G8 Climate Change Roundtable

The G8 Climate Change Roundtable was formed in January 2005 at the World Economic Forum in Davos, Switzerland.^[1] Its purpose was to address the global climate change issue facing governments, business and civil society. The first meeting was held in Gleneagles, Scotland, from 6–8 July 2005, to coincide with the 31st G8 summit.

The roundtable was established by twenty-three leading international businesses with the assistance of G8 President and Prime Minister of the United Kingdom Tony Blair, to co-operatively engage in a global plan of action.^[2] The aim of the group was to ensure that a long-term policy framework was set up to enable consistent and transparent market-based solutions in mitigating climate change, while also addressing issues linked to climate change; such as economic growth, poverty, and adequate energy supplies.^[3] Carbon trading is one of the most popular pricing mechanisms used to the reduce greenhouse emissions worldwide.

The group devised a Framework for Action which called for technology incentive programs, the establishment of common metrics,^[4] for example in energy efficiency, and the expansion of emissions trading schemes.

Some of the companies participating include Ford, British Airways, HSBC, Électricité de France and BP.^[5] Now, the Climate Change Roundtable has a membership of 150 businesses spread across the globe.^[6]

Environmentalists raised concerns that the body's statement does not call for targets or include timetables.^[5] Friends of the Earth noted that the roundtable represented a major shift by the business community towards efforts to mitigate climate change.^[5]