EU and 13 other big nations embrace 50 % cut in greenhouse emissions, says WSJ

Thirteen of the world's largest nations and the European Union plan to embrace "an aspirational goal" of reducing emissions of global-warming gases by 50% by 2050, according to a draft declaration by world leaders set for release next week in Italy, the Wall Street Journal is reporting.

The draft "sets up a framework for detailed negotiations on the issue ahead of a final, United Nations climate conference in December. But it leaves key areas in the climate-change debate in dispute," the Journal reports.

The draft declaration would aim for "a world-wide, 50% reduction in greenhouse-gas emissions by 2050, with developed countries reducing their emissions by at least 80%," the Journal reports. "The developing world would have a lower requirement. But the current draft doesn't specify which emissions level those targets would be calculated against, instead recognizing that 'baselines may vary.'

That's because the EU and the U.S. disagree on the baseline.  "he EU would like reductions measured against 1990 emissions levels. The U.S. favors the baseline be based on more-recent data," says the WSJ.

--Craig Pittman