The G8 chair's summary says: “We will consider seriously the decisions made by the European Union, Canada and Japan which include at least a halving of global emissions by 2050.” It doesn't say from what base. When I refer to the obligations under Kyoto, I don't see how you can know where you're going if you don't know where you've been. If you don't know what your baseline is or what you're measuring, how can you say you're going to halve something that has no reference point? That seems to me to be severely lacking.
Why do you think that's the case?