The leaders of the group of eight industrial nations have agreed to make an agreement on climate change in what Tony Blair calls "a major, major step forward".

Wow....I say, wow.

The concrete development coming out of the G8 summit is that the US has agreed to work with other nations towards "substantial cuts" in greenhouse gases within a UN framework. China and developing nations will also be involved in emissions cuts and a new international deal is to be completed by the end of 2009. Though there is no agreement on details, Blair is optimistic about the results and the road ahead.

Mr Blair told reporters there is now agreement. "The important thing is we now have an agreement - one; that we need a new worldwide agreement on climate change," he said.

"Two; that at the heart of that should be a substantial reduction in greenhouse gas emissions.

"Three; in the process that will then work out what that cut in emissions should be there will be serious consideration given specifically to the goal of halving emissions by 2050.

"This is an agreement in which we want all the major countries to be involved including America, China, India and others - the developed and the developing world."

"We agreed... that CO2 emissions must first be stopped and then followed by substantial reductions," the German chancellor said.

"Now we have an agreement that there will be a climate change deal, it will involve everyone, including the US and China, and it will involve substantial cuts."

Previously, the US has flatly opposed being a part of any post-Kyoto deal. However, mounting political pressure within the US has been seen as a key factor in Bush's willingness to negotiate with the international community. There's still no accounting for the American media though, as ABC was quick to put a different spin on today's events:




Surprise, surprise.

Negotiations resume in Bali this coming December.