U.S. President George W. Bush reiterated on Friday that he opposed to mandatory caps on greenhouse gas emissions.
"Each nation must decide for itself the right mix of tools and technologies to achieve results that are measurable and environmentally effective," Bush said on the second and final day of a U.S.-sponsored climate change meeting of 16 major economies, along with representatives from the European Union and the United Nations.
During his speech, the U.S. president acknowledged that climate change is real and that human activity is a factor.
But Bush renewed his administration's opinion that the battle against climate change should not harm economic growth. He said the emphasis is on using "green" technologies and other voluntary efforts to tackle global warming.
Meanwhile, Bush calls for setting up a new fund to help developing countries harness the power of clean energy technologies. "We must also work to make these technologies more widely available, especially in the developing world," said Bush.
He also hopes to call a summit of heads of state on climate change by the middle of next year. "We will set a long-term goal for reducing global greenhouse gas emissions," said Bush.
"By setting this goal, we commit ourselves to doing something about it. By next summer, we will complete a meeting of heads of state to finalize the goal."