The Group of Eight nations met less than a third of the policy goals they set themselves last year, their worst performance since 2002, according to a study by the University of Toronto.
In the six months since G-8 leaders including President George W. Bush and UK Prime Minister Tony Blair met in St. Petersburg in July, member states have satisfied 31 % of the commitments they made at the meeting, the university’s G-8 Research Group said in a summary of a report set to be released tomorrow.
That is down from the 47.3 % success rate in the six months following a 2005 meeting in Gleneagles,Scotland and the weakest performance since 27 % of the pledges were met in the six months after a 2002 summit in Kananaskis, Canada. The G-8 is composed of the US, Japan, Germany, UK, Canada, Italy, France and Russia and oversees two-thirds of the world economy.It complied with 52 % of the targets set in St. Petersburg on energy security policy, 19 % for those involving health and 15 % for education initiatives, the University of Toronto said.
All the members fully complied with promises to support Lebanese reconstruction efforts and enhance a database on oil production. The UK ranked first in overall compliance. The report is to be released as finance ministers and central bankers from the Group of Seven nations, which excludes Russia, meet in Essen, Germany, this week for their first talks of the year. Leaders are due to convene in Heiligendamm, Germany, in June.