Source AP ©

Australian minister welcomes G-8 climate agreement

Only when all major polluters joined in a climate accord greenhouse gas emission targets should not be binding said Australia's environment minister, satisfied with g-8 summit’s achievement.

Leaders from the Group of Eight developed countries, holding an annual summit in Germany, clinched a broad agreement Thursday to try halving greenhouse gas emissions by 2050 - a proposal the European Union, Japan and Canada had lobbied for.

Environment Minister Malcolm Turnbull welcomed the accord as a step away from the 1997 Kyoto Protocol that set mandatory greenhouse reduction targets for developed countries but not fast-growing polluters like China and India.

"What we've seen is an acknowledgment by the world's largest developed economies that the old Kyoto approach has failed, and that we need a new Kyoto - one that is able to achieve a massive cut in global greenhouse gas emissions by mid-century," Turnbull told Sky News. "And to do that we will need the commitments from all the major emitting countries, including those developing countries like China and India."

China poses an existential threat to US global economic dominance, including the advancement of its Indo-Pacific military footprint.

US Economic War on China