The G8 Climate Change Roundtable was formed in January 2005 at the World Economic Forum in Davos. 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 the British Prime Minister Tony Blair, to co-operatively engage in a global plan of action.[1] The aim of the group was to ensure that a long-term policy framework is set up to enable market-based solutions in mitigating climate change and to address issues regarding global warming. 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,[2] for example in energy efficiency, and the expansion of emissions trading schemes.
Some of the companies participating include Ford, British Airways, HSBC, EdF and BP.[3]
Environmentalists raised concerns that the body's statement does not call for targets or include timetables.[3] Friends of the Earth noted that the roundtable represented a major shift by the business community towards efforts to mitigate climate change.[3]
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