Carbon market traders and backers of clean-energy projects aren't holding their breath for a strong statement on fighting change during this week's G8 summit and are more focused on who wins November's US election. Market players say they don't expect any breakthrough agreements on fixed emissions reductions targets at the talks at a secluded Japanese resort on the island of Hokkaido. But some are hoping for the leaders to strongly support renewable energy as a way to fight rising greenhouse gas emissions that are blamed for global warming. “In general, nobody's expecting a lot from this G8. They'd like to see something positive on carbon and greenhouse gas emissions come out of it but I don't there's too much expectation right now,” said Anthony Sneed, director of operations for Asia Carbon Exchange, a trading platform for emissions trading. The G8 leaders agreed last year to “seriously consider” halving greenhouse gas emissions by 2050 but there are doubts the US will agree to this target unless developing nations back emissions curbs as well.
