Toyako Summit: A Review

1. Toyako Summit: A Review By Eric Johnston Deputy Editor The Japan Times Presented to: Hokkaido International Business Association July 10th, 2008

2. The Toyako Summit: What Happened? • G-8 Leaders agreed on long term green house gas emissions reductions targets of at least 50 percent by 2050 • G-8 Leaders agreed to work to make the climate change conference in Copenhagen a success. • G-8 Leaders promised Africa that it would would increase aid by $25 billion a year by 2010.

3. Toyako Summit: What Didn’t Happen • G-8 Leaders failed to commit to the specific recommendation by climatologists of cutting greenhouse gases between 25 and 40 percent by 2020 in order to avert a global climate catastrophe after that. • G-8 Leaders failed explain how they would deliver on their aid promises made to Africa since 2005, and how they would take responsibility for ensuring the money was accounted for.

4. The Toyako Agenda • Climate Change • Aid to Africa • Nuclear nonproliferation (Iran, North Korea) • The world food crisis • The price of oil • Financial markets and the world economy • Zimbabwe

5. So, was the Summit a Success? • YES – say the G8 Leaders, some elements of the Japanese media. • NO – says practically everybody else • TOO EARLY TO TELL –say the NGOs involved with poverty and development issues, especially in Africa. • MY OWN VIEW – It was neither a success nor a failure.

6. Basic Problems with the Outcome • On Climate Change –G-8 Leaders did not take into account the scientific evidence or the advice, presented last year by the UN, of rapid climate change and what the world needs to do. The emerging economies also failed to show political leadership and imagination, putting their own ``victim politics’’ above cooperation.

7. Basic Problems with the Outcome(2) • On Africa –G-8 Leaders failed to explain or take action on how promised aid will actually be delivered. They also failed to address practical concerns on the distribution of the aid, i.e. dealing with corruption and making sure it reaches the right people.

8. Basic Problems with Outcome (3) • There is, in effect, very little the G-8 can do to deal with the rising price of oil. Past statements have done absolutely nothing to stem the rise of oil prices, which are being driven by oil speculators. • The G-8’s energy policy promotes controversial fuels like biofuel and nuclear power, even as the leaders tacitly acknowledge biofuels are at least partially responsible for the current food crisis. They have no real answer to increased nuclear power leading to increased proliferation.

9. Part II: Hokkaido and the Toyako Summit • Some media reports in Tokyo/Osaka said the economic impact of the Hokkaido summit would be as much as 60 billion yen –which is the estimated total cost of the summit. • A sense of resignation among those living in the Toyako area that a few would benefit but most would not. • A sense of déjà vu among people in other parts of Japan when they heard stories about how the central government promised Hokkaido citizens that they would play and active role in the summit preparations, only to see Tokyo move in and shut out local merchants.

10. Eric’s questions for HIBA • Does the Hokkaido government have a ``Post Toyako’’ plan and a budget for promoting international business, including trade and tourism. If so, is the plan being funded by Tokyo, or by local taxpayers? • Is the Hokkaido Prefectural Government seriously committed to further development of the international convention and tourism industry here in Sapporo?

11. The English Media and post-Toyako Summit Hokkaido • Many in the English language media are wondering about the market potential of Hokkaido, post-Summit. But we have the following concerns: • 1) Is there enough of a demand among visiting foreign business people here in Sapporo for an English language paper? • 2) How do we reach the hotels and pensions where foreigners are staying? • 3) What kind of local news most interests the Hokkaido foreign community?

12. THANK YOU!!!!!