A global meeting of political leaders has seen a landmark agreement reached on tackling climate change.

|PIC1|Delegates gathered in Washington DC for an informal meeting to agree that developing countries will have to unite with richer countries in cutting greenhouse gas emissions. In addition, the leaders also agreed that a global market should be formed to cap and trade carbon dioxide emissions.

Although the agreement was non-binding, the declaration is seen as vital in the process to find a replacement for the Kyoto Protocol.

The statement from the Global Legislators Organisation for a Balanced Environment (Globe) concluded: "Climate change is a global issue and there is an obligation on us all to take action, in line with our capabilities and historic responsibilities."

The two-day gathering saw legislators from the G8 nations as well as representatives from Brazil, China, India, Mexico and South Africa come together. They agreed that developing countries had to begin to set targets on their greenhouse gas emissions, in a way similar to how many rich countries have implemented cutback targets.

US Senator Joe Lieberman forecast that the US Congress would enact a law on cutting emissions by the end of next year, even in 2007.

US Presidential candidate John McCain, who is co-sponsoring climate legislation with Mr Lieberman, also said: "I am convinced that we have reached the tipping point and that the Congress of the United States will act, with the agreement of the administration."

The British-led Globe movement set up the Washington meeting with the hope of bringing about progress in a more informal light, following the disappointment of the UN climate negotiations in November 2006.