail to bring in externalities and truecosts in our system of measurement. As has been wellsaid, markets are marvellous at fixing prices butincapable of recognising costs. The shortcomings of"growth", GDP/GNP etc are at last being recognised,together with the artificiality of much cost benefitanalysis. New efforts are being made to establish more

" "limate change is a global problem thatrequires a global solution. Action toreduce greenhouse gas emissions mustbe taken at the international, continentaland domestic levels while helping to create a greeneconomy that is both environmentally sustainable, andeconomically sound. Through domestic, continentaland international policies, regulations, and actions,Canada is working to inspire sustainable greeneconomic development at home and abroad. The UNFCCC meetings in Copenhagen last December,which culminated in the Copenhagen Accord, were areal turning point for an international climate changepolicy. Shortly afterwards, Canada inscribed in theCopenhagen Accord our 2020 economy-wide target ofa 17 per cent reduction in greenhouse gases from2005 levels, a target which reflects the importance ofaligning with the United States. By finding common ground and working together, theCopenhagen Accord will provide support for globalmitigation and adaptation efforts and internationalreporting and review. Most importantly, the Accordincludes emissions reduction commitments from allmajor emitters and has the support of the UnitedStates. This reflects Canada's long-standing positionthat real progress on climate change requires a globalagreement that includes all major emitters. Canada is also committed to playing a constructive roleat international climate change forums and has beenan active participant under the United NationsFramework Convention on Climate Change (UNFCCC),as well as the Petersburg climate talks in Bonn,Germany, earlier this year and the Major EconomiesForum on Energy and Climate.CANADA'S ACTION ON CLIMATE CHANGE012G8 MEMBER COUNTRIESCRT HON JIM PRENTICE, MINISTER OF THE ENVIRONMENT, CANADA CANADA CONTINUES TOSUPPORT THE G8 PARTNERS'GOAL OF REDUCING GLOBALEMISSIONS BY ATLEAST 50 PERCENT BY 2050These meetings are helping to pave the road to the nextmajor United Nations climate conference in Cancun,Mexico, this December by providing the groundwork forthe United Nations climate negotiations, with the aimto reinvigorate the discussion and develop a ministerialagreement on implementing the Copenhagen Accordin key strategic areas such as mitigation, adaptation,technology, financing, and reducing emissions from deforestation.Our country is committed to not only workingconstructively this year to implement the CopenhagenAccord, but also to build on the momentum of theAccord and strive to complete the negotiations underthe UNFCCC for an effective, comprehensive, andlegally binding post-2012 agreement. As a respectedand fully-engaged member of the internationalcommunity, Canada is not alone in facing this great challenge.Canada's implementation of the Copenhagen Accord iscomplemented by our participation in key internationalclean technology partnerships, such as the Asia PacificPartnership on Clean Development and Climate (APP),the Clean Energy Dialogue and the Methane-to-Markets Partnership. Under the APP alone, we have invested over C$11million in 28 new clean technology projects in 2009, which leveraged C$77 million in private sector investment. These projects, including the design of green buildingsfor communities, research in solar and wind power,and the recovery of gas from landfills, demonstrateCanada's commitment to help accelerate thedevelopment and deployment of clean technologies in?