The G8 Dialogue on Climate Change, Clean Energy and Sustainable Development was held in London this week, although G8 member the United States maintains that the theory of climate change is yet to be scientifically proven.
The G8 countries – Britain, France, Russia, Germany, Japan, Italy Canada and the US – were joined by representatives from some of the world's fastest developing countries, including China, India, Brazil, Mexico and South Africa. Australia was also represented.
Most countries agreed there were strong concerns that environmental compliance with international standards such as the Kyoto Protocol could impede economic development.
"The blunt truth about the politics of climate change is that no country will want to sacrifice its economy in order to meet this challenge," said Blair.
"But all economies know that the only sensible, long-term way to develop is to do it on a sustainable basis."
The G8 Dialogue was co-chaired by British MPs Margaret Beckett and Alan Johnson, who issued a joint statement at the conclusion of the Dialogue.
"We heard that there is no shortage of appropriate technologies that can be deployed in the short term to reduce our carbon emissions," they said.
"The challenge is to create the incentives for private sector investment, including through market-based instruments and carbon finance.
"'Long, loud and legal' frameworks can accelerate the commercialisation of cleaner technologies."
Despite all parties agreeing that the dialogue had been an important contribution towards international collaboration on climate change, the co-chairs said the United Nations Framework Convention on Climate Change remained the appropriate forum for negotiating future action.
Australian minister for the environment Ian Campbell participated in the G8 Dialogue, saying he welcomed the world's largest economies' increasing concern over global environmental issues.
"I believe the international community will be particularly interested in Australia's experience in integrating our climate change strategy with our national energy policy to ensure our economy, our environment and our way of life are both prosperous and sustainable," Campbell said.
