Biofuels have forced global food prices up by 75% - far more than previously estimated - according to a confidential World Bank report obtained by the Guardian. The damning unpublished assessment is based on the most detailed analysis of the crisis so far, carried out by an internationally-respected economist at global financial body.
The figure emphatically contradicts the US government's claims that plant-derived fuels contribute less than 3% to food-price rises.
Pledging to “move toward a low-carbon society,” leaders of the world’s richest nations endorsed Tuesday the idea of cutting greenhouse gas emissions in half by 2050, but from current levels rather than 1990’s, as had been proposed.
And they refused to set a short-term target for reducing the gases that scientists agree are warming the planet.