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G8 may invest $10 bln/year in technology to cut CO2

KYO (Reuters) – The Group of Eight wealthy nations are looking at investing more than $10 billion a year to support new technologies to reduce carbon dioxide emissions, including carbon dioxide capture and storage (CCS), a Japanese daily reported on Sunday.

A draft statement on economic issue is being considered for release at the July 7-9 summit of G8 leaders in Hokkaido, northern Japan, the business daily Nikkei said.

The G8 countries plan to fund research to develop CCS projects, which bury emissions from power plants, as a measure to help meet a global target to halve greenhouse gases by 2050, Nikkei said.


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