UN Secretary-General Ban Ki-moon expressed disappointment with the progress on climate change at the G8 summit in Italy, stating that the commitments made so far were insufficient. He emphasized the urgent need for stronger action to address the issue, calling it a critical responsibility for the future of humanity and the planet. Despite the G8 leaders agreeing to cut emissions by 80% by 2050, Ban Ki-moon insisted that more significant reductions are necessary sooner rather than later. President Barack Obama also acknowledged the need for greater efforts to bridge the gap with developing countries on climate change, following criticism from the UN chief. At the first day of the Group of Eight major industrialized nations meeting in L'Aquila, Italy, the G8 was not successful in convincing China and India to commit to cutting greenhouse gas emissions in half by 2050. President Obama, who wanted to have an impact on his first G8 summit by leading a meeting on the environment with wealthy and emerging nations, mentioned that there was still potential for progress before the UN climate change treaty talks in Copenhagen in December. White House spokesperson Robert Gibbs stated that Obama told Brazilian President Luiz Inacio Lula da Silva that there was still time to resolve the disagreement before the important meeting. Obama was set to lead the 17-member Major Economies Forum (MEF) in an effort to limit global warming to 2 degrees Celsius compared to pre-industrial levels, although agreement on emission cuts was not reached. Chinese President Hu Jintao's absence due to dealing with ethnic conflicts in China's northwest, where 156 people have died, hindered progress. Sharing the burden of addressing climate change is a pressing issue as temperatures have increased by 0.7 Celsius since the Industrial Revolution. British Prime Minister Gordon Brown expressed hope that all countries, including major powers like the United States, Japan, and China, would agree on temperature targets. However, a G8 source doubted the feasibility of reaching a deal on emissions. India emphasized that developing countries need financial assistance from wealthy nations to address the impacts of climate change, such as floods and rising sea levels. Developing nations also expect wealthier countries to make more significant emissions cuts by 2020. The G8 countries have agreed to a goal of reducing global emissions by 50 percent by 2050, with the United States agreeing to this for the first time. Additionally, they have set a goal of an 80 percent reduction in emissions for developed countries. However, Russia stated that it may not be able to meet this target by 2050, and Canada's Environment Minister Jim Prentice described the 80 percent goal as an "aspirational goal." The first day of the summit was dominated by discussions on the world economy, with rich nations acknowledging the significant risks to financial stability. China, along with Russia, India, and Brazil, used the second day to argue for diversification of the global reserve currency system away from reliance on the dollar, which is a sensitive issue in currency markets. State Councilor Dai Bingguo stated that there is a need for a more effective system for issuing and regulating reserve currencies in order to maintain stability in exchange rates and promote a diverse international reserve currency regime. The G8 and G5 expressed hope for progress in the stalled Doha trade talks, aiming to conclude them by 2010. The Doha round, initiated in 2001 to assist developing countries, has faced challenges due to proposed tariff and subsidy reductions. The G5 emphasized the importance of addressing issues related to Doha to boost confidence in global markets, urging wealthy nations to eliminate trade barriers and provide financial support to poorer countries.