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MARK AUSTIN THOMAS: Leaders from the Group of Eight industrialized nations are meeting this week in Germany. Many issues will be discussed like globalization and aid to Africa, but the hot topic is certain to be climate change. Ethan Lindsey reports from Berlin that the beneficiary could be business.

ETHAN LINDSEY: British Prime Minister Tony Blair is in Berlin today, working with German Chancellor Angela Merkel to build a united front against the U.S. position on global warming.

Last week, President Bush proposed going outside of the United Nations to sign a deal on climate change. It was a disappointment to Blair and Merkel, who have been trying to preserve the UN framework of the Kyoto Protocol.

The European leaders are now challenged with compromising on less ambitious proposals. Things like a global carbon trading market, an area investors and business leaders want.

Graham Mather is with the European Policy Forum. He says Merkel and Blair may not find common ground on that idea either.

GRAHAM MATHER: The problem is Europe is still in a tangle over how to tackle climate change itself.

Today, a European consortium with almost $4 trillion in assets publicly called climate change a business “opportunity” and asked the G8 to embrace a carbon market.

Mather sees potential for just such a deal, but doesn’t expect it to come this week.

In Berlin, I’m Ethan Lindsey for Marketplace.

TEXT OF STORY

MARK AUSTIN THOMAS: Leaders from the Group of Eight industrialized nations are meeting this week in Germany. Many issues will be discussed like globalization and aid to Africa, but the hot topic is certain to be climate change. Ethan Lindsey reports from Berlin that the beneficiary could be business.

ETHAN LINDSEY: British Prime Minister Tony Blair is in Berlin today, working with German Chancellor Angela Merkel to build a united front against the U.S. position on global warming.

Last week, President Bush proposed going outside of the United Nations to sign a deal on climate change. It was a disappointment to Blair and Merkel, who have been trying to preserve the UN framework of the Kyoto Protocol.

The European leaders are now challenged with compromising on less ambitious proposals. Things like a global carbon trading market, an area investors and business leaders want.

Graham Mather is with the European Policy Forum. He says Merkel and Blair may not find common ground on that idea either.

GRAHAM MATHER: The problem is Europe is still in a tangle over how to tackle climate change itself.

Today, a European consortium with almost $4 trillion in assets publicly called climate change a business “opportunity” and asked the G8 to embrace a carbon market.

Mather sees potential for just such a deal, but doesn’t expect it to come this week.

In Berlin, I’m Ethan Lindsey for Marketplace.