Improving energy efficiency is a key to tackling climate change
The US has called on the world's eight most industrialised nations to invest in a $10bn (£5bn) climate change fund.
The Climate Investment Funds, run by the World Bank, aims to help developing nations produce their own technology to mitigate the impact of global warming.
US Treasury Secretary Henry Paulson is meeting leaders from Group of Eight countries including Britain, Japan, Canada and France at a two-day event.
Leaders are also set to debate rising oil and food prices.
Ahead of the meeting in Osaka, Japan, Mr Paulson said: "None of us in the world are going to solve this problem unless we deal with it here."
Robert Zoellick, the head of the World Bank, said developing countries were seeing the impact of climate change in the form of floods, poverty and famine.
Japanese Finance Minister Fukushiro Nukaga highlighted the importance of coordinated actions to address higher energy and foods prices, as well as broader economic concerns.