G8: Verdict on the talks
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.CLIMATE CHANGE
What was hoped for?
Britain wanted affirmation of scientific evidence that the world is warming because of man's interference; agreements on faster development and adoption of clean-energy technology; and the opening of talks with developing nations on controlling their emissions. Greengroups wanted more, including a cap and reduction regime for the US.
What the G8 agreed:
Agreement that climate change is serious enough for action to be taken to stop the increase in greenhouse gases; agreements on technology, the Gleneagles plan of action; agreement on talks about growth, energy and the environment with China, India and other developing countries, starting in London next November.
AID
What was hoped for?
Britain and campaigners both wanted to double the global aid budget to $100bn (£52bn) from 2006; $25bn extra for Africa; rich nations to aim to spend 0.7 per cent of national income; and in the meantime to "front load" aid through a financial device known as the international financial facility (IFF) to let governments borrow from financial markets.
What was achieved?
Blair was able to announce a figure of $50bn but said it would not kick in until 2010, four years later than he had wanted. Campaigners said that much of the money had already been announced. The US dug in its heels over the IFF, as it said it that constitutionally it could not bind Congress to meet the payments.
DEBT
What was hoped for?
Finance ministers have underwritten the cost of cancelling $40bn of debts owed by 18 poor countries to the World Bank and International Monetary Fund. A further nine countries will become eligible over the next 12 to 18 months. Campaigners hoped that the UK would be able to use the G8 to agree to tackle debts that poor countries owe to private creditors.
What was achieved?
The G8 hailed the decision to write off the debts of 18 countries. But they went no further. The final $18bn figure translates into $1bn of saved repayments - a fraction of the $45.7bn total
TRADE
What was hoped for?
Campaigners had urged rich countries, which spend $300bn a year on subsidies for their farming exports, to set a timetable for abolishing them. Gordon Brown, the Chancellor, had wanted a date of 2010, which the EU trade commissioner, Peter Mandelson, described as "not credible", while the French wanted delay until 2016.
What was achieved?
The final statement failed to set a deadline on abolition of farm subsidies. The G8 backed countries' right to choose how fast to open up their markets, and criticised rich nations for using environmental standards as a way of blocking imports. But there was opaque language on the deadline for abolition of export subsidies, saying it was "committed to eliminating all forms of export subsidies ... by a credible end date".
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments