The G8 wealthy countries are interested in collaborating with the nearly 200 states participating in UN climate change discussions to establish a goal of reducing greenhouse gas emissions by at least 50% by 2050, according to a draft communique. The document, obtained by Reuters prior to its official approval by Group of Eight leaders at a summit in northern Japan, also stated that intermediate objectives would be necessary to meet the 2050 target. This declaration shifts the emphasis on combating global warming to UN-led discussions aimed at developing a new framework for after the Kyoto Protocol ends in 2012, and addresses internal disagreements within the G8. The UN negotiations are scheduled to conclude in Copenhagen in December 2009. The cautious wording of the climate statement, typically the most contentious aspect of summit deliberations, is also unlikely to appease those advocating for more specific objectives. Last year, the G8 group of wealthy nations, including Japan, Britain, Canada, Germany, France, Italy, Russia, and the United States, agreed to consider the goal of cutting global emissions in half by mid-century. The European Union and Japan have pushed for this year's summit to set more ambitious targets and establish clear interim goals. However, US President George W Bush has maintained that the US cannot commit to binding targets unless other major polluters like China and India also limit their emissions. The European Union's leadership praised the climate change agreement as a step towards a new shared vision and progress towards a global deal in 2009. European Commission President Jose Manuel Barroso called it a strong signal to people worldwide and stated that the EU's objectives for the G8 summit had been met. Global warming is connected to other important topics like rising food and fuel prices, which are being discussed at a three-day meeting at a luxurious mountain-top hotel on the northern Japanese island of Hokkaido. The leaders at the summit also acknowledged the uncertainty and risks facing the world economy, including the impact of increasing oil prices. Additionally, they hinted at the need for China to allow its tightly controlled currency to appreciate in order to address global financial imbalances. The G8 leaders also agreed to convene a world energy forum to bring major oil producers and consumers together to discuss output and prices. The escalating prices of food and oil, which reached a new high of $145.85 per barrel last week, are having a severe impact on the impoverished populations worldwide. A recent study by the World Bank warned that as many as 105 million more individuals could fall below the poverty line due to the surge in food prices, including 30 million in Africa. World Bank President Robert Zoellick emphasized the importance of the global community's response to this crisis, stating that it is crucial to support those most in need. In an effort to alleviate the situation, the G8 is set to introduce a series of measures to assist Africa, particularly its farmers, and has pledged to double aid to provide an extra $50 billion in assistance by 2010, with half allocated to the poorest continent in the world. The summit concludes on Wednesday with a Major Economies Meeting, which includes the G8 as well as eight other prominent countries that emit large amounts of greenhouse gases, such as India, China, and Australia.