The G8 wealthy nations are interested in collaborating with the nearly 200 countries participating in UN climate change discussions to establish a target of reducing greenhouse gas emissions by at least 50% by the year 2050, according to a draft communique. This document, which was obtained by Reuters before being officially approved by Group of Eight leaders at a summit in northern Japan, also emphasized the need for interim objectives to reach the long-term goal. The statement highlights the importance of the UN-led negotiations to develop a new framework for addressing global warming after the Kyoto Protocol expires in 2012, while also glossing over disagreements within the G8. The UN discussions are slated to wrap up in Copenhagen in December 2009. The diplomatic language used in the climate statement, typically the most contentious part of summit talks, is unlikely to fully satisfy those advocating for more specific targets. Last year, the G8 group of wealthy nations, including Japan, Britain, Canada, Germany, France, Italy, Russia, and the United States, agreed to "seriously consider" the goal of cutting global emissions in half by mid-century. The European Union and Japan have been pushing for this year's summit to set clearer targets, but US President George W Bush has insisted that the US cannot commit to binding targets unless major polluters like China and India also reduce their emissions. The European Union's leadership praised the climate change agreement reached at the summit, calling it a "new, shared vision" that keeps negotiations on track for a global agreement in 2009. European Commission President Jose Manuel Barroso stated that the summit in Japan had met the EU's criteria for success. Global warming is connected to other significant issues such as rising food and fuel prices, which are being discussed at a three-day meeting on the northern Japanese island of Hokkaido. 21,000 police have been mobilized for the event. The leaders at the summit expressed concerns about the uncertainty and risks facing the world economy, including the impact of high oil prices. They also hinted at the need for China to allow its tightly controlled currency to appreciate in order to address global financial imbalances. Additionally, the group agreed to convene a world energy forum to bring together major oil producers and consumers to discuss output and prices. The surge in food and oil prices, reaching a record high of $145.85 a barrel last week, is having a severe impact on the world's impoverished population. A recent World Bank report predicted that as many as 105 million more individuals could fall below the poverty line due to the increase in food costs, including 30 million in Africa. World Bank President Robert Zoellick emphasized the importance of how the global community responds to this crisis, calling it a crucial test of the system's commitment to assisting the most vulnerable. In an effort to alleviate the situation, G8 officials announced plans to introduce various measures to aid Africa, particularly its farmers, and reaffirmed their pledge to double aid, providing an additional $50 billion by 2010, with half designated for the world's most impoverished continent. The summit concludes on Wednesday with a Major Economies Meeting that includes the G8 and eight other significant greenhouse gas-emitting countries, such as India, China, and Australia.